RFP For Benefit Banking Services
Active Open Market Competitive Sealed Proposal Illinois Awarded
- Contract number
- 24-427DES-FINAN-P-87895
- Awardee
- CONDUENT STATE & LOCAL SOLUTIONS, INC.
- Contracting organization
- Finance Bureau
- Contract amount
- $5,681,409
Award facts
- Completion date
- NIGP code
- UNSPSC codes
- 84101602 Bi lateral or multi lateral aid
- 84121602 Letter of credit services
- 84121605 Currency conversion service
- 93151701 Currencies or coinage
- 93151608 Government or central bank services
- 64151500 Representative money or currency
- 84121603 Currency exchange services
- 84101603 Non governmental aid
- 84121604 Spot exchange transaction services
- 84121601 Funds clearance services
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- 93151702 National bank notes
- 64150000 Monetary instruments or currency
- 84120000 Banking and investment
- 84111700 Corporate finance
- 84121600 Funds transfer and clearance and exchange services
- 84122000 Cash vault services
- 64151502 Commercial banknotes
- 64151504 Local currency
- 64151505 Digital currency
- 84101604 Government aid
- 84121501 Privately owned banks
- 84121502 Publicly owned banks
- 84121503 Credit unions
- 84121504 Development finance institutions
- 84122001 Deposit verification services
- 84121500 Banking institutions
- 93151700 Currency
- 64151503 Coins or coinage
- 64151501 National banknotes
- 84101601 Co financing
- 84121607 Operating lease finance service
- 84121606 Remittance processing services
- 93141901 Agricultural commercial banking services
Award details come from bidbuy.illinois.gov. Updated .
About this award
The State of Illinois Department of Employment Security (IDES) has awarded a Benefit Banking Services contract to Conduent State & Local Solutions, Inc. for managing unemployment insurance claimant payment processing. The initial five-year contract, valued at $5.681 million, covers banking services for delivering unemployment benefits through multiple transaction channels, including prepaid debit cards and direct deposits. The contract encompasses approximately 260,000 monthly benefit transactions, with an estimated 34,000 new claimant accounts and 130,000 existing claimant accounts to be serviced monthly.
The contract, identified as 24-427DES-FINAN-P-87895, includes comprehensive banking infrastructure supporting lockbox services for collecting overpayment repayments, online portal access, and an Interactive Voice Response (IVR) system for payment processing. U.S. Bank National Association is identified as a subcontractor. The agreement provides for potential renewal for an additional five-year term, with the total potential contract value reaching $11.363 million. Services will include managing transaction accounts with expected average balances ranging from $2 million to $30 million, and facilitating the state's goal of transitioning claimants from paper checks to digital payment methods.
Line items
| Item | Total |
|---|---|
| Initial Term for Banking services for Unemployment Insurance Claimants at $800,000.00 per year for five (5) years for a total of $4,000,000.00. Please submit pricing on Attachment H -Pricing Worksheet. | — |
Files
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Quick answers
Who was awarded contract 24-427DES-FINAN-P-87895?
Contract 24-427DES-FINAN-P-87895 was awarded to CONDUENT STATE & LOCAL SOLUTIONS, INC. by Finance Bureau in Illinois on November 3, 2025.
How much is contract 24-427DES-FINAN-P-87895 worth?
Its contract amount is $5,681,409.
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