TIAA Wins CIO 100 Award for Innovation in Information Technology

NEW YORK, March 22, 2022 /PRNewswire/ -- Foundry's CIO has named TIAA a 2022 CIO 100 Awards winner. For more than 30 years, the CIO 100 Awards have recognized innovative organizations worldwide that exemplify the highest level of strategic and operational excellence in IT.

"We're proud of our commitment to delivering innovative solutions for our clients," said Sastry Durvasula, TIAA Chief Information & Client Services Officer. "This CIO 100 Award is a testament to the dedicated teams who work each day to enhance our capabilities and improve our client experience. I am honored to work with such an innovative team of technology and client service experts."

TIAA was recognized for its proprietary remittance modernization. TIAA's remittance platform provides comprehensive file routing and processing services for TIAA's marquee institutional clients, including many of the largest universities and medical centers in the United States. The modernization project rebuilt the previous production system, deployed in 2014, from the ground up on a modern technology stack.

The goal of the modernization effort was to reduce operational costs, increase functionality, scalability, and stability, as well as performance by a factor of more than 100x. At the same time, this effort enabled seamless integration with our core products and services.

"This year's CIO 100 class demonstrates grit, innovation and deep teamwork. Many projects are related to streamlining data flows and insights to drive the business, bringing innovations like the metaverse to life, and driving value during the pandemic in myriad ways," said Anne McCrory, Group VP, Customer Experience & Operations, Foundry, formerly IDG Communications, Inc. "We are honored to showcase these achievements and the people behind them as we gather in person once again for a team-based experience at the CIO 100 Symposium & Awards in California in August."

Executives from the winning companies will be recognized at the CIO 100 Symposium & Awards.

The annual CIO 100 Awards celebrate 100 organizations and the teams within them that are using IT in innovative ways to deliver business value, whether by creating competitive advantage, optimizing business processes, enabling growth or improving relationships with customers. The award is an acknowledged mark of enterprise excellence. Recipients are selected through a three-step process. First, companies fill out an online application form detailing an innovative IT and business initiative. Next, a team of external judges (many of them former CIOs) reviews the applications in depth, looking for leading-edge IT practices and measurable results. Finally, CIO editors review the judges' recommendations and select the final 100.

TIAA is a leading provider of secure retirements and outcome-focused investment solutions to millions of people and thousands of institutions.  It is the #1 not-for-profit retirement market provider¹, paid more than $3.6 billion to retired clients in 2020 and has nearly $1.4 trillion in assets under management (as of 12/31/2021)².

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1. As of Dec. 31, 2020. Based on data in PLANSPONSOR's 403(b) Market Survey, which published in August 2021.
2. As of December 31, 2021 assets under management across Nuveen Investments affiliates and TIAA investment management teams are $1,375 trillion.

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SOURCE TIAA