The Journey From Consolidation to Modernization
Empowering a Long-term Retirement Client
A premier U.S. insurance provider and long-time FIS® client was on a highly customized, 10+ year old release of our retirement recordkeeping platform. They were also operating three independent recordkeeping platforms that were the result of acquisitions and siloed IT strategies. The multiple systems were costly and cumbersome to maintain and upgrade, preventing scale and extending the time to market for new enhancements and features.
The client engaged FIS to sunset their 10+ year-old platform while simultaneously migrating to a hosted model and taking full ownership of their back-end recordkeeping infrastructure support. By converting to the latest release with modernized capabilities, the client can focus their attention and resources on their digital engagement strategy, and their new investor and plan sponsor portals.
At a Glance
OBJECTIVEConsolidate multiple costly platforms to a hosted, modernized solution, enabling focus on the digital experience
RESULTSThe client set out to increase their operational efficiencies, reduce their costs, and focus on executing their digital strategy and user experiences. FIS® was able to help significantly reduce future upgrade and maintenance costs by consolidating multiple platforms and taking over full support of their infrastructure, streamlining their operations while allowing them to leverage a modernized platform.
Working with FIS®, the client was enabled to maintain control of brand and digital experience while simultaneously outsourcing recordkeeping hosting, upgrade, security and disaster recovery costs. The client eliminated costly duplicative platform maintenance by moving to a hosted solution. By migrating to latest release, the client was able to retire large quantities of custom code without loss of functionality.
reduction in upgrade costs
custom COBOL programs retired
lines of code eliminated