21-05-2025
UK government seeks open banking supplier for Universal Credit
The UK government has begun a procurement process to find an open banking technology supplier for use with its Universal Credit social security payments.
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The Department for Work & Pensions (DWP) started an open banking trial for UC late last year, providing claimants with a secure and simple online process to share bank balance and transaction data.
Now it is on the hunt for a supplier that will help it provide the ability for citizens to share balance and transaction details for all their bank accounts, and to verify these accounts.
Other open banking products could follow, meaning the chosen supplier will need to be able to expand its offering.
As first reported by Global Government Fintech, the procurement process is being run via the 'Open Banking Dynamic Purchasing System' run by the Crown Commercial Service.
