16
Acknowledged
NS&I's core banking engine replacement and data migration pose significant risks
Conclusion
There are still many risks for the Programme to manage, for example the replacement of the ‘core banking engine’ is extremely high risk, but the main work has yet to start.41 NS&I agreed that when it replaced its banking engine, data migration would be a “huge consideration”, and said it knew this would need to be managed “in minute detail”, but gave no details of how it would do this. NS&I’s contract with Atos to run the banking engine expires in 2028, and it will need a new contract after then to ensure continuity.42
Government Response Summary
The Treasury and NS&I acknowledge concerns about risks to the Programme and are committed to addressing them through robust planning, risk management, and governance, including developing a comprehensive integrated plan and strengthening systems integration capabilities.
Government Response
Acknowledged
Government Response
Acknowledged
HM Government
Acknowledged
The Treasury and NS&I acknowledge these concerns and are committed to addressing them through robust planning, risk management, and governance. NS&I is working to develop a comprehensive integrated plan that includes clear timelines, cost estimates, and resource allocation. NS&I has strengthened its systems integration capabilities and is ensuring that decisions are based on sound evidence and analysis.
Source
Committee
Public Accounts Committee
Inquiry
NS&I’s transformation programme
Report
67th Report - NS&I’s transformation programme
13 Feb 2026
HC 1237
Addressee Bodies
HM Treasury
Timeline
Recommendation age
0.3 yrs
Report published
13 Feb 2026