Introducing FSQS-NORD

Danske Bank and Sparebank 1 Utvikling Support New Supply Chain System to Simplify Due Diligence in the Nordic Financial Sector

Nordic financial services providers are set to benefit from a new supply chain system designed to reduce administrative burdens and streamline compliance processes. Hellios Information, in collaboration with Danske Bank and Sparebank 1 Utvikling, is excited to announce the launch of FSQS in the Nordic region.

FSQS, which has already been successfully implemented in the UK, Netherlands, and Spain, will now be introduced to the Nordic region. The platform has proven effective in these regions, where over 75 financial service providers and more than 6,000 suppliers have benefited from its efficient approach to supplier management. The Nordic rollout will create a new community specifically tailored to the region’s financial institutions and suppliers. 

“Nordic financial institutions now have the opportunity to leverage the same benefits provided by a standardised and simplified approach that has already proven successful elsewhere,” said Colin Maund, CEO of Hellios. “FSQS streamlines the process, enhances efficiency, and reduces administrative costs for both suppliers and buyers.” 

The FSQS platform offers a ‘one-to-many’ solution, allowing suppliers to complete a single FSQS questionnaire that is then accessible to all participating financial institutions. This significantly reduces paperwork and simplifies the due diligence process. 

As founding members, Danske Bank and Sparebank 1 Utvikling are leading the introduction of FSQS in the Nordic financial sector. They are enthusiastic about the platform’s potential to enhance compliance processes and operational efficiency.

Phillip Maund, Regional Director Northern Europe at Hellios

“FSQS represents an important advancement in our compliance and supplier management processes,” said Taid Qazi, CPO, Danske Bank. “We are excited about the efficiencies it will bring to our operations and the broader financial community.” 

“Sparebank 1 Utvikling is pleased to be part of the FSQS launch,” said Pål Gjermstad, CPO, Sparebank 1 Utvikling. “We believe this platform will greatly enhance our ability to manage supplier information effectively and reduce administrative burdens.” 

The FSQS system in the Nordics will be managed and supported by Hellios, with a dedicated team based in the region. The official launch is scheduled for the 29th January 2025.

"Launching FSQS in the Nordic region marks a significant milestone in our mission to simplify and enhance supplier management across the financial services sector. We are thrilled to bring this proven system to new markets and look forward to its positive impact on both financial institutions and suppliers alike," said Phillip Maund, Regional Director Northern Europe, Hellios.