A partnership designed to increase Solvency II adherence and understanding has been launched by FundsLibrary and FactSet.
FundsLibary, a fund data solutions provider, and FactSet, a provider of integrated financial information and analytical applications, have combined to offer a comprehensive Solvency II Pillar 3 reporting solution. The aim, says the partnership, is to provide a guiding light amidst industry-wide challenges regarding Solvency II regulations.
Over 12 asset managers have already signed up to the new service.
Head of Business Development at FundsLibrary Steve Elford said: “The arrival of the Solvency II Directive has presented new and uncharted challenges to our industry. Together with FactSet we are offering a complete solution to the market – one that ticks the regulatory boxes and at the same time eases the pressure on our customers.”
FactSet’s Director of Global Regulatory Solutions Anastasia Dokuchaeva said: “Solvency II presents buy-side investment professionals with significant data governance and reporting challenges. This pioneering partnership, which leverages FactSet’s comprehensive and integrated financial data and FundsLibrary’s data exchange expertise, offers an industry leading solution to address the Solvency II directive.”