News

Increased Competition for Local Authority Banking Contracts

During the last two years or so, we have seen an increased level of competition from banks tendering for local authority contracts. It is now common for local authorities to receive three or four competitive bids at tender whereas historically one or two bids was typical.

The increased competition has resulted in downward pressure on pricing and it also means that more local authorities are moving bank in order to secure savings which can be significant.

Focus on Banking has now worked with around 300 local authorities helping them review/tender their banking contracts.