Scope
Reference
C3482
Description
This contract is for AI assurance consultancy expertise to support the AI Live Testing service. The purpose of the contract is to enable the safe and responsible adoption of AI in UK financial services to unlock its potential for markets and consumers, whilst balancing its risks.
FCA AI Live Testing, as part of the AI Lab, will explore the challenges that firms face before live AI deployment in UK financial markets. It aims to foster collaboration, develop shared understanding, and explore evaluation methods (e.g. model metrics) and potential frameworks or benchmarks that may facilitate safe and responsible AI use throughout its lifecycle, from input quality control to outcomes measurement.
Contract 1. AI Live Testing Support
Supplier
Contract value
- £280,560 excluding VAT
- £336,672 including VAT
Above the relevant threshold
Award decision date
8 September 2025
Date assessment summaries were sent to tenderers
8 September 2025
Standstill period
- End: 17 September 2025
- 8 working days
Earliest date the contract will be signed
18 September 2025
Contract dates (estimated)
- 19 September 2025 to 19 June 2026
- Possible extension to 17 September 2026
- 11 months, 29 days
Description of possible extension:
1 three month extension period available.
Main procurement category
Services
Options
The right to additional purchases while the contract is valid.
1 three month extension period available.
CPV classifications
- 72260000 - Software-related services
Contract locations
- UKI - London
Information about tenders
- 141 tenders received
- 7 tenders assessed in the final stage:
- 6 submitted by small and medium-sized enterprises (SME)
- 0 submitted by voluntary, community and social enterprises (VCSE)
- 1 supplier awarded contracts
- 6 suppliers unsuccessful (details included for contracts over £5 million)
Procedure
Procedure type
Open procedure
Supplier
ADVAI LTD
- Companies House: 12540124
20-22 Wenlock Road
London
N1 7GU
United Kingdom
Email: contact@advai.co.uk
Website: https://www.advai.co.uk/
Region: UKI41 - Hackney and Newham
Small or medium-sized enterprise (SME): Yes
Voluntary, community or social enterprise (VCSE): No
Supported employment provider: No
Public service mutual: No
Associated people/organisations:
N/A
Contract 1. AI Live Testing Support
Contracting authority
FCA
- Public Procurement Organisation Number: PTYH-4442-XPRH
12 Endeavour Square
London
E20 1JN
United Kingdom
Email: fcaprocurement@fca.org.uk
Website: http://www.fca.org.uk
Region: UKI41 - Hackney and Newham
Organisation type: Public authority - central government