NS&I Makes Switch to SBS's Modern, Cloud-Based Banking System for Core Operations
In a significant move towards digital transformation, the U.K.'s largest savings organisation, NS&I, has announced its decision to transition to SBS's SBP Digital Core for its core banking and payments services. This transition marks a crucial step in NS&I's ongoing digital transformation, as it aims to deliver the digital experiences that customers expect while ensuring help and support for those who need it.
The SBP Digital Core, a cloud-native, composable core banking solution, offers numerous benefits for NS&I. By leveraging the complete flexibility and scalability of AWS's cloud environment, NS&I will be able to optimise operational efficiency and scale operations seamlessly as needed.
The modern composable core banking solution also enables NS&I to deliver personalised, relevant banking experiences while ensuring regulatory compliance. The platform offers comprehensive banking functionalities, including deposits, payments, lending, reporting, and open banking capabilities, supporting a broad range of retail banking services within a single platform.
The SaaS delivery of SBP Digital Core ensures that NS&I stays current with innovations and security features without disruption. The API-based open architecture also enables integration with third parties to expand service offerings and enhance customer value.
The collaboration between NS&I and SBS is part of NS&I's Transformation Programme and its contract with Atos, a European digital transformation company. NS&I is also working with IBM and Sopra Steria to transform and digitise its retail operations.
Eric Bierry, CEO of SBS, stated that cloud and SaaS transformation in the financial industry is not a matter of when, but how. He believes that SBP Digital Core will provide a foundation for new business efficiencies, product and service delivery, and customer experiences for NS&I.
Replacing NS&I's core system is a critical step in the evolution of its digital transformation, according to Matt Smith, Chief Operating Officer at NS&I. He stated that the transformation program will help deliver the digital experiences that customers expect while ensuring help and support for those who need it.
The adoption of SBP Digital Core by NS&I demonstrates how SBS’s platform supports banks' digital transformation by enabling cloud scalability, modularity, personalised experiences, regulatory compliance, and operational efficiency within a future-proof, digital-native banking environment.
The move towards cloud-based services is not unique to NS&I. European retail banks are accelerating their cloud investments, with spending projected to rise by 57.5% from 2025 to 2030, reaching $12.6 billion according to a recent Celent report. NS&I looks forward to continuing its work with SBS and Atos to bring the digitization of its core system to fruition.
- By adopting SBP Digital Core, a cloud-native, composable core banking solution, NS&I is poised to deliver personalized, relevant banking experiences, ensuring regulatory compliance, and fostering business growth through technology.
- As part of its Transformation Programme, NS&I's decision to transition to SBS's SBP Digital Core for its core banking and payments services reflects the ongoing trend in the finance industry for digital transformation, scalability, and improved customer experiences.
