CFPB Awards $11.5M for ICAM Support Services to Redmatter Solutions LLC

Contract Overview

Contract Amount: $11,487,032 ($11.5M)

Contractor: Redmatter Solutions LLC

Awarding Agency: Consumer Financial Protection Bureau

Start Date: 2023-03-31

End Date: 2026-03-30

Contract Duration: 1,095 days

Daily Burn Rate: $10.5K/day

Competition Type: FULL AND OPEN COMPETITION

Pricing Type: LABOR HOURS

Sector: IT

Official Description: ICAM SUPPORT SERVICES

Place of Performance

Location: ARLINGTON, ARLINGTON County, VIRGINIA, 22209

State: Virginia Government Spending

Plain-Language Summary

Consumer Financial Protection Bureau obligated $11.5 million to REDMATTER SOLUTIONS LLC for work described as: ICAM SUPPORT SERVICES Key points: 1. Contract value of $11.5M over 3 years. 2. Awarded via BPA Call under full and open competition. 3. Focuses on Computer Systems Design Services. 4. No small business participation noted.

Value Assessment

Rating: good

The contract value of $11.5M for 3 years appears reasonable for specialized ICAM support services. Benchmarking against similar IT support contracts would provide a more precise assessment.

Cost Per Unit: N/A

Competition Analysis

Competition Level: full-and-open

Awarded through a BPA Call under full and open competition, indicating a competitive process. The pricing was likely determined through market research and competitive bids within the BPA.

Taxpayer Impact: The competitive award process aims to ensure taxpayer funds are used efficiently for necessary IT support services.

Public Impact

Ensures continuity of critical Identity, Credential, and Access Management (ICAM) services for the CFPB. Supports the agency's cybersecurity posture and data protection. Potential impact on financial services sector if ICAM systems are compromised.

Waste & Efficiency Indicators

Waste Risk Score: 50 / 10

Warning Flags

Lack of small business participation.
Potential for vendor lock-in if not managed carefully.

Positive Signals

Awarded under full and open competition.
Supports critical cybersecurity functions.

Sector Analysis

This contract falls within the IT services sector, specifically Computer Systems Design Services. Spending in this area is crucial for government agencies to maintain modern and secure IT infrastructure.

Small Business Impact

The contract is not set aside for small businesses, and the awardee is not a small business. This indicates a missed opportunity to support small businesses in the federal contracting space.

Oversight & Accountability

The award was made under a BPA Call, suggesting existing oversight mechanisms are in place. Further review of task order performance and adherence to contract terms is recommended.

Related Government Programs

Computer Systems Design Services
Consumer Financial Protection Bureau Contracting
Consumer Financial Protection Bureau Programs

Risk Flags

No small business participation.
Reliance on a single vendor for critical ICAM support.
Potential for scope creep if not managed tightly.

Frequently Asked Questions

What is this federal contract paying for?

Consumer Financial Protection Bureau awarded $11.5 million to REDMATTER SOLUTIONS LLC. ICAM SUPPORT SERVICES

Who is the contractor on this award?

The obligated recipient is REDMATTER SOLUTIONS LLC.

Which agency awarded this contract?

Awarding agency: Consumer Financial Protection Bureau (Consumer Financial Protection Bureau).

What is the total obligated amount?

The obligated amount is $11.5 million.

What is the period of performance?

Start: 2023-03-31. End: 2026-03-30.

What is the specific scope of ICAM support services being provided?

The scope includes computer systems design services related to Identity, Credential, and Access Management (ICAM). This typically encompasses the design, implementation, and maintenance of systems that manage user identities, authentication, and authorization, ensuring only authorized personnel have access to sensitive data and systems.

What are the key performance indicators (KPIs) for this contract?

Key performance indicators would likely focus on system uptime, response times for access requests, security incident resolution times, and successful implementation of new ICAM features or policies. These metrics ensure the contractor meets the agency's operational and security requirements effectively.

How does this contract contribute to the CFPB's overall cybersecurity strategy?

This contract is integral to the CFPB's cybersecurity strategy by ensuring robust management of user identities and access controls. Strong ICAM practices are fundamental to preventing unauthorized access, data breaches, and insider threats, thereby protecting sensitive consumer financial data.

Industry Classification

NAICS: Professional, Scientific, and Technical Services › Computer Systems Design and Related Services › Computer Systems Design Services

Product/Service Code: IT AND TELECOM - INFORMATION TECHNOLOGY AND TELECOMMUNICATIONS › IT AND TELECOM - NETWORK

Competition & Pricing

Extent Competed: FULL AND OPEN COMPETITION

Solicitation Procedures: SUBJECT TO MULTIPLE AWARD FAIR OPPORTUNITY

Pricing Type: LABOR HOURS (Z)

Evaluated Preference: NONE

Contractor Details

Address: 1550 WILSON BLVD, ARLINGTON, VA, 22209

Business Categories: 8(a) Program Participant, Asian Pacific American Owned Business, Category Business, Corporate Entity Not Tax Exempt, Minority Owned Business, Self-Certified Small Disadvantaged Business, Small Business, Special Designations, U.S.-Owned Business

Financial Breakdown

Contract Ceiling: $11,799,618

Exercised Options: $11,487,032

Current Obligation: $11,487,032

Actual Outlays: $10,973,469

Contract Characteristics

Commercial Item: COMMERCIAL PRODUCTS/SERVICES

Parent Contract

Parent Award PIID: 9531CB23A0004

IDV Type: BPA

Timeline