In US government contexts, FIPS stands for Federal Information Processing Standards — a set of technical standards issued by the National Institute of Standards and Technology (NIST) for use by federal agencies. These standards cover areas like cryptography, data encoding, and security. The acronym is technical and institutional rather than slang.
The system had to be upgraded to meet the latest FIPS compliance requirements before the contract could be awarded.
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(government, USA): .
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Regional slang from around the English-speaking world — British, Australian, Irish, Caribbean, Nigerian, Filipino, AAVE, and the hyphenated-English dialects that make the internet sound local.
See all Regional & Other slang on Slangora.