FSQS expands the community of Financial Services Organisations
We are pleased to see the community significantly grow as more organisations in Financial Services taking advantage of the FSQS service, with the Hiscox and Sainsbury's Bank joining esure and Numis to take the number of organisations to over 50 financial services organisations now using FSQS to support their supplier and third party qualification, compliance and risk management processes.
The concept of FSQS was the creation, of a collaborative system where suppliers could complete and maintain a single profile, which is then shared by their major customers in the financial services sector, to reduce the duplication of effort and cost associated with qualification and compliance.
We are delighted this vision has now been fully realised as more financial services organisations join FSQS, as there are now over 50 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 now being used, by over 50 Banks Building and Insurance companies:
ABN AMRO Bank
Furness Building Society
We are pleased to welcome the new buying organisations to the FSQS community and to congratulate Helios FSQS on gaining greater visibility in the financial services sector of the FSQS system.
With the decisions of more organisations joining the FSQS Community, it should result in even greater reductions in duplication of time and effort. As the same profile 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 supplier's 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