NatWest first UK bank accepted onto new UK Open Banking DPS
NatWest has become the first UK bank to be named as a supplier on the Crown Commercial Service’s (CCS) new Dynamic Purchasing System (DPS) for Open Banking services. This DPS will be accessible by all public sector entities in the UK including central government, local authorities, NHS, police, education providers, devolved administrations and charities.
The announcement means buyers will be able to access Payit by NatWest open banking solutions as well as Confirmation of Payee (CoP) API to support fraud prevention.
NatWest is already well integrated with the public sector as the largest supplier of Commercial Cards under CCS’ Payment Solutions 2 framework, as well as one of two House Banks on the government banking contract.
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 and 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, which 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.”
Crown 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 – supporting world-class public services that offer best value for taxpayers.
