Gabler enters into agreement with European regulatory technology company SecondFloor
February 22, 2019
SecondFloor is pleased to announce a new partnership between Norwegian pension consultancy Gabler AS and the Dutch regulatory technology company SecondFloor. SecondFloor delivers software solutions for Risk & Regulatory reporting in the highly regulated financial sector within Europe. Gabler AS is an independent pension scheme administrator and consultant for pension schemes and insurers.
The two companies together can offer Norwegian pension schemes a cost-effective solution for the implementation of the new European directive IORP II.
The countries of European Union and the EEA (Norway) has set in place the IORP II Directive to facilitate the development of occupational retirement savings and to provide sustainable and adequate occupational pensions to the European citizens.
The IORP II Directive sets common standards ensuring the soundness of occupational pensions and better protects pension scheme members and beneficiaries, by means of among others:
- New governance requirements,
- New rules on IORPs’ own risk assessment,
- New requirements to use a depositary, and
- Enhanced powers for supervisors.
Aksel Bjerkvik (Gabler): “Today’s signing of an exclusive agreement with SecondFloor on the provision of IORP II reporting in the Norwegian market, extends Gabler’s existing agreement with SecondFloor. This was an important milestone for us to put in place as part of preparing our clients for the forthcoming implementation of the IORP II directive in the Norwegian market. SecondFloor are already proven to us in Gabler to be a robust provider of reporting services, that coupled with their European reach and expertise helps to keep Gabler at the forefront of providing services to Norwegian pensions schemes. In practice, this cooperation with SecondFloor will mean that all pension funds in Norway, both those with an existing relationship to Gabler and those that do not have a relationship at present, will have the possibility to access Europe’s leading solutions within regulatory reporting in cost effective, streamlined and effective manner.”
Bart Oortwijn (SecondFloor): “For SecondFloor, today’s signing of the agreement with Gabler is an important evolution of our excellent cooperation. We are pleased to announce our partnership with Gabler for IORP II, which creates a strong offering for the implementation of IORP II Directive in the Norwegian market. Gabler’s expertise in providing services to Norwegian pensions schemes is a perfect complement to our software-as-a-service for IORP II. The partnership with Gabler fits within our strategy focus in the Nordics and keeps us at the forefront in the market.”