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FIDI launches the FAIM 3.0 Quality Standard

Feb 08, 2013
FIDI has launched its new FIDI-FAIM Quality Standard (FAIM 3.0), an evolution of the previous FAIM 2.0 Standard and based on minimum requirements only.
However FIDI said that since quality should be a living platform, FAIM 3.0 is considered as a first step towards a future maturity model based on self-assessment and continuous improvement.

FAIM 3.0 is based upon a three-year, on-site audit cycle and contains a number of important changes from the previous Standard:

The desktop compliance procedure has been removed.

  • A mandatory pre-audit assessment has been introduced.
  • Companies holding a valid ISO 9001:2008 certificate have been recognised and are now able to have elements of FAIM audited through their ISO certification. On successfully passing the FAIM certification they will receive a FAIMplus certificate.
  • Minimum requirements for financial health (measured through financial ratios) are a pre-requisite for first time applicants only. The financial stability of existing Affiliates will be measured through Slow Payer parameters.

FIDI has recently sent its Affiliates new documentation to help in preparing for a successful audit.  This included the FAIM 3.0 Quality Standard itself; a FAIM certification matrix that acts as a guideline for future on-site audits and uses historical data to make sure that all FIDI Affiliates are treated equally in the transition to FAIM 3.0; an Implementation Manual including a mandatory pre-audit assessment and guidance on the whole audit process; and templates to help Affiliates who do not already have specific processes in place.

FIDI is in the process of contacting all Affiliates whose FAIM certification expires before June 2013 to advise on the compliance procedure.  Affiliates whose certification expires after June 2013 will be contacted in good time.

More information is available from the customer services team at fidi@fidi.org.


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