Changing the Pension System

Our client is a Chilean pension fund manager, engaged in the investment and collection of its affiliates' contributions, the management of individual capitalization accounts, and the provision of life and disability benefits, as well as senior retirement pensions. With over two million affiliates, it is one of the biggest fund managers in the country. Chile has a privately managed pension system based on individual capital accounts; these private companies are known as Administradoras de Fondos de Pensiones (AFPs). Due to social and political events in the country in the recent years, the government needed to address the consequences of social discontent and the Covid-19 pandemic. Congress motioned to allow affiliates of all AFPs to withdraw 10% of the funds saved in their individual accounts. Once this motion became a law, companies had 48 hours to populate the online platform for affiliates to withdraw the funds. This, of course, was a titanic task for every development team, including CleverIT. Besides the entire development and architecture for the platform that served over two million people, CleverIT also provided QA as a Service, implemented by a multi-disciplinary team that worked 24/7 towards the goal. We used a Kanban methodology with an experienced team holding GCP certifications, ideal for high-performance scalable applications.