Legacy banking system of NS&I set for replacement by SBS's modern, cloud-based digital platform.
The National Savings and Investments (NS&I) has announced a significant move to modernise its operations by adopting SBS's cloud-native core banking system, SBP Digital Core. This decision marks a pivotal step in the organisation's digital transformation journey, joining the growing trend of European banks shifting from traditional on-premise systems to flexible, scalable, cloud-native infrastructures.
In a statement, Eric Bierry, CEO of SBS, emphasised the importance of cloud and Software-as-a-Service (SaaS) transformation in the financial industry, stating that it is not a matter of when, but how.
NS&I's transformation involves a collaboration with Atos, IBM, Sopra Steria, and SBS Digital Core. The initiative aims to deliver modernised and efficient business processes, faster product and service delivery, and improved digital experiences for customers. The cloud platform will also ensure support for those requiring assistance, thereby improving overall service quality.
The use of AWS's cloud environment provides NS&I with complete flexibility and scalability, allowing the organisation to adjust data storage and infrastructure dynamically as needed. This flexibility leads to cost and operational efficiencies, a key benefit of the transition.
The shift to SBP Digital Core is a critical step in the evolution of NS&I, according to Matt Smith, Chief Operating Officer at NS&I. The platform will power all of NS&I's Retail banking and payments services, enabling regular, automatic system updates, reducing disruptions to daily operations.
SBP Digital Core is designed to allow banks to offer modern cloud-based banking services, providing personalised and relevant banking experiences while complying with regulatory requirements. The platform is part of SBS's larger retail banking offerings, used by over 1,500 banks across Europe, the Middle East, and Africa.
The transformation program is expected to make NS&I's operations more scalable and improve service to millions of retail customers. It is evidence that banks can execute cloud and SaaS transformation to drive efficiencies and experiences, in line with the broader trend in the European banking industry.
According to a recent Celent report, European retail banks are accelerating their cloud investments, with spending projected to rise by 57.5% from 2025 to 2030, reaching $12.6 billion. This strategic pivot towards cloud is aimed at enabling faster innovation and digital transformation.
NS&I looks forward to continuing its work with SBS and Atos to bring the transformation to fruition. The organisation is optimistic about the potential benefits, including operational resilience and risk management, as it navigates the digital landscape and prepares for future challenges.
[1] Source: SBS Press Release [2] Source: NS&I Press Release [3] Source: Celent Report: European Retail Banking Cloud Adoption Trends [4] Source: European Commission's Digital Operational Resilience Act (DORA)
- ffnews.com might publish an article about the modernization of NS&I's operations, which includes the adoption of SBS's cloud-native core banking system, SBP Digital Core, and collaboration with technology partners like Atos, IBM, Sopra Steria, and AWS, aiming to deliver efficient business processes and improved digital experiences for customers.
- While the European banking industry is shifting towards cloud-native infrastructure, finance experts are discussing the importance of cloud and Software-as-a-Service (SaaS) transformation in the sector, with SBS Digital Core being a prime example, used by over 1,500 banks across Europe, the Middle East, and Africa, including NS&I for its retail banking services.
