Danish pension IT provider opens Dutch branch

The Danish pension IT provider, Festina Finance A/S, has opened up a Dutch brand, after first entering the market in 2020.

Festina Finance was founded in 2014 by Morten Schantz, with its core activity being the provision of applied software solutions for pensions, life insurance and banking services. In the Dutch market, the firm will launch the Festina Life & Pension platform, which will support the transition to the new pension system.

Commenting, Schantz, said: "The Pension Agreement is the biggest transition since the start of supplementary pension schemes in the Netherlands. For Festina Finance, this is the reason to strategically choose the Netherlands as the most important international expansion market. The pension transition affects the entire market and in almost all cases means a transition to a new pension administration system.”

“In the Dutch market with both closed book portfolios/traditional products, as well as the new solidarity and flexible DC products of the Pension Agreement, there is a need for a distinctive and proven agile, cloud-based IT solution, with good customer/participant communication and efficient implementation.

“In Denmark, an analogous pension transition has previously been implemented with products that are very similar to the new solidarity and flexible pension schemes. At PensionDanmark, Denmark's largest pension fund with over 800,000 members and 50+ pension plans, our solution has proven itself in practice with operational efficiency and unparalleled scalability, flexibility and speed."

Since its start in the Netherlands in November 2020, Festina Finance has been involved in various IT selection projects at Dutch pension administrators.

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