Infosys has signed on a multi-year IT contract with the US investment firm Vanguard. This contract will be in place and focus on delivering a technology driven approach to planning and administration. This is said to be reshaping the corporate retirement plan experience for the sponsors and participants.
This stated vendor consolidated deal is stacked over $700 million and the scope of the contract could grow overtime. There have been recorded to be about 1,300 Vanguard roles that would be supporting the service of record keeping client administration, operations and technology in Infosys.
Infosys has also stated that all of the transitioning employees will receive the same salary and similar comparable benefits for a 12 month period, alongwith meaningful incentive opportunities. These two companies plan to collaborate on providing a cloud based record keeping platform. This platform is known to be resourceful as it would be capable of providing greater insights and better delivery outcomes for five million participants and 1,500 sponsors.