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 with The Financial Conduct Authority becoming the 45th financial services organisation using FSQS to support their supplier and third party qualification, compliance and risk management processes.
The FSQS community has now been joined by The Financial Conduct Authority and they have become the 45th organisation to make use of 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. This reduces the duplication of effort and cost associated with qualification and compliance.
We are delighted this vision continues to be realised as more financial services organisations join FSQS, as there are now 45 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 45 Banks Building and Insurance companies:
Lloyds Banking Group
Bank of England
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
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