About Altaf Darzi

Altaf Darzi is a product manager in Congruent Solutions, where he is managing the CORE suite of Retirement and Pension technology solutions. He has been active in the global technology markets since 2004 in areas such as business consulting, product management, strategic marketing, project management and business development. He specializes in strategies and technologies in the global pensions and retirement markets for record keeping and plan administration, auto-enrolment, payroll processing, digitalization, business process management, and analytics. Altaf Darzi earned an MBA degree in Marketing and Strategy & Leadership from Great Lakes Institute of Management and a bachelor’s degree in Electrical and Electronics Engineering from Kuvempu Univeristy. His key areas of concentration included competitive marketing strategy, customer focused product management, technology & operations management and business analytics.

Automatic Plan Features, Planning Tools, Mobile Apps – What’s Next for the US Retirement Industry?

Auto features like auto enrollment, auto deferral increase (ADI) have put millennials on path to retirement readiness# is a recent claim by the PLANSPONSOR® magazine. When we compare participation rates, saving rates, equity allocation percentages from a voluntary enrollment plan to those of an automatic enrollment plan, they are looking promising. In the PLANSPONSOR® study, [...]

IT projects in the US Retirement industry – Challenges with Budgets, Timeline and Resources

  One retirement plan provider that Congruent recently talked to mentioned that one of their internal implementation was 18 months late and three times more expensive than the original expected cost. Another plan provider has to scrap their project after 8 months for budget overrun reasons. These stories are common in most of the plan [...]

Legacy Systems are the “White Elephants” for Retirement Service Industries

The Retirement Services Industry traditionally has been a slow adopter of information technology solutions. While the transition from VISIO Calc to next generation systems was gradual, the retirement industry has been stuck there for long time with those yester year proprietary and legacy systems which indeed are like white elephants from a continued maintenance expense [...]

3 Most Important Technology Considerations for Modern Retirement Plan Recordkeeping Systems

It is a matter of fact that the typical plan provider organizations must provide enterprise services to an ecosystem of many stake holders: plan administrators, sponsors, advisors, participants, TPAs, and other service providers. Because of the varying needs of the stakeholders, most plan provider organizations find themselves forced to manage a complex heterogeneous environment comprised [...]

Consolidate or Replace : IT Application labyrinths in the Retirement Plan Administration Organizations

Plan provider organizations which complain about the cost of IT maintenance often fail to realize that the root cause for the humongous IT expenditures are the labyrinths of IT applications, they have coddled over years. Plan providers have built those software applications and even bought a few software packages from different suppliers one at a [...]

Retirement Plan Information: Paper versus Electronic communication Dilemma in the retirement plan record keeping process

While legislative and regulatory policies are allowing the plan providers to have the electronic delivery of communication in the retirement plan record keeping as their default channels, the story is different from plan participants’ standpoint. Plan participants want the paper communication as the default channel in the retirement plan record keeping, with an option to [...]

Big Data: Time for the data to drive the opportunities inthe Retirement Industry

In 2012, with the onset of new transparency requirements, Timoty Slavin of Broadridge prophesied that a clear insight into the fees related to plan and fund administration, brokerage windows, commissions, sales charges, etc., will be available for plan sponsors and participants. However that insight is correlated to the factor that how well the complex data [...]

Pension Auto-enrollment Employee Assessment – Getting it right!

Auto-enrolment pension reform made it mandatory for every UK employer to enroll workers automatically into a qualifying pension scheme – starting in October 2012. Auto-enrolment brings a new set of duties and obligations, as well as major operational, financial, compliance and reputational risks to all employers – including the challenge of managing huge inflow of [...]