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SREP (Supervisory Review and Evaluation Process) AI POC

Financial Conduct Authority

This public procurement record has 1 release in its history.

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23 Jul 2026 at 12:29

UK7 - Contract Details Notice
Summary of the contracting process

The Financial Conduct Authority commissioned a proof of concept to assess whether artificial intelligence can support Supervisory Review and Evaluation Processes (SREPs) carried out by its Financial Resilience Department. The requirement is an information technology service involving AI-related consulting, software development, internet and support services. The work is for the FCA’s supervisory and financial-resilience activities, with the buyer based in London. It concerns one requirement rather than a multi-lot programme. The focus is on testing and demonstrating whether AI can assist an established regulatory review process, so relevant suppliers are those able to combine applied artificial intelligence with practical delivery, software capability and support for a public-sector or regulated operating environment.

The procurement has been completed and awarded through a direct award below the threshold, without competition. CAPITOL AI INC was selected as the supplier for the single requirement. The contract was signed on 2 April 2026 and runs from 2 April 2026 to 31 July 2026. Its value is USD 40,000 excluding tax, or USD 48,000 including tax. The recorded contract is active. The procurement was evaluated as a direct, non-competitive purchase rather than through an open tender, and the outcome is an active award to CAPITOL AI INC. The requirement is therefore an awarded AI proof-of-concept engagement for the FCA, not an uncompleted competition or a set of separately awarded lots.

This procurement shows the FCA’s interest in applying artificial intelligence to supervisory review work within its Financial Resilience Department. A credible competitor for a future requirement of this kind would need to demonstrate practical AI consulting and software development capability, with the ability to turn a proof of concept into a usable support tool. Experience of information-intensive review processes, secure handling of sensitive material and delivery in a regulated or public-sector setting would strengthen a supplier’s position. The work also calls for sufficient technical support to test, refine and explain an AI solution to operational users. Suppliers combining applied AI expertise with clear governance, implementation discipline and an understanding of financial regulation are the closest fit.

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Notice Information

Notice Title

SREP (Supervisory Review and Evaluation Process) AI POC

Notice Description

A proof of concept to see if AI can be used to support the SREPs (Supervisory Review and Evaluation Process) completed by FRD (Financial Resilience Department).

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-06d1c7
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/069657-2026
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

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

CPV Codes

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
£40,000 Under £100K

Notice Dates

Publication Date
23 Jul 20262 months ago
Submission Deadline
Not specified
Future Notice Date
Not specified
Award Date
Not specified
Contract Period
2 Apr 2026 - 31 Jul 2026 1-6 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
Not specified
Local Authority
Newham
Electoral Ward
Stratford Olympic Park
Westminster Constituency
Stratford and Bow

Supplier Information

Number of Suppliers
1
Supplier Name

CAPITOL AI INC

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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