Pension regulator shortlists four bidders for digitisation project

Pension Fund Regulatory and Development Authority (PFRDA) has shortlisted four bidders for technical evaluation to select a system integrator (SI) for its digital platform PFRDA-TRACE.

The four chosen bidders are Bahwan Cybertek; Inspira Enterprise India; NEC Corporation India; and Trigyn Technologies, sources said.

PFRDA-TRACE (tracking, reporting, analytics, and compliance e-platform) is expected to serve as a comprehensive tool for submitting regulatory and supervisory compliance reports by intermediaries, sharing of reports and data with PFRDA, monitoring functions, and facilitating a workflow for PFRDA departments to review and track submissions. This would enable communication of observations and remarks, and incorporating a validation process for reports and data submitted by intermediaries.

PFRDA-TRACE is the second phase of its technology architecture (TARCH) project to digitise and automate its operations. 

The system integrator will be responsible for studying existing processes, proposing improved workflows, and providing design, development, customisation, implementation, and maintenance services for PFRDA-TRACE.

The last date for submission of bids was March 11.

The TARCH project is envisioned to be a modular and API (application programming interface) based platform. 

The technology architecture envisaged for PFRDA will have four modules —Website revamp and chatbot; PFRDA online intermediary supervision engine (POISE); PFRDA repository and information systems management: data and analytics platform (PRISM); and PFRDA Intranet — internal digitalisation (PINTRA).