Accelerating Systems Modernization with AI

Modernization can be a springboard for growth – allowing organizations to improve efficiency and performance, provide an improved user experience for their customers, and leverage technology that is only compatible with modernized systems. 

CapTech understands the importance of a strong data foundation. We specialize in leveraging AI to accelerate and streamline the modernization process and beyond, ensuring that your systems are cost-effective and scalable for future growth and innovation.

Enabling Automation for a State Retirement System

A State Retirement System needed to modernize their aging retirement processing and payroll system. The current paper-based manual processes were difficult to keep up with the ever changing legislative and customer needs. The result was a modernized agency that supports automated processes and web-based transactions. The resulting gains in efficiency and customer service have included:   

• More than 117,000 members have accessed the customer facing portal to review or update account information  
• Nearly 8,000 members who have left state service have requested an account refund online, with 99.7% of refund requests processed within five days of receipt. Previously, the average turnaround was 10 business days  
• Members creating over 313,000 benefit estimates online and over 50,000 online retirement plans in the last fiscal year