Vanguard partners with Infosys for digital transformation
Infosys will assume day-to-day operations supporting Vanguard’s DC record-keeping business, including software platforms, administration, and associated processes.
Pennsylvania based investment management company Vanguard partnered with IT major Infosys to digitally transform the company’s operations.
Vanguard said this strategic partnership would deliver a technology-driven approach to plan administration and fundamentally reshape the corporate retirement plan experience for its sponsors and participants.
Infosys will reportedly assume day-to-day operations supporting Vanguard’s DC record-keeping business, including software platforms, administration, and associated processes. Approximately 1,300 Vanguard roles currently supporting the full-service record-keeping client administration, operations, and technology functions will transition to Infosys.
Additionally, Vanguard will oversee all aspects of its investment management and guidance for both sponsors and participants, including the ongoing development of its accessible, holistic, and personal advice services. Participant phone calls will be serviced by both Vanguard and Infosys.
Martha King, Managing Director, Vanguard Institutional Investor Group, said: “Our partnership with Infosys will embolden these efforts, enabling a ground-breaking approach to plan administration.”