NetFinance product to support online applications for nine NS&I savings and investment products
UK-based National Savings & Investments has selected Intelligent Environments Group’s online savings application product to replace an existing system.
The rolling three-year contract has been signed with Siemens IT Solutions and Services, who under a 15-year outsourcing contract with National Savings & Investments (NS&I) has been responsible for transforming the company’s IT and operations.
Under the contract, Siemens will provide Intelligent Environments Group’s (IE’s) NetFinance product to support online applications for nine NS&I savings and investment products, including premium bonds. IE will be deploying the latest version of its online banking product, NetFinance4, as part of this project.
Steve Owen, channel delivery and management director at NS&I, said: The decision to choose IE’s product to replace our current online application system was based on two factors: to continue to ensure that we remained abreast of the exciting new technology IE could offer us and to use that technology to manage our product portfolio to offer competitive and compelling savings and investments products to our customers.
Phillip Blundell, CEO of IE, said: We are delighted to secure this contract for NS&I, one of the largest savings and investment institutions in the UK. The real advantage NetFinance4 will deliver for NS&I is the ability to manage all aspects of their online product portfolio themselves; from changing existing rates or application flow design to deploying a new internet savings product.