Breaking siloes has become a top priority for IT and business peers seeking a quicker path to transformation. Perhaps no company embodies this approach more than asset manager TIAA, which has pioneered a new operating model for producing software using agile, DevOps and microservices.
The initiative, called Refactor, has produced a big bump in the time it takes TIAA to onboard its clients, as well as a major reduction in costs. That’s a big win for a large organization that manages nearly $1 trillion worth of retirement funds for 15,000 plan sponsor clients, which serve 5 million customers.
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