SMS becomes Financial Services Qualification System (FSQS) registered

SMS has successfully completed the FSQS Third Party Risk Management and Compliance process; an increasingly essential requirement for organisations that offer services and solutions to the financial services sector.  

FSQS is a community of financial institutions including banks, building societies, insurance companies and investment services, collaborating to agree a single standard for managing the increasing complexity of third and fourth-party information needed to demonstrate compliance to regulators, policies, and governance controls.

By joining FSQS, SMS is now able to call on a solution that reduces the time, cost, resources, and duplication needed to provide information to Banks, Building Societies, Insurance Companies, and Investment Companies when providing our energy services to them.

READ: How we helped a high-street bank implement energy-saving building management systems across its UK estate

With our compliance to FSQS now fully assessed and validated, buyer members wishing to procure our services can access our information and that of other registered suppliers securely in the FSQS dashboard to help manage due diligence in the contracting process.

The benefits for financial services organisations in partnering with us through FSQS include:

• EASIER REGULATORY REQUIREMENTS
• REDUCED PROCUREMENT TIMESCALES
• HIGH QUALITY VALIDATED INFORMATION
• COST AND RESOURCE EFFICIENCY

Registration on FSQS is currently by invitation from buyer to supplier only and must be renewed on an annual basis.