The contract will last for seven years, the NS&I said, though it wouldn’t reveal its value as it is commercially confidential. NS&I will provide processing payments for immigration services, such as visas, and aims to cut costs by 10%.
The bank already provides payments processing for the Courts Funds Office and the Equitable Life Payment Scheme. NS&I chief Jane Platt told CSW that the Courts Funds Office saved “25% of their running costs in the first year,” adding that civil service bodies should view NS&I as a good payments systems partner because it’s “a trusted brand, who’s in government, and knows about the trials and tribulations of being an accounting officer.”
Read the full interview with Platt here