Valley Forge, Pa.-based Vanguard announced on Tuesday that it will partner with Infosys to digitize plan administration in its defined contribution business.

According to the announcement, Infosys, a provider of digital services and consulting, will assume day-to-day operations supporting Vanguard’s recordkeeping business, encompassing software, administration and associated processes. This will move approximately 1,300 recordkeeping client administration, operations and technology roles from Vanguard to Infosys.

“Infosys is excited to partner with Vanguard in the digital transformation of its defined contribution business,” said Mohit Joshi, president of Infosys, in released comments. “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.”

Under the arrangement, Vanguard and Infosys will provide a cloud-based recordkeeping platform, which they claim will enable more personalization and greater insights that may lead to better outcomes for participants and sponsors.

Vanguard relationship management, strategic plan design and communication teams will continue to serve plan sponsors. Vanguard will also continue to oversee investment management and guidance for sponsors and participants, including development of its personal advice services.

Plan participant phone calls will be serviced by both Vanguard and Infosys.

Planned enhancements for plan sponsors include AI-enabled analytics, improved visibility of participant behavior, and “ubiquitous” operational support.

In the future, enhancements for participants will include a redesigned website, integrated advice and intuitive technologies.

Vanguard employees whose roles were moved to Infosys will be offered comparable positions at Infosys in proximity to Vanguard’s offices in Malvern, Pa., Charlotte, N.C., and Scottsdale, Ariz. Among these is Martha King, who currently serves as head of Vanguard Institutional Investor Group, who will transition to Infosys to act as chief client officer and to head the firm’s Mid-Atlantic Retirement Services Center of Excellence.

“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,” said King in comments released on Tuesday. “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.”

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