Deloitte works with Vanguard to rebuild its tech stack for the next era of innov [0:00-3:57]

With modernization programs or transformations like these, as many of you know, they're multiple years, they're complex, you have hard days and you have harder days. And from the get-go, the Vanguard and Deloitte team together, we knew we didn't have all the answers. We knew there was going to be a lot to figure out. The media narrative was too frequently referring to our outdated experience and it was becoming clear that we would not be able to fill our promise to our clients without getting unshackled from the inflexible legacy infrastructure. So when Vanguard reached out to us in spring of 2021, they were considering embarking on this program, which is for the brokerage of this size has never been done before. Most people thought this wasn't achievable, but modernizing or getting off of the main frame was too big of a challenge, it would never be done. We're tackling 30 to 40 years of legacy technology here in Beard to come together between our Vanguard crew members and our Deloitte teams to break down that problem in the smaller pieces and make steady progress against it over the past several years has been an incredible achievement. So part of this modernization has also been really a rethink, a redesign, a complete transformation of the digital experience really at the top of the technology stack. This is where our clients are interacting with us well over two to three million times a day across our mobile app and our web experiences. Another really interesting impact of modernization is when you pair modernization in this flexible API infrastructure that we've rolled out and now you put AI on top of that. Now we're helping our application engineers not only get to market faster, but we're helping them with AI to take these manual steps out of the equation where they're manually coding, taking hours maybe up front in the process and we're seeing it gets it down to minutes. That's an amazing and powerful combination. What was refreshing was the teamwork. On a regular basis we'd have early morning start of the day deep dives. There were a lot of visions, there were a lot of hypotheses, but there was a lot of just roll up your sleeves, figure it out as we go. One of the financial metrics we are really proud of is during the modernization because we've made smart choices on technology and where we deliver what capability. The infrastructure TCO for this business has gone down by almost 30% from 2022 to 2025 and it continues to go on a downward trajectory, something we are really proud of. And that's really important because that gets down into the foundation of this modernization. I'd like to say we've liberated our data. Our data used to be really stored in a highly complex mainframe database system. One of the moments of pride on the program was when we were recognized within industry award for a broker technology platform. This was followed up by also presenting at AWS re-invent where we came garnered a kind of interest in just understanding what we've accomplished. Now we're proud to say as we're still finishing up the transformation, we're routinely seeing satisfaction scores well over 4.4 and higher across both our web experience and our mobile experience as well. So we're not done. We think best in class or world class is over 4.5 on your mobile app, on your web experience and your contact center experience. Traditionally, you would say, hey, the faster you go, the poorer quality is. In this program, what we found is we've increased speed at the same time raising quality. So that previously wasn't really thought possible and we're proving it is day in and day out.