We're FSQS Accredited: What Is It And What Does It Mean For You?

Andrew Clare Head of Operations

Published on 17th March 2022

We are proud to announce that we have met all requirements in becoming fully registered within the Financial Supplier Qualification System (FSQS), a standard used by major UK banks and financial organisations when selecting suppliers.

As the financial sector is becoming more complex, this accreditation has benefitted us significantly by providing us with a system that enables us to control company information effectively, providing a simple route when demonstrating compliance to multiple customers and the ability to control our information as and when needed.

What is the FSQS?

FSQS is an accreditation tool that provides a standard for gathering and managing supplier compliance assurance information across the financial sector. The system is supported by leading financial organisations within the sector including the likes of Nationwide, Lloyds Banking and The Bank of England, and requires suppliers to be reviewed against FSQS requirements in key areas including health and safety, fraud, business continuity financial insurance and much more.

The review of suppliers against the FSQS requirements not only demonstrates their strong GDPR compliance but fundamentally removes the need to complete and update due diligence for new or existing suppliers, as every business will have already completed this as part of their FSQS accreditation.

This award not only demonstrates that we follow a successful audit process but also reflects on our capability within the finance industry as a responsible lender.

What does it mean for us - and for you?

Having the accreditation has made it easier for us to demonstrate compliance to the organisations we work with in a standardised way that is easily understood, and also makes processes simpler and quicker as we can gather the information once and reuse again. This saves us resource, and ensures that the evidencing part of any process is straightforward, rather than a delayer or a blocker.

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