The Pension Fund Regulatory and Development Authority (PFRDA) has announced its Technology Vision through the TARCH project. This initiative aims to revolutionize the pension ecosystem in India by leveraging advanced technology solutions. In this press release, we will explore the target state architecture, scope of work, key highlights, and the various technology modules involved in the TARCH project.
Analysis: PFRDA acknowledges the significance of adopting modern technology to enhance its services, promote innovation, and cater to the evolving needs of stakeholders. The Technology Architecture project encompasses four key modules: Website Revamp and Chat-bot, PFRDA Online Intermediary Supervision Engine (POISE), PFRDA Repository & Information Systems Management: Data and Analytics Platform (PRISM), and PFRDA Intranet (PINTRA) for internal digitization.
The scope of work under TARCH involves selecting a System Integrator (SI) through an open tendering process. The SI will be responsible for studying existing processes, proposing improved solutions, and providing design, development, customization, implementation, and maintenance services for the mentioned modules. Seamless integration between the modules is essential, and the SI will collaborate closely with PFRDA to ensure the acceptance of reengineered business processes.
The key highlights of TARCH include the development and implementation of suitable solutions by the SI, compliance with security requirements, support for auto alerts and reminders, digital signature integration, multilevel authentication, and more. Agile methodology will be employed for development, minimizing dependency on system settings.
Each technology module of TARCH has specific objectives and functionalities. Website Revamp and Chat-bot focus on redesigning the PFRDA website, launching surveys, and incorporating a user-friendly chatbot. POISE aims to digitize supervisory and regulatory compliance activities for intermediaries, while PRISM develops a comprehensive data platform for analysis. PINTRA focuses on enhancing PFRDA’s internal activities through HRMS, Payroll management, Finance and Accounts, and other ancillary modules.
The tender document for building the PINTRA module is available on the PFRDA website. The selected SI vendor will be responsible for detailed requirement analysis, software solution development, mobile app development, cloud hosting, business process analysis, software versioning and maintenance, and providing an integrated solution. The solution must support auto alerts and reminders, digital signature integration, payment gateways, and multilevel authentication.
Conclusion: PFRDA’s TARCH project demonstrates its commitment to leveraging technology for transforming the pension system in India. The project encompasses multiple modules that aim to enhance the pension ecosystem through improved services and internal digitization. The selection of a System Integrator and adherence to agile methodology ensure a seamless integration of the modules. By embracing advanced technology solutions, PFRDA is paving the way for a more robust and pervasive pension system that meets the evolving needs of stakeholders.
PENSION FUND REGULATORY AND DEVELOPEMNT AUTHORITY
Date: 4 July 2023
Pension Fund Regulatory and Development Authority (PFRDA) Unveils Technology Vision through TARCH
PFRDA, the Regulatory Authority for NPS in India, is embracing the power of technology to drive transformation and enhance the pension ecosystem in the country. With the introduction of the Technology Architecture (TARCH) project, PFRDA aims to create a more robust and pervasive pension system, leveraging the potential of modern technology.
Technology is playing a pivotal role in driving change across industries, enabling institutions and companies to engage better with stakeholders and deliver seamless and convenient services. PFRDA recognizes the importance of adopting advanced technology solutions to enhance its services and offerings, promote innovation, and cater to the evolving needs of its stakeholders.
Envisioned Future State of TARCH:
To achieve its objectives and transform the technology landscape, PFRDA has outlined a target state architecture. The target state architecture, as depicted below consists of four Technology modules:
A. Website Revamp and Chat-bot
B. PFRDA Online Intermediary Supervision Engine (POISE)
C, PFRDA Repository & Information Systems Management: Data and Analytics Platform (PRISM)
D. PFRDA INTRANET – Internal Digitalization (PINTRA)
Scope of Work under TARCH:
PFRDA shall be selecting System Integrator (SI) through open tendering process and the SI will be responsible for studying the existing processes, proposing improved processes, and providing design, development/customization, implementation, and maintenance services for the mentioned modules. The TARCH project will integrate these modules, requiring seamless linking between them. The SI will work closely with PFRDA to ensure the acceptance of reengineered business processes for digital transformation.
Key Highlights of TARCH:
1. SI will be responsible for developing and implementing suitable solutions, including software licenses and cloud services, while ensuring compliance with security requirements.
2. The solution will support auto alerts, reminders, digital signature/esign integration, SMS gateway, payment gateway, and multilevel authentication.
3. Agile methodology will be employed for development, ensuring minimal dependency on system settings.
4. Representatives from the SI will be present at PFRDA premises for helpdesk, training, incident management, and issue resolution.
TARCH – Technology Module Highlights:
I Website Revamp and Chat-bot
II PFRDA Online Intermediary Supervision Engine (POISE)
III PFRDA Repository & Information Systems Management: Data and Analytics Platform (PRISM)
IV PFRDA Intranet (PINTRA) – Internal Digitization
PINTRA aims to enhance PFRDA’s internal activities, streamline operations, and improve efficiency and efficacy across various departments, including HRMS, Payroll management, Finance and Accounts, and other ancillary modules.
PFRDA has floated a tender to identify SI vendor for building Internal Digitalization (PINTRA) module and the tender document can be accessed in PFRDA website. The appointed SI vendor shall be undertaking the following works,
The successful bidder for building PINTRA will be required to undertake the following responsibilities:
A. Detailed Requirement Analysis: The bidder must thoroughly study the RFP to gain a comprehensive understanding of the requirements for the proposed solution. The successful bidder will then create a detailed Functional Requirement Specification (FRS) and System Requirement Specification (SRS) document, tailored to the specific needs of PFRDA.
B. PINTRA Software Solution Development: The bidder will design, develop, implement, and maintain an integrated and robust software This solution will serve as a platform for managing and automating PFRDA’s internal activities, incorporating HRMS, Payroll management, Finance and Accounts, and other relevant modules. The bidder should possess experienced teams with full functional knowledge of the solution.
C. PINTRA – Mobile App Development: The successful bidder will be responsible for designing and developing a mobile app specifically for PFRDA’s HRMS.
D. Cloud Hosting of PINTRA: The bidder will estimate the required cloud size and procure a MeitY empanelled Cloud – III tier or above (Virtual private cloud/GCC) with Disaster Recovery (DR) Centre. The cloud-based solution should be hosted within the geographical boundaries of India, ensuring accessibility through the intranet and web VPN login from anywhere.
E. PINTRA as an Integrated Solution: The bidder must analyze the existing processes, propose an integrated solution with a single sign-on, and ensure seamless integration with existing and future modules of PFRDA.
F. Business Process Analysis: The bidder’s business analyst team will be stationed at PFRDA’s office premises to understand the current business processes and suggest digital transition strategies. The suggested workflows will be submitted in the form of Functional Requirement Specifications (FRS) and Software Requirements Specification (SRS).
G. Software Versioning and Maintenance: All software modules of the proposed solution should be of the latest version at the time of The successful bidder will also provide Annual Maintenance Contract (AMC) and ensure updates/upgrades to match the latest version of the software during the six-year duration of the project.
H. Solution Options: Bidders have the flexibility to utilize proprietary solutions, COTS/MOTS products, or bespoke development. In case of open-source solutions, they must have enterprise support.
I. PINTRA for Enhanced Functionality: The solution should support auto alerts and reminders, integration of digital signature/e-sign, SMS and email gateways, payment gateways, and multilevel authentication, aligned with the design requirements of the modules.
J. Software Component Origin: The bidder must disclose the origin of all software components used in the solution, including any open-source (with enterprise support) or third-party licensed components.
K. PINTRA to be built on Agile Methodology: The solution will be developed using Agile methodology, with processes going live in the fifth month and complete project implementation within nine months. The bidder must design the solution architecture accordingly.
L. System Dependency and Support: The software solution should have zero dependency on system settings, such as pop-up settings, plugins, add-ons installations, etc. If any dependencies exist, the bidder will be responsible for their installation and support throughout the contract period.
M. Facility Management for PINTRA: During the warranty period and for the subsequent year, two representatives from the selected bidder will be present at PFRDA premises on all working days. They will provide facility management.