This public procurement record has 1 release in its history.

Award

20 Jul 2026 at 07:57

Summary of the contracting process

The Financial Conduct Authority (FCA) has completed the procurement of a "Text to video AI tool" under a direct procurement method, classified below the threshold and without competition. The contract, managed from their London office at 12 Endeavour Square, began on 13th July 2026 and is set to conclude on 2nd November 2026. This procurement was for services in the IT industry, specifically for AI software tools, and was awarded to SYNTHESIA LIMITED, a large IT service provider based in London. The total contract value is £30,753.42, with a gross amount of £36,904.10, as per the contract signed on 23rd June 2026.

This procurement presents growth opportunities for businesses involved in IT software and services, particularly those specialising in AI technologies. As the contract did not involve competition due to being below threshold, companies capable of directly providing innovative AI solutions may find similar opportunities by engaging with public authorities like the FCA. Large-scale IT firms with capabilities in software development and consulting are well-positioned to benefit from such direct procurement processes.

How relevant is this notice?

Notice Title

Text to video AI tool

Notice Description

The purpose of this contract is for the supplier to provide text to video AI tool licences.

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-06ce65
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/068044-2026
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
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

48 - Software package and information systems

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


CPV Codes

48517000 - IT software package

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

Notice Value(s)

Tender Value
Not specified
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
£30,753 Under £100K

Notice Dates

Publication Date
20 Jul 20262 weeks ago
Submission Deadline
Not specified
Future Notice Date
Not specified
Award Date
22 Jun 20261 months ago
Contract Period
12 Jul 2026 - 2 Nov 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
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
Not specified

Local Authority
Newham
Electoral Ward
Stratford Olympic Park
Westminster Constituency
Stratford and Bow

Supplier Information

Number of Suppliers
1
Supplier Name

SYNTHESIA

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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