Award

Provision of Smart Data Synthetic Data (BigSpark)

FCA

This public procurement record has 1 release in its history.

Award

12 Nov 2025 at 14:34

UK7 - Contract Details Notice
Summary of the contracting process

The public procurement process involves the Financial Conduct Authority (FCA), based in London, entering into a contract with BIGSPARK to provide smart data synthetic data services for their digital sandbox environment. This procurement is categorised under IT services, specifically software support, and is aimed at supporting innovation in open finance. The procurement stage for this particular contract is completed, with the final contract awarded on 12th November 2025 and valid until 9th November 2026, with options for annual extensions. The procurement method was via direct selection, indicating it was below the threshold without competition.

This tender presents significant opportunities for businesses involved in IT consulting and software development, particularly those specialising in data services. SMEs like BIGSPARK, who are adaptable and innovative, are well-suited to compete in similar contracts by leveraging their expertise in providing cross-sectoral datasets and supporting policy development initiatives. Engaging in such projects can enhance a company's portfolio in IT solutions and open financial data, positioning them as key players in these growing sectors.

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Notice Information

Notice Title

Provision of Smart Data Synthetic Data (BigSpark)

Notice Description

BigSpark will provide the FCA with a synthetic cross-sectoral dataset for the digital sandbox environment. This will enable the FCA to support firms innovating in the open finance and smart data area, and generate invaluable input into policy making. This is instrumental to successfully draft a regulatory framework for open finance, as stated in the FCA Strategy. The previous contract with the provider was centred on a much smaller dataset.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-05dfbc
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/073236-2025
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
UK7 - Contract Details Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Direct
Procurement Method Details
Below threshold - without competition
Tender Suitability
Not specified
Awardee Scale
SME

Common Procurement Vocabulary (CPV)

CPV Divisions

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

CPV Codes

72000000 - IT services: consulting, software development, Internet and support

72261000 - Software support services

Notice Value(s)

Tender Value
Not specified
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
£117,000 £100K-£500K

Notice Dates

Publication Date
12 Nov 20253 months ago
Submission Deadline
Not specified
Future Notice Date
Not specified
Award Date
11 Nov 20253 months ago
Contract Period
12 Nov 2025 - 9 Nov 2026 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
FCA
Contact Name
Pradeep Mishra
Contact Email
fcaprocurement@fca.org.uk
Contact Phone
Not specified

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
Not specified
Local Authority
Newham
Electoral Ward
Stratford Olympic Park
Westminster Constituency
Stratford and Bow

Supplier Information

Number of Suppliers
1
Supplier Name

BIGSPARK

Further Information

Notice Documents

Open Contracting Data Standard (OCDS)

View full OCDS Record for this contracting process

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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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