Award

Open Banking - Future Entity Facilitation

FCA

This public procurement record has 1 release in its history.

Award

03 Mar 2026 at 11:05

Award Notice
Summary of the contracting process

The Financial Conduct Authority (FCA) has concluded the procurement process for a contract titled "Open Banking - Future Entity Facilitation," classified under business and management consultancy services. The industry category is services, with key operations being undertaken in London, United Kingdom. The process transitioned through the award stage as of 03 March 2026, and the contract was awarded to KPMG LLP. The tender utilised a selective procurement method via a call-off from a framework agreement, valued at £285,879.60 initially and subsequently awarded at £300,000. The contract period extends from 30 January 2026 through to 17 April 2026.

This tender provides substantial prospects for organisational growth, especially for consultancies capable of establishing standards setting bodies within the financial services sector. The awarded contract to KPMG LLP indicates that businesses possessing robust expertise in business consultancy and management, particularly those able to navigate the intricacies of open banking, are well-suited to compete in similar procurements. Although the opportunity was not suitable for SMEs or VCSEs, large enterprises in the consultancy field may find similar projects beneficial for expanding their service portfolios in a regulated environment.

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Notice Information

Notice Title

Open Banking - Future Entity Facilitation

Notice Description

To run an independent process to identify the organisation best placed to take forward the establishment of a standards setting body.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-2ee04ced-d453-420a-b33a-398d3f982cde
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/71200651-e524-4245-9f45-0420de322e37
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Framework
Procurement Category
Services
Procurement Method
Selective
Procurement Method Details
Call-off from a framework agreement
Tender Suitability
Not specified
Awardee Scale
Not specified

Common Procurement Vocabulary (CPV)

CPV Divisions

79 - Business services: law, marketing, consulting, recruitment, printing and security

CPV Codes

79410000 - Business and management consultancy services

Notice Value(s)

Tender Value
£285,879 £100K-£500K
Lots Value
Not specified
Awards Value
£300,000 £100K-£500K
Contracts Value
Not specified

Notice Dates

Publication Date
3 Mar 20261 months ago
Submission Deadline
9 Jan 2026Expired
Future Notice Date
Not specified
Award Date
23 Jan 20262 months ago
Contract Period
30 Jan 2026 - 17 Apr 2026 1-6 months
Recurrence
Not specified

Notice Status

Tender Status
Complete
Lots Status
Not Specified
Awards Status
Active
Contracts Status
Not Specified

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
FCA
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
LONDON
Postcode
E20 1JN
Post Town
East London
Country
England
Major Region (ITL 1)
TLI London
Basic Region (ITL 2)
TLI4 Inner London - East
Small Region (ITL 3)
TLI41 Hackney and Newham
Delivery Location
TLI London
Local Authority
Newham
Electoral Ward
Stratford Olympic Park
Westminster Constituency
Stratford and Bow

Supplier Information

Number of Suppliers
1
Supplier Name

KPMG

Further Information

Notice Documents

Open Contracting Data Standard (OCDS)

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The Open Contracting Data Standard (OCDS) is a framework designed to increase transparency and access to public procurement data in the public sector. It is widely used by governments and organisations worldwide to report on procurement processes and contracts. 

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