About the Customer

As a leading global financial services organization provides investment management, retirement planning, workplace benefits, and wealth management solutions, the firm onboards thousands of workplace plan sponsors each year and manages large volumes of retirement plan data from employers and external record keepers.

Challenge

Workplace plan onboarding was highly manual, time-intensive, and dependent on IT-led processes. The organization relied on legacy, SAS-based workflows to manage plan data arriving from multiple external record keepers in text, positional, and unstructured formats.

As a result:

• Client onboarding required up to 7 man-months per customer
• Multi-format data from external partners was difficult to ingest and govern
• High risk of errors led to delayed asset onboarding and lost revenue
• Siloed departmental solutions limited scalability and enterprise-wide governance

Solution

The organization implemented an enterprise Data Exchange Platform (DEX) powered by Intelligent Data Automation™ to modernize and scale workplace plan onboarding.

The platform:

• Ingests workplace plan data (HOLB, balances, mixes, vesting, loans) from employers and external record keepers in text, positional, and unstructured formats via secure SFTP and cloud channels
• Translates, validates, standardizes, and enriches participant and plan data using business-defined rules, approvals, and controlled reprocessing
• Delivers governed data directly into core record-keeping systems
• Automates downstream distribution of data to employer HRIS platforms and dependent systems during plan switchovers

This approach shifted onboarding ownership from IT to business teams while ensuring scale, compliance, and auditability.

Impact & Results

The Data Exchange Platform delivered significant operational and financial impact:

• Over 80% reduction in onboarding time
• Business users onboard new clients with no IT involvement
• Faster asset onboarding generates approximately $200K in incremental revenue per $100M in assets per month
• In 2024 alone:
  • 1,700+ new workplace plans onboarded
  • 1.1M participants supported
  • An estimated $340M in incremental revenue enabled by faster onboarding
• 200+ active data feeds, with 1,000 additional feeds planned
• Multiple use cases running on the platform, including workplace plan onboarding and retirement benefits enrollment

Ready to Modernize Retirement Benefits Enrollment?

Discover how Adeptia Automate helps financial services organizations standardize First-Mile Data™, accelerate onboarding, and unlock faster time to value.