Our vision, purposes and values
Our vision
We want to inspire a stronger savings culture by being the most trusted UK savings provider. Giving everyone the opportunity to save confidently.
Our purposes
Creating value through delivering cost-effective finance.
Providing services to Government.
Helping Government delivery policy objectives.
Our values
With our customers:
Secure
100% security for savings, backed by HM Treasury. Our digital security is trustworthy. We protect our business.
Inspiring
Acting decisively and confidently for customers, working with pace to create value and inspiring them to secure their financial future.
Straightforward
Clear, every day, understandable language. Products designed simply to meet our customers’ needs, and easy-to-use services.
Reassuringly human
We listen to our customers and understand and respond to their needs. We care for our customers, our environment and the public good.
With our people:
We are responsible and do the right thing. We deliver safely and take a balanced approach to innovation and risk.
We use fresh thinking for the public good. We have a willingness to learn quickly. Diversity, innovation and curiosity are welcomed.
We have integrity and work together in straightforward ways. What we say matters. We are empowered by our leadership.
A small organisation with a big reach. We care for colleagues, respect one another, and invest in our people and manage their talent effectively.
About NS&I
Our products and services
National Savings and Investments (NS&I) raises cost-effective financing for the Government. We do this by offering savers the opportunity to invest in our range of savings products. When customers invest in NS&I products, they are lending to the Government. In return, the Government offers 100% security on all deposits and pays interest or prizes for Premium Bonds.
NS&I is one of the largest savings organisations in the UK with more than 24 million customers and over £218 billion invested. NS&I is both a government department and an Executive Agency of the Chancellor of the Exchequer. Our origins can be traced back more than 160 years to 1861. When customers invest in NS&I products, they are lending to the Government. In return, the Government pays interest or prizes for Premium Bonds. We offer 100% security on all deposits.
Alongside our core aim of delivering finance to HM Treasury to support public spending, we also have two other functions:
We leverage our expertise in banking and payment processing to provide these services to our partners across government. This provides other departments and public bodies with high quality, efficient services and provides NS&I with a funding source to support our core retail savings business.
We also use our knowledge of the savings sector to help government deliver its policy objectives. This includes delivering specific ‘policy products’ within the savings sector.
In October 2021, we were proud to launch the world’s first sovereign green savings bond for retail investors. It gives UK savers the opportunity to support government spending projects that will accelerate the transition to a low carbon economy, create green jobs and participate in the collective effort to tackle climate change.
Our operating model and outsourcing partnership
NS&I is both a government department and an Executive Agency of the Chancellor of the Exchequer. We employ around 200 civil servants based largely in our London headquarters but also in our operational sites in Lytham, Durham and Glasgow. Our people are drawn from across the private and public sectors, with many coming from other financial services providers.
At the heart of our efficient operating model is our outsourcing partnership, currently with Atos. Atos deliver customer-facing services using a number of sites across the UK and also draw upon back-office services in Chennai, India.
Following a strategic review of our future business needs, HM Treasury approved and funded a long-term transformation of our business.
Our ‘Transformation Programme’ will see NS&I transition from a single public private partnership to a multi-supplier operating model. This change in approach is designed to:
- Measurably reduce the costs of running the business to ensure the sustainability of NS&I and to deliver long-term value for government.
- Deliver more nimbly, reducing risk and enhancing scalability; and
- Help NS&I become easier for customers to save with, as a self-service digital business with strong support for vulnerable and digitally excluded customers.