FSQS Certificate
Last updated
Last updated
The FSQS (Financial Services Qualification System) is a qualification and compliance standard widely used by financial institutions in the UK and Europe to assess the risk, performance, and compliance of suppliers and service providers. Managed by Hellios Information, FSQS is a community-driven approach designed to streamline the process of collecting and sharing supplier information for banks, insurance companies, and other financial organizations, ensuring that suppliers meet regulatory and security standards.
FSQS provides benefits such as:
Centralized Supplier Data: Suppliers complete a single questionnaire for all participating financial institutions, reducing duplicated efforts and administrative burdens.
Risk Assessment: The platform helps financial institutions assess potential risks in areas such as cybersecurity, operational resilience, data protection, and regulatory compliance.
Regulatory Compliance: By using FSQS, suppliers demonstrate compliance with industry regulations like GDPR, Anti-Money Laundering (AML) standards, and other financial service requirements.
Streamlined Procurement: FSQS enables faster and more efficient procurement processes, as suppliers are pre-qualified and vetted, enhancing trust and collaboration across the financial sector.
For suppliers, being FSQS-certified increases their credibility and can make them more attractive to financial clients by showing a commitment to meeting high standards in security and compliance.