FISS was established as an unincorporated organisation in 2009 by Ben Briscoe and Pavel Raitsin as a way to improve Student Life at Victoria University (VU). After creating the society Ben and Pavel both expanded the society first by building a committee and then planning and running events. The most notable event in the FISS 2009 calendar that was run was the "25 Years of Teaching of Andrew Rogers" - an event which attracted over a hundred attendees; made up of both students and graduates.

FISS, headquartered at the City Flinders Campus, is a student society founded to serve VU students. It was created to have a particular focus on Economics and Finance Students.

FISS was formed to:

• Organise and run social events for its members
• Provide members with industry networking opportunities
• Encourage Personal Development
• Promote Industry Awareness
• Organise and run programs to supplement university studies

FISS' guiding philosophy is to improve students' prospects with employers once they graduate through providing social, informative and networking functions.

The primary modus operandi is to encourage networking and knowledge sharing to identify and promote a strong culture for VU Business students.