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AI Live Testing Support

Financial Conduct Authority

This public procurement record has 6 releases in its history.

ContractAmendment

07 Sep 2026 at 10:09

UK10 - Contract Change Notice
ContractAmendment

29 May 2026 at 14:48

UK10 - Contract Change Notice
Award

25 Sep 2025 at 14:45

UK7 - Contract Details Notice
AwardUpdate

08 Sep 2025 at 15:53

UK6 - Contract Award Notice
Award

08 Sep 2025 at 11:13

UK6 - Contract Award Notice
Tender

08 Jul 2025 at 17:28

UK4 - Tender Notice
Summary of the contracting process

The Financial Conduct Authority (FCA) procured AI assurance consultancy to support its AI Live Testing service. The work is intended to help firms address challenges before deploying live artificial intelligence in UK financial markets, supporting safe and responsible adoption while balancing risks to markets and consumers. The service includes collaboration with participating firms, developing shared understanding, and exploring evaluation methods such as model metrics, frameworks and benchmarks across the AI lifecycle, from input quality control to outcome measurement. This is a specialist professional services requirement covering financial-market regulation, AI assurance and software-related services. Delivery is in the UK, for the FCA’s programme managed from London.

This procurement is complete and awarded following a single-lot open procedure. ADVAI LTD was awarded the contract on 8 September 2025 and the contract was signed on 22 September 2025. The estimated value was £375,000 excluding VAT (£450,000 including VAT); the award value was £280,560 excluding VAT (£336,672 including VAT), and the current contract value is £187,040 excluding VAT (£224,448 including VAT). The current contract period runs from 17 September 2026 to 17 March 2027, with a stated maximum extent of 29 January 2027 and one three-month extension option. Bids closed on 4 August 2025, enquiries on 24 July 2025, and the award period ended on 15 September 2025. Evaluation weighted technical quality at 70% and commercial proposal at 30%. Fourteen bids were received, with seven reaching the final stage, including six from SMEs. Additional resource was later required because of greater-than-expected programme interest.

For a future requirement from the FCA, credible suppliers would need demonstrable AI assurance consultancy capability focused on live deployment in financial services and regulated markets. Relevant expertise includes assessing risks across the AI lifecycle, designing or applying model metrics, evaluation methods, frameworks and benchmarks, and translating technical findings into practical guidance for firms, markets and consumers. Suppliers should be able to work collaboratively with programme participants, build shared understanding of responsible AI adoption, and support structured engagements at sufficient scale to respond to demand. The award of a specialist SME after a competition with multiple final-stage bidders indicates that focused AI assurance expertise and a strong technical proposal are central to competing for this type of FCA work.

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Notice Information

Notice Title

AI Live Testing Support

Notice Description

This contract is for AI assurance consultancy expertise to support the AI Live Testing service. The purpose of the contract is to enable the safe and responsible adoption of AI in UK financial services to unlock its potential for markets and consumers, whilst balancing its risks. FCA AI Live Testing, as part of the AI Lab, will explore the challenges that firms face before live AI deployment in UK financial markets. It aims to foster collaboration, develop shared understanding, and explore evaluation methods (e.g. model metrics) and potential frameworks or benchmarks that may facilitate safe and responsible AI use throughout its lifecycle, from input quality control to outcomes measurement.

Lot Information

Lot 1

Renewal: There is a single extension option included in this tender of an additional 3 month term.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-055b82
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/084229-2026
Current Stage
Award
All Stages
Tender, Award

Procurement Classification

Notice Type
UK10 - Contract Change Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Open
Procurement Method Details
Open procedure
Tender Suitability
Not specified
Awardee Scale
SME

Common Procurement Vocabulary (CPV)

CPV Divisions

48 - Software package and information systems

66 - Financial and insurance services

72 - IT services: consulting, software development, Internet and support

CPV Codes

48812000 - Financial information systems

66152000 - Financial market regulatory services

72260000 - Software-related services

Notice Value(s)

Tender Value
£375,000 £100K-£500K
Lots Value
£375,000 £100K-£500K
Awards Value
£280,560 £100K-£500K
Contracts Value
£187,040 £100K-£500K

Notice Dates

Publication Date
7 Sep 20261 months ago
Submission Deadline
4 Aug 2025Expired
Future Notice Date
Not specified
Award Date
8 Sep 20251 years ago
Contract Period
17 Sep 2026 - 17 Mar 2027 6-12 months
Recurrence
Not specified

Notice Status

Tender Status
Complete
Lots Status
Complete
Awards Status
Active
Contracts Status
Active

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
Financial Conduct Authority
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
Postcode Area
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, TLI41 Hackney and Newham
Local Authority
Newham
Electoral Ward
Stratford Olympic Park
Westminster Constituency
Stratford and Bow

Supplier Information

Number of Suppliers
1
Supplier Name

ADVAI LTD

Further Information

Notice Documents

Open Contracting Data Standard (OCDS)

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