NatWest is the first bank to be named as a supplier on the CCS new DPS for open banking services. This DPS will be accessible by all public sector entities in the UK. This includes central government, local authorities, NHS, police, education providers, devolved administrations and charities.
It means that buyers will be able to access Payit by NatWest open banking solutions. In addition, they can access Confirmation of Payee (CoP) API to support fraud prevention.
Go deeper with GlobalData
NatWest is already well integrated within the public sector. For example, it is the largest supplier of commercial cards under CCS’ Payment Solutions 2 framework. It is also one of the two house banks on the government banking contract.
DPS gives the public sector access to a pool of pre-qualified suppliers
Mike Elliff, CEO at Payit by NatWest said: “After becoming the first country in the world to accept tax payments via open banking, this DPS will give the public sector access to a pool of pre-qualified suppliers. NatWest is delighted to be the first UK bank appointed to the DPS. Open banking is a key part of the UK financial ecosystem. Seeing it integrated into the public sector is encouraging.
“With the continued adoption of open banking in the UK we are uniquely positioned to support the public sector with our award-winning open banking solutions.
“Individuals and businesses rely on NatWest to pay and get paid. That is why as a group we’re entrusted with 1 in 4 UK transactions. Our proven and secure infrastructure enables billions of payments every day. We combine the scale and resilience of a bank with the speed and innovation of a fintech to bring new payment services to our customers quickly and safely.”
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataCrown Commercial Service supports the public sector to achieve maximum commercial value when procuring common goods and services. In 2021/22, CCS helped the public sector to achieve commercial benefits equal to £2.8bn.
