Tech Mahindra's Retirement & Wealth platform
The pensions and retirement landscape is in a state of flux characterised by ongoing evolution and reform. There has been a distinct shift globally from defined benefit to a defined contribution model which transfers the responsibility of retirement readiness to the individual. Retirement readiness is of significant concern in today’s ecosystem. Financial literacy, flexibility in financial product design and availability of timely information are vital in making informed financial decisions and improving retirement readiness.
Pension systems and service providers need to transform to address -
- Consumer demand for lower fees, visibility and choice.
- Business demand to offer flexibility in product design, speed to market and simplification.
Customer or client management is a major challenge, which today’s financial services firms are progressively trying to address. Managing the customer expectations from the time of on-boarding is a key differentiator for these organizations to achieve customer loyalty as well as customer profitability.
Faster product development and speed-to-market are critical to achieve the competitive advantage in business. An integrated end-to-end solution, which is capable of delivering innovative client service solutions along with cost savings is critical to achieve the above.
To provide value to financial services organizations undergoing transformation, Tech Mahindra provides a Retirement and Wealth platform solution aided by a unique combination of a highly configurable Core Registry along with a customized Digital Experience and Business Service component.
- Cater to an individual’s investment needs across the client lifecycle via a single platform service
- A end to end retirement offering, supporting legacy, defined benefits, defined contribution, pensions and investment products
- Web and mobile enabled with straight through processing capabilities
- Self service BI & Analytics capabilities enabling business users to be able to generate visualisations
- One stop solution to meet platform and administration service needs
Flexibility & Ease of Adoption
- Ease of configurability allows new products to launched in matter of weeks than months
- Modular in design and agnostic of the businesses supporting capabilities and systems, allowing the Platform to easily integrate to the customer’s existing enterprise eco-system.
- End to End implementation framework that allows faster on-boarding of client’s business to the platform.
- Ability to build / implement custom components around core registry based on client needs
What this means to you?
Highly configurable ‘Core Registry’ with a customized ‘Digital Experience’ and Business Services’
- Improved member experience in terms of predictable service, improved service levels
- Ability to launch new products quickly
- Utility pricing based on number of accounts
- 30% to 40% of TCO reduction
- Scalable platform and operations
- Ongoing Focus on Digitization and Service Innovation