This public procurement record has 5 releases in its history.

ContractAmendment

29 May 2026 at 13:48

Award

25 Sep 2025 at 13:45

AwardUpdate

08 Sep 2025 at 14:53

Award

08 Sep 2025 at 10:13

Tender

08 Jul 2025 at 16:28

Summary of the contracting process

The Financial Conduct Authority (FCA), located at 12 Endeavour Square, London, is engaged in a procurement process titled "AI Live Testing Support" within the financial services industry. The contract, valued at £374,080 net of VAT, is currently in the contract amendment stage and aims to extend the services provided by ADVAI LTD, a London-based SME, under a previously existing arrangement. This project, central to the FCA's AI Lab initiatives, encompasses consultancy expertise for AI assurance to support safe AI deployment in UK financial markets. This open procedure was initially advertised in July 2025, with the original contract period set from 15 September 2025 to a maximum extent date of 17 September 2026, including possible extensions. The current contract amends and extends this period to 18 September 2026.

This tender presents a unique opportunity for businesses specialising in AI consultancy, particularly in providing expertise related to AI system validation and risk management, to collaborate with a pivotal UK authority in financial regulation. The extension of services underscores the potential for further engagement in developing AI frameworks, evaluation methods, and fostering broad market discussions on AI use. Companies involved in software-related services with robust capabilities in research, risk assessment, and system metrics evaluation are well-suited to take advantage of the opportunities arising from the FCA's ongoing commitment to responsible AI utilisation. The established relationship with ADVAI LTD exemplifies how partnerships in this tender could lead to successful outcomes in shaping financial market AI innovation.

How relevant is this notice?

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.

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-055b82
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/050899-2026
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
£374,080 £100K-£500K

Notice Dates

Publication Date
29 May 20263 weeks ago
Submission Deadline
4 Aug 2025Expired
Future Notice Date
Not specified
Award Date
7 Sep 20259 months ago
Contract Period
18 Jun 2026 - 18 Sep 2026 1-6 months
Recurrence
Not specified

Notice Status

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

Contracting Authority (Buyer)

Main Buyer
FCA
Additional Buyers

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
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, 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

Further Information

Notice Documents

Open Contracting Data Standard (OCDS)

View full OCDS Record for this contracting process

JSON Markdown

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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