NS&I is modernising its core banking and payments infrastructure through a cloud-native platform, enabling faster, scalable, and customer-focused digital services.
NS&I (National Savings and Investments), the U.K.’s government-owned savings bank, and global financial technology company SBS today announced their work together to digitise NS&I’s core banking and payments services.
The initiative is part of NS&I’s Transformation Program and its contract with Atos, a European digital transformation company, to modernise its banking engine. SBS’s digital, cloud-native core banking platform will lay a foundation for new business efficiencies, product and service delivery, and customer experiences for NS&I.
Organisations now realise the need to move faster than legacy on-premise infrastructure allows. European retail banks are accelerating their cloud investments, with spending projected to rise by 57.5% from 2025 to 30, reaching $12.6 billion according to a recent Celent report. Through its ongoing transformation programme, NS&I is proving how financial institutions can move beyond just aspirations to make fully digital, cloud-based services a reality organisation-wide.
Working with Atos, IBM and Sopra Steria, NS&I is transforming and digitising its retail operations. Powering this digitisation on the back-end will be 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 services.
“NS&I’s transformation program will help to deliver the digital experiences that our customers expect, while still ensuring there is help and support for those who need it. Replacing our core system is a critical step in this evolution, and we look forward to continuing our work with SBS and Atos to bring it to fruition,” says Matt Smith, chief operating officer at NS&I.
As one of the U.K.’s largest savings organisations, NS&I’s internal infrastructure is responsible not only for upholding its 24+ million customer base but also for implementing savings rate changes and servicing the resulting interactions with customers. With on-premise and even hybrid cloud systems, this means maintaining the highest level of data storage at all times—even when it’s not being used.
By transitioning to SBP Digital Core, NS&I will benefit from the complete flexibility and scalability of AWS’s cloud environment, enabling it to make data storage and other infrastructural adjustments as often as it needs to. Unlike legacy core systems, which are difficult to update or modify, SBS’s cloud and software-as-a-service (SaaS)-based solution allows for regular, automatic system updates, ensuring no disruptions to banks’ day-to-day operations.
“Cloud and SaaS transformation in the financial industry is not a matter of when, but how. NS&I’s transformation program is evidence that banks can execute this transformation—and doing so sets them up to drive otherwise unattainable efficiencies and experiences. We’re thrilled to partner with NS&I on this journey,” comments Eric Bierry, CEO, SBS.
SBP Digital Core is a cloud-native, composable core banking solution that leverages the latest technology and data to allow banks to offer personalised and relevant banking experiences to their clients while complying with regulatory requirements. It is a part of SBS’s larger retail banking offerings used by more than 1,500 banks across Europe, the Middle East and Africa. In addition to core banking, these offerings include deposits, payments, lending, reporting, open banking and more.
About SBS
SBS is a global financial technology company that’s helping banks and the financial services industry to reimagine how to operate in an increasingly digital world. SBS is a trusted partner of more than 1,500 financial institutions and large-scale lenders in 80 countries worldwide, including Santander, Societé Generale, KCB Bank, Kensington Mortgages, Mercedes-Benz, and Toyota FS. Its cloud platform offers clients a composable architecture to digitize operations, ranging from banking, lending, compliance, to payments, and consumer and asset finance. With 3,400 employees in 50 offices, SBS is recognised as a Top 10 European Fintech company by IDC and as a leader in Omdia’s Universe: Digital Banking Platforms. SBS is headquartered in Paris, France.
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