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Vanguard selects Infosys for Digital Transformation of service defined contribution (DC) Recordkeeping Business

Vanguard selects Infosys for Digital Transformation of service defined contribution (DC) Recordkeeping Business

Infosys

Infosys has now signed a multi-year collaboration deal with the Vanguard to digitally transform full service defined contribution (DC) recordkeeping business.

With the help of Infosys, Vanguard also offers a cloud-based recordkeeping platform. Apart from that, Vanguard will transfer 1300 employees from its IT divisions to Infosys, noted announcement.

The Managing Director of Vanguard Institutional Investor Group, Martha King, will also move to the Infosys. Ms. King will head the firm's Mid Atlantic Retirement Services Center of Excellence and serve as a Bangalore based firm's chief client officer.

Executive Opinion

Martha King, managing director of Vanguard Institutional Investor Group, said, "For decades, Vanguard has propelled best practices and innovation within our DC business and across the industry to steward the financial futures of millions of Americans saving for retirement. Our partnership with Infosys will embolden these efforts, enabling a groundbreaking approach to plan administration. Coupled with Vanguard’s increasing investment in advice capabilities and client experience, we will set a new bar for personalization, ease, and efficiency for sponsors and participants alike."

Mohit Joshi, president of Infosys, said, "Infosys is excited to partner with Vanguard in the digital transformation of its defined contribution business. Our platform will create a new standard for the industry as we seek to drastically improve the retirement savings experience for plan participants and sponsors through the use of cutting-edge digital technologies."

Infosys and Vanguard Partnership

Infosys will take over the day to day operations supporting the Vanguard DC recordkeeping business, which includes administration, software platforms, and associated processes.

The partnership will also enhance and evolve Vanguard's full-service DC business to deliver a technology-driven approach to plan administration and reshape the corporate retirement plan experience for its employers or sponsors and participants or employees.

Vanguard is also set to accelerate the development of a redesigned participant website, integrated advice, and intuitive technologies, for better participant experience.

In the month of May, GlobalFoundries partnered with Infosys for its Digital Transformation.

PC: Pablo, Unsplash

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Udit Agarwal Opinions expressed by techsutram contributors are their own. More details

Udit Agarwal is a Digital Marketer and a Content Marketing Specialist, He enjoys technical as well as non-technical writing. His passion and urge for gaining new insights on gadgets, smartphones and technology has led him to Techsutram. He quenches his thirst for technology through his action oriented writing skills and a profound ability to stay up to date with latest industry trends.

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