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Pacific Life (Newport Beach, Calif.) has selected V3locity, Vitech Systems Group’s (New York) administration, engagement, and analytics platform, to administer its growing institutional investment business.
Pacific Life will use V3locity for its deal acceptance, policy administration, payments, and enterprise capabilities, to manage its pension risk-transfer (PRT), and stable value businesses, according to a Vitech statement. Together, these businesses constitute a major portion of Pacific Life’s institutional investment business. Pacific Life will also leverage V3locity Digital, Vitech’s persona-based, digital self-service solution, to deliver a seamless and intuitive digital experience, according to the vendor.
Pacific Life selected Vitech to help scale its business, provide improved reporting and analytics, enable advanced functionality for new products, and consolidate key business units onto one unified system, the vendor reports.
“V3locity will be instrumental in helping us facilitate a successful transformation and provide a strong foundation as our business rapidly expands,” comments Paul Hance, VP and managing director of Pacific Life’s Institutional Customer Solutions Group. “We are proud to partner with Vitech to help us capture additional opportunities and growth in our target markets.”
“We are delighted to play such a significant role in helping Pacific Life further advance its institutional investment technology capabilities,” comments Gary Sherne, chief revenue officer, Vitech. “We look forward to working with Pacific Life to provide a competitive edge in the evolving institutional investment landscape, while advancing our rapid expansion into the PRT market.”
Vitech describews V3locity as a transformative suite of complementary applications that offers full life cycle business functionality and robust enterprise capabilities. The solution marries core administration with a revolutionary digital experience, while its modular design enables flexible, agile deployment strategies, according to the vendor. V3locity uses an advanced, cloud-native architecture that leverages the unique capabilities of AWS to deliver a solution with unparalleled security, scalability, and resiliency, Vitech says.