VITECH SYSTEMS GROUP AND INTERNATIONAL UNION OF PAINTERS AND ALLIED TRADES INDUSTRY PENSION FUND ELEVATE PARTNERSHIP WITH V3LOCITY: A PIONEERING ADVANCE IN CLOUD-NATIVE PENSION ADMINISTRATION

Leading Pension Fund Chooses Vitech's Cutting-Edge Platform to Propel Digital Transformation

NEW YORK, Dec. 20, 2023 /PRNewswire/ -- In a significant stride towards advancing digital innovation in pension administration, Vitech Systems Group proudly announces the International Union of Painters and Allied Trades (IUPAT) Industry Pension Fund's strategic decision to adopt V3locity, Vitech's state-of-the-art cloud-native administration, engagement, and analytics platform.

Building on a steadfast collaboration spanning nearly 15 years, IUPAT's continued trust in Vitech's solutions underscores the organizations' shared commitment to revolutionize pension administration. With the adoption of V3locity, the Fund not only ensures continuity in delivering superior administration services but also fortifies security and performance through the platform's scalability and reliability, hosted on the robust AWS infrastructure. Additionally, IUPAT will gain access to V3locity's vast API library, enabling seamless integration with the union system and facilitating real-time exchange of information. This will streamline several benefits processing tasks including obtaining member demographic information, managing member participation in contracts, and promptly updating contract rates.

IUPAT's transition to V3locity represents a forward-looking approach, leveraging the platform's continuous upgrades to future-proof their operations. This strategic move promises a seamless and enhanced experience for plan participants, as V3locity introduces cutting-edge features and innovations tailored for modernized service.

Beyond elevating operational efficiency, IUPAT's migration to V3locity will revolutionize its IT landscape, ensuring business continuity with heightened service delivery standards. The platform's advanced digital self-service capabilities and productivity enhancements will not only streamline internal processes but also elevate member and employer experiences.

Dan Williams, IUPAT Pension Fund Administrator, emphasized the significance of this pivotal move, stating, "This marks a crucial step in our modernization plan. Embracing the future with Vitech signifies our commitment to enhancing our administration platform for more efficient operations and superior service."

David Burns, CEO, Vitech, expressed enthusiasm about the strengthened collaboration, saying, "Vitech is thrilled to strengthen our collaboration with IUPAT, delivering a more robust and resilient solution that empowers IUPAT and its plan participants. V3locity equips IUPAT to navigate evolving opportunities and challenges in benefits administration, benefiting both the Fund and its plan participants."

As Vitech and IUPAT embark on this transformative journey together, the collaboration promises not only to elevate pension administration standards but also to set new benchmarks in the industry for innovative, secure, and future-ready solutions.

About V3locity^®
V3locity, Vitech's cloud-native administration, engagement, and analytics platform, is a transformative suite of complementary applications that offers full life cycle business functionality and robust enterprise capabilities. It marries core administration with superior digital experience and augmented analytics. Its modular design enables flexible, agile deployment strategies. V3locity employs an advanced, cloud-native architecture that leverages the unique capabilities of AWS to deliver a solution with unparalleled security, scalability, and resiliency.

About Vitech
Vitech is a global provider of cloud-native benefit and investment administration software. We help our clients expand their offerings and capabilities, streamline their operations, gain analytical insights, and transform their engagement models. Vitech employs over 1,400 professionals, serving the world's most successful insurance, retirement, and investment organizations. An innovator and visionary, Vitech's market leadership has been recognized by industry experts, including Gartner, Celent, Aite-Novarica, and ISG. For more information, please visit vitechinc.com.

About IUPAT
Represents a growing community of over 140,000 active and retired craftspeople in the United States and Canada. The IUPAT membership extends far beyond the workplace. Recognized as one of the most active unions in the labor movement, IUPAT members help shape their communities in many ways: through an abiding commitment to service, by fighting passionately for workers' rights that benefit all working families, and through effective worker education and mobilization.

SOURCE Vitech Systems Group