---
title: "Risk and Audit System Replacement Project"
ocid: "ocds-b5fd17-17c9adb4-68bc-4d15-b35e-a2bc9c299fec"
canonical_url: "https://d3tenders.com/contract/?ocid=ocds-b5fd17-17c9adb4-68bc-4d15-b35e-a2bc9c299fec"
markdown_url: "https://d3tenders.com/contract/ocds-b5fd17-17c9adb4-68bc-4d15-b35e-a2bc9c299fec.md"
json_url: "https://d3tenders.com/contract/ocds-b5fd17-17c9adb4-68bc-4d15-b35e-a2bc9c299fec.json"
source: "Contracts Finder"
current_stage: "Award"
buyer: "FCA"
published: "2024-10-16"
---

# Risk and Audit System Replacement Project

Buyer: FCA  
Current stage: Award  
OCID: ocds-b5fd17-17c9adb4-68bc-4d15-b35e-a2bc9c299fec

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## Summary

The Financial Conduct Authority (FCA) has successfully completed the procurement process for the "Risk and Audit System Replacement Project". The project involved sourcing a new risk management solution and a replacement for Internal Audit's use of the Pentana system, both necessitated by the end of current contracts in March and June 2025 respectively. The procurement falls under the IT software package category and follows an open procedure (above threshold). The awarded contract, valued at £565,550, commenced on 23rd September 2024 and will run through to 22nd September 2029. The primary location for this contract is London, United Kingdom (postal code E20 1JN).

This tender offers significant opportunities for businesses specialising in IT software solutions, particularly those capable of delivering integrated risk management and audit systems. The extended contract term of three years, with the possibility of two additional one-year extensions, presents sustained engagement prospects for the winning supplier, CoreStream. While this tender was not deemed suitable for SMEs or VCSEs, it opens growth avenues for larger IT firms looking to secure long-term contracts with prominent financial regulatory bodies like the FCA. Business growth can be achieved by demonstrating expertise in delivering bespoke software solutions that meet stringent regulatory and operational requirements.

## Notice

The FCA need to procure a new risk management solution as the current contract with the incumbent supplier will come to an end in Mar 25. In parallel to this, Internal Audit's use of the Pentana system will also come to a close in June 25 (also due to end of contract lifetime), and the Risk and Audit System replacement project has been stood up to source a new contract that satisfies both areas, along with a system fit for purpose for both areas. The contract term requirement would be a 3+1+1 year contract.

## Key Details

| Field | Value |
| --- | --- |
| Publication source | Contracts Finder |
| Latest notice | https://www.contractsfinder.service.gov.uk/Notice/403b54af-336a-4fbb-8db4-3b7f3c202431 |
| Notice type | Award Notice |
| Procurement type | Standard |
| Procurement category | Goods |
| Procurement method | Open |
| Procurement method details | Open procedure (above threshold) |
| Tender suitability | Not specified |
| Awardee scale | Not specified |
| All stages | Award |

## Dates

| Field | Value |
| --- | --- |
| Publication date | 16 Oct 2024 |
| Submission deadline | 4 Mar 2024 |
| Future notice date | Not specified |
| Award date | 22 Sep 2024 |
| Contract period | 22 Sep 2024 - 22 Sep 2029 |
| Recurrence | Not specified |

## Values

| Field | Value |
| --- | --- |
| Tender value | £565,550 |
| Lots value | Not specified |
| Awards value | £565,550 |
| Contracts value | Not specified |

## Status

| Field | Value |
| --- | --- |
| Tender status | Complete |
| Lots status | Not specified |
| Awards status | Active |
| Contracts status | Not specified |

## Buyer

| Field | Value |
| --- | --- |
| Main buyer | FCA |
| Locality | LONDON |
| Post town | East London |
| Postcode | E20 1JN |
| Country | England |
| ITL 1 | TLI London |
| ITL 2 | TLI4 Inner London - East |
| ITL 3 | TLI41 Hackney and Newham |
| Local authority | Newham |
| Electoral ward | Stratford Olympic Park |
| Westminster constituency | Stratford and Bow |
| Delivery location | TLI London |

## Supplier

| Field | Value |
| --- | --- |
| Number of suppliers | 1 |
| Supplier names | CORESTREAM |

## CPV Codes

### Divisions

- 48 - Software package and information systems

### Codes

- 48517000 - IT software package

## Release History

- 16 Oct 2024 at 16:22 - Award - Award Notice - https://www.contractsfinder.service.gov.uk/Notice/403b54af-336a-4fbb-8db4-3b7f3c202431

## Documents

- https://www.contractsfinder.service.gov.uk/Notice/403b54af-336a-4fbb-8db4-3b7f3c202431
  16th October 2024 - Awarded contract notice on Contracts Finder

## Provenance

This Markdown file is an alternate public rendering of the D3 Tenders contract record. The canonical page is https://d3tenders.com/contract/?ocid=ocds-b5fd17-17c9adb4-68bc-4d15-b35e-a2bc9c299fec. The underlying structured data is available as OCDS JSON at https://d3tenders.com/contract/ocds-b5fd17-17c9adb4-68bc-4d15-b35e-a2bc9c299fec.json.