Applying Thought   
About Wipro
Newsroom
Investors
Careers
  
   
Wipro Technologies Consulting IT Services Product Design Business Process Outsourcing CONTACT US
 
Case Studies
Ideas
 
Search
Finance Home
Banking
Consulting
Securities & Capital Markets
Investment Management
Diversified Financial Services
Insurance
 
Global Sourcing Lounge
 
 
 
 
Finance
Financial Services Software Solutions
 
Developing a 529 plan for a leading global money management firm
 
 
Client
A global money management firm with over 50 years of investment experience and $250+ billion in assets under management
 
Challenge

The client wanted to launch their 529 plan for their current defined contribution participants as well as new customers. To gain the first mover advantage resulting from enactment of Economic Growth and Tax Relief Reconciliation Act (EGTRRA), the client had to undertake the redevelopment of current systems to process and support the new plan requirements

 
Solution
Wipro conceptualized and delivered all the phases in the development life cycle including:
Business Analysis: Understanding of regulatory requirements, preparation of functional and technical requirements specification
Coding and Development:
 
Development of core new functionality to process 529 plans
Participation in development/modification of all/several communication items to provide state specific 529 plan look and feel
Development/modification to several control data feeds/reports for managing the 529 funds/plans for control department
On going Support: Being provided by Wipro as a part of the overall support that Wipro currently provides for the clients transfer agency systems
 
Benefits
The client gathered in the region of $2 BN in assets under the 529 plan in the year 2001
Additionally the 529 plan enabled the client to position itself as an end to end provider of retirement plans
The introduction of the 529 plan has provided the client with significant cross-selling opportunities in the immediate to short term and positioned it to benefit significantly in the medium to long term
 
  Send us an email
Request proposal for services
Subscribe to our monthly newsletter
  CASE STUDIES
Developing web-based content management solution
Cash management billing
  More case studies
  CUSTOMER SPEAK
" We see Wipro as a key strategic partner for the delivery of our e-Business transformation vision, in terms of providing the expertise, commitment to quality and the skilled resources that will allow us to deliver these solutions in the time frame that we need."
Head of IT Strategy,
Thomas Cook- Global & Financial Services
  More testimonials
  WEBINARS  
Offshoring BPO - A framework for getting started
Web Services: Business imperatives and benefits
  More webinar

 
Contact us Terms of use Privacy Sitemap