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FSCS580 Risk Management System

Financial Services Compensation Scheme

This public procurement record has 2 releases in its history.

Award

05 Oct 2026 at 23:47

UK6 - Contract Award Notice
Tender

05 Aug 2026 at 23:14

UK4 - Tender Notice
Summary of the contracting process

The Financial Services Compensation Scheme (FSCS) procured licensing, support and maintenance for a risk management system. This is an information technology services requirement, covering the software licence and the ongoing technical support and maintenance needed to operate the system. The service is for FSCS, with delivery in the United Kingdom. The procurement was structured as a single lot and was considered suitable for small and medium-sized enterprises. The system’s expected technical specification was set out through functional and non-functional requirements, and suppliers were expected to provide a system demonstration or presentation as part of the later evaluation stage.

The procurement is complete and a supplier has been selected: RSM UK Tax and Consulting LLP. The award was dated 5 October 2026, at a gross value of £420,000. The initial contract period runs from 16 October 2026 to 15 October 2029, with two possible 12-month extensions and a maximum term ending 15 October 2031. FSCS used an open competitive flexible procedure with two stages. Seven bids were received, with four reaching the final stage. Bidders first had to satisfy financial, legal and technical participation conditions; the final evaluation weighted technical quality at 70% and price at 30%.

For suppliers of risk management software, this award shows demand from FSCS for a licensed system backed by support and maintenance, rather than a one-off technology supply. A credible competitor would need to demonstrate that its system meets functional and non-functional requirements, and be able to provide dependable ongoing support. The procurement also indicates that suppliers must be ready to evidence financial, legal and technical eligibility before their tender is fully assessed, then present or demonstrate the system in a later stage. Smaller businesses can compete: the opportunity was marked suitable for SMEs, and three SME bids reached the final evaluation stage. The buyer assessed technical quality more heavily than price, so suppliers need a strong technical case as well as a competitive cost proposal.

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Notice Information

Notice Title

FSCS580 Risk Management System

Notice Description

Provision of licensing, support and maintenance of a Risk Management System.

Lot Information

Lot 1

Renewal: FSCS may extend the contract twice by 12 months on each occassion (Maximum term 5 years).

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-06dcfd
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/094027-2026
Current Stage
Award
All Stages
Tender, Award

Procurement Classification

Notice Type
UK6 - Contract Award Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Open
Procurement Method Details
Competitive flexible procedure
Tender Suitability
SME
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

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

CPV Codes

72222300 - Information technology services

Notice Value(s)

Tender Value
£420,000 £100K-£500K
Lots Value
£420,000 £100K-£500K
Awards Value
£420,000 £100K-£500K
Contracts Value
Not specified

Notice Dates

Publication Date
5 Oct 20263 weeks ago
Submission Deadline
1 Sep 2026Expired
Future Notice Date
Not specified
Award Date
5 Oct 20263 weeks ago
Contract Period
16 Oct 2026 - 15 Oct 2029 3-4 years
Recurrence
Not specified

Notice Status

Tender Status
Complete
Lots Status
Complete
Awards Status
Pending
Contracts Status
Not Specified

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
Financial Services Compensation Scheme
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
EC3A 7AW
Postcode Area
Central London
Country
England
Major Region (ITL 1)
TLI London
Basic Region (ITL 2)
TLI3 Inner London - West
Small Region (ITL 3)
TLI35 Westminster and City of London
Delivery Location
TLI4 Inner London - East
Local Authority
City of London
Electoral Ward
Aldgate
Westminster Constituency
Cities of London and Westminster

Supplier Information

Number of Suppliers
1
Supplier Name

RSM UK TAX AND CONSULTING LLP

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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