Atos has been awarded a £474.4 million contract by National Savings and Investments (NS&I) to develop core banking and payment systems, a substantial increase from previous estimates. This non-competitive contract is valid from December 2024 to March 2028 and is justified by NS&I stating that only Atos can meet their technical requirements due to existing interdependent systems. The deal extends a previous arrangement dating back to 2013, highlighting the challenges of shifting away from an incumbent provider in a complex sector.
Following extended negotiations, Atos has secured a £474.4 million contract to develop systems for a UK state bank, significantly exceeding initial cost estimates.
The National Savings and Investments stated that the deal with Atos was not publicly advertised due to their unique capability and the urgent need for the service.
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