DWP Contingency Payment Services

This procurement is for the provision of the DWP Payment Contingency Services and a Sponsor Bank. A Sponsor Bank is required to support the functionality of the Payment Contingency Services. Without a Sponsor Bank in place, the Payment Contingency Services is unable to operate. This contingency service is invoked in situations when there is a delay with release of the BACS payment file, which contains benefit and pension payments and the Department's ability to make payment on time is threatened. The service transforms BACS payments into Faster Payments to ensure customers receive their benefit/pension entitlement on their due date, reducing reputational risk and satisfying the Secret…