French tech firm Sopra Steria has been awarded two major government contracts with a combined value of £369 million.

The deal with National Savings and Investments (NS&I), the UK’s government-owned savings bank best known for premium bonds, will see Sopra Steria manage tens of millions of customer contacts each year and a savings book of more than £220 billion. 

The purpose-led digital transformation provider will manage NS&I’s frontline contact centre to assist customers with digital self-service interactions. Within this, the organisation will provide improved options for those in vulnerable or digitally excluded situations to ensure all customers have appropriate and inclusive access to NS&I services.

Service transition, which begins in spring 2024, will see Sopra Steria responsible for helping deliver vital government schemes through NS&I’s business-to-business operation, including childcare services, Help to Buy ISAs, Help to Save, the Mortgage Guarantee Scheme, and the Court Funds Office.

“These contract wins solidify our position in the financial services market in the UK and reflect our significant investment in the sector,” said John Neilson, CEO. “We’re ideally placed to create an exceptional customer experience for NS&I’s savers, having delivered many similar contracts, at scale, in both the private and public sectors.

“Our skilled and experienced teams have worked hard to create a solution that ensures inclusivity and accessibility for all NS&I’s customers. We’re looking forward to delivering the transformational change NS&I needs.”

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Matthew Smith, NS&I chief operating officer, said: “We’ve played a role in our savers’ lives for over 160 years and in that time we’ve evolved as customer expectations have changed and the industry has modernised. 

“So I am delighted that after a competitive process, the awarding of these packages is another important milestone in our journey to becoming the UK’s most trusted savings provider.

“Our transformation programme will significantly improve customers’ experience of NS&I providing more flexibility and choice while also improving our efficiency.”

Sopra Steria will also provide essential back-office services for NS&I, including managing the end-to-end internal banking service between NS&I and HM Treasury, HM Revenue and Customs and the Ministry of Justice.

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