UK government-owned savings bank NS&I has announced its plans to replace its legacy core banking system with SBS’s digital, cloud-native platform.
Following this announcement, the initiative represents a part of NS&I’s Transformation Programme and its contract with Atos, a European digital transformation company, to modernise its overall banking engine.
The partnership will allow SBS’s digital, cloud-native core banking platform to offer new business efficiencies, product and service delivery, as well as customer experiences for NS&I. In addition, the institutions will continue to focus on meeting the needs, preferences, and demands of clients and users in an evolving market, while prioritising the process of remaining compliant with the regulatory requirements and laws of the industry as well.
More information on NS&I’s digitalisation strategy
According to the official press release, the process of transitioning to SBP Digital Core will give NS&I the possibility to benefit from the complete flexibility and scalability of AWS’s cloud environment, as well as allowing it to make data storage and other infrastructural adjustments as often as it needs to. At the same time, SBS’s cloud and SaaS-based alternative is set to enable it to provide regular, automatic system updates, so there are no disruptions to banks’ day-to-day operations.
In addition, by working with Atos, IBM, and Sopra Steria, NS&I aims to further develop and digitise its retail operations. Furthermore, the process of powering this digitisation on the back-end will be powered by SBS’s next-gen SBP Digital Core platform, which will replace NS&I’s existing core system with a cloud-native infrastructure for all of its retail banking and payments suite of services. SBP Digital Core will provide its composable cloud banking solution that leverages technology and data in order to allow the bank to offer personalised and relevant banking experiences to its clients, while also complying with regulatory requirements.
