FSQS Accreditation Success

Original Date Published: 03 July 2020

In early 2020, The Tracing Group team successfully completed the stringent approval process to join the Financial Services Qualification System (FSQS). “We were invited to apply for the programme by a leading UK Building Society, who would like to use our services to help them to identify customers that are deceased, and then trace their legal heirs and beneficiaries so that they can reunite them with their accounts,” explains The Tracing Group’s Managing Director, Danielle Higgins. “It quickly became apparent that joining the FSQS scheme would be an excellent opportunity to grow and improve our business - the accreditation process was quite extensive and gave us the opportunity to inwardly reflect on our processes and determine if everything was robust.”

The Tracing Group employs a team of researchers and people tracers who specialise in locating and verifying missing customers, or heirs of deceased customers, quickly and accurately. “Our services are in particular demand in the financial services sector, where companies have regulatory obligations to find the rightful heirs of unclaimed assets,” explains Danielle, who  worked in the industry for more than 10 years before establishing The Tracing Group in 2017.

FSQS is a community of financial institutions including banks and building societies, collaborating to agree a single standard for collecting the increasing amount and complexity of third party data needed to demonstrate compliance to regulators, internal policies and governance controls. The scheme is used by a wide range of leading banks and financial services companies including Virgin Money, Lloyds Banking Group and Santander.

For further information about The Tracing Group, call 01603 937800.