Financial institutions launch third-party assurance community across North America

The Financial Services Qualification System for North America (FSQS-NA), delivered by Hellios, brings financial institutions and third parties together through a shared community model, designed to standardise third-party assurance processes, improve third-party risk visibility and provide high-quality validated third-party data at scale.

Hellios

August 19, 2026 | 2 min read

Financial institutions launch a third-party assurance community to strengthen risk management across North America

Major financial institutions including Hiscox, Intact Financial Corporation, Lloyds Banking Group and TD Bank Group have partnered with Hellios to launch a new third-party assurance community in North America, building on a model already used by more than 150 financial institutions across Europe and Asia Pacific.

The existing FSQS community includes institutions such as Bank of England, Deutsche Bank, Fidelity, HSBC, Legal & General and Standard Chartered, and has helped improve data quality, reduce administrative effort by up to 75%, and accelerate onboarding for more than 7,000 third parties.

FSQS-NA extends this proven buyer led model to North America. Buyers define the assurance questions that matter to their risk and regulatory needs, third parties submit their information once, and Hellios validates, maintains and monitors the data so it can be securely reused by participating institutions.

For buyers, this creates access to consistent, validated primary third-party data that supports stronger oversight, clearer visibility across third-party tiers, faster onboarding, and better connectivity across Security, Risk and Procurement teams.

For third parties, the model reduces the workload of responding to multiple, repetitive compliance, and control assessment requests from various financial institutions. Once information is uploaded and validated, it can be reused across participating financial institutions, saving time and effort while improving the third-party experience.

As third-party ecosystems grow and regulatory expectations become more complex, FSQS-NA helps institutions demonstrate responsible third-party oversight, manage third-party risk more effectively, and protect customers through a more efficient, community-based approach.

Industry response:

Hélène Castonguay, Director, Procurement – Risk Management & Transformation, Intact Financial Corporation, one of the founding members of the FSQS-NA community, commented:

By standardizing vendor information in one trusted data model, we reduce duplicate requests, accelerate onboarding, and strengthen risk management - delivering a more efficient and consistent experience for vendors and our global internal teams.

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Ross Houghton, Chief Financial & Operating Officer - North America, Lloyds Banking Group, said:

FSQS-NA helps reduce vendor duplication and administrative burden, supporting a greater focus on managing risk.

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Karl Poulsen, Chief Procurement Officer, Hiscox, said:

With the FSQS system set up to meet our priorities, we are able to take a broader, more holistic view of supplier risk and the team can focus on critical issues, with a lot of the manual, routine legwork being taken care of by the platform.

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Quality connected data has never been more significant, according to Colin Maund, CEO, Hellios Information.

Financial institutions don’t need another platform. They need quality data direct from vendors. By aligning around a shared model, FSQS-NA removes duplication and allows validated vendor information to flow directly into the systems already in use.

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FSQS-NA will be supported by Hellios’ North America based team and will go live in late August 2026.

About Hellios:

Hellios is a leading provider of vendor data management solutions, helping businesses streamline the collection and management of vendor information. Founded in 2012, Hellios has grown into a global community of buying organisations and vendors, with a presence across the Europe, Asia Pacific and North America. Serving the energy, financial services, defence, aerospace, and security industries, Hellios is committed to driving operational efficiency and reducing vendor risks - because at Hellios, confidence is everything.

Hellios

August 19, 2026 | 2 min read