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, 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 standardized 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 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.
“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 is pleased to be part of the FSQS launch,” said Pål Gjermstad, CPO, Sparebank 1. “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 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.
About Hellios
Hellios is a leading provider of supplier data management solutions, helping businesses streamline the collection and management of supplier information. Founded in 2012, Hellios has grown into a global community of buying organizations and suppliers, with a presence across the UK, Ireland, Netherlands, Denmark, Spain, and Australia. Serving the financial services, aerospace, and security industries, Hellios is committed to driving operational efficiency and reducing supply chain risks - because at Hellios, confidence is everything. For more information, visit hellios.com.
