CORE Point Solutions help plan providers and sponsors improve productivity and efficiency of their operations by bringing simplicity to the complex world of record keeping. Our Point Solutions suite can be easily segmented into modules and deployed alongside your existing record-keeping systems, so as to address needs specific to your retirement plan administration processes.
Congruent offers state-of-the-art pre-built applications and innovative frameworks to the US retirement industry’s critical record keeping and administration needs.
The Retirement Industry in the US and several other parts of the world are at crossroads in a number of ways. There is, on the one hand, increasing competition and tightening regulations like fee disclosure that are putting immense pressure on the revenue yield per client for all the providers. On the other hand, operational costs are consistently on the way up because of increasing manpower needs and technology spends on legacy platforms. This is mainly due to work-arounds required to address increasing customer expectations and regulations. One overwhelming need that is felt throughout the industry now is to get things done more efficiently with increased productivity without compromising customer experience, or rather enhancing that factor, wherever possible.
These business drivers are compelling plan providers to reinvent and simplify processes and workflows. The major business drivers are technology demands to keep the costs low and deliver superior customer experience by improving the productivity/efficiency of internal operations. The race to handle thesepressures effectively requires a careful analysis of existing workflows and processes, as well as an evaluation of how technology is best used in the different scenarios of internal operations. Congruent, with its experience of more than 10 years in the retirement industry, has built point solutions to address both operational and strategic challenges in recordkeeping and transaction processing.