The complex and heavily regulated retirement services industry faces many challenges: shifts in customer expectations, commoditization of services, and fee compression.
As institutional customers seek targeted solutions to address their financial wellness objectives, many industry providers struggle to adapt given legacy infrastructures. Further, system redundancies and architectural siloes impede a clear path toward how to best support industry requirements, at a competitive cost and with scale.
This struggle to meet growth targets and invest in an enhanced customer experience is forcing firms to make bolder bets and execute with a great degree of precision.
TCS BFSI Platforms for Retirement Services enables digital transformations with a portfolio of services that offer growth potential and superior service to retirement providers.Key features include:
Variable-cost Digital Operating Model with outcomes-driven end-to-end digital service delivery focusing on customer experience
Three elements – Digital, Peripheral, and Core – work together to support the customer lifecycle and drive enterprise agility
The platform is powered by the TCS BaNCS™ core engine
It leverages a structured change management approach
Service Model Framework ™ – proprietary tool provides a taxonomy of required capabilities
It comprises contextualized digital channel capabilities, strong contact center and operations solutions, data and analytics engine, documents engine, enterprise applications, and pre-defined industry integrations
Strong omni-channel capabilities help retirement services businesses execute customer-centric models and targeted, profitable products
It focuses on continuous improvement and leverages TCS’ unmatched success in driving transformation to deliver simplicity and better customer outcomes
Industry Expertise – TCS has exhaustive domain experience in working with the top Institutional Retirement organizations, with associates who have run virtually all retirement services value chain functions.
Proven Methodology – TCS enjoys unmatched success in driving transformation and innovation for global enterprises across industries.
Scope and scale – TCS currently partners with 10 of the top US Banking, Financial Services and Insurance institutions, and offers retirement services across the globe, highlighting our ability to provide end-to-end engagements, from strategic consulting to servicing of retirement assets.