FSQS expands the community of Financial Services Organisations
We are pleased to see the continued growth of organisations in Financial Services taking advantage of the FSQS service, FirstRand Bank Limited (London Branch) and Ecclesiastical Insurance have recently agreed to become the thirtieth first and thirtieth second financial services organisations using FSQS to support their supplier and third party qualification, compliance and risk management processes
These organisations have now been joined by the FirstRand Bank Limited (London Branch) and Ecclesiastical Insurance who have recently agreed to become the thirtieth first and thirtieth second services organisations using FSQS.
The concept of FSQS is a collaborative system where suppliers complete and maintain a single profile which is shared by their major customers in the financial services sector, in order to reduce the duplication of effort and cost associated with qualification and compliance. We are delighted that this vision continues to be realised as more financial services organisations join FSQS as there are now 32 Banks, Building Societies and Insurance financial services organisations within the FSQS community of purchasers.
What are the benefits of the FSQS Community?
FSQS helps introduce responsible business practices and is currently used by 30 Banks Building and Insurance companies: Lloyds Banking Group, Metro Bank, Santander, TSB, Shawbrook Bank, Aldermore Bank, Clydesdale Bank and Yorkshire Bank, Arbuthnot Latham, Nationwide Building Society, Weatherbys, The Bank of England, Bank of Ireland, Tokio Marine Kiln, Virgin Money, Royal Sun Alliance, Hinckley and Rugby Building Society, BNP Paribas, NFU Mutual, PCF Bank, Masthaven Bank, Schroders, Yorkshire Building Society, Family Building Society, AIB, LV=, Hastings Direct, Teachers Building Society, Revolut and MotoNovo Finance and now with FirstRand Bank Limited (London Branch) and Ecclesiastical Insurance. With a single online system for suppliers to submit qualification and compliance information to reduce duplication of time and effort.
With the decisions of these additional organisation joining the FSQS Community it should result in even greater reductions in duplication of time and effort, as the same profile of information is shared and used for qualification and compliance by all banks, building societies and insurers using FSQS. The principle of this community approach is that the benefits increase each time another bank or major financial services organisation joins the FSQS Community.
Please visit Hellios services for more details.
What information is shared in the FSQS Community?
The vast majority of information collected by FSQS relates to the suppliers company and its policies and procedures, plus the products and services which are supplied. Some of the questions asked are specific to a particular customer and where there are answers to questions that have been provided, which are deemed to be specific to a particular customer, this data will only be shared with the applicable customer and will not be shared with any other bank or financial services organisation or that may join FSQS in future.
ARCivate has achieved FSQS supplier qualification
accreditation for the financial sector