New York, January 26, 2023 – TIAA, a leading provider of retirements and outcome-focused investment solutions to millions of people and thousands of institutions, has launched Client Tech Labs, a coalition of higher-education institutions and industry leaders who, together with TIAA, will work to create FinTech and other technology solutions.
"We view the ever-evolving world of technology as an endless opportunity to serve and delight our clients," said Sastry Durvasula, TIAA Chief Information & Client Services Officer. "With Client Tech Labs, TIAA will focus on client co-innovation, the integration of emerging technology, FinTech incubation, crowdsourcing, and partnerships with research and industry leaders."
Client Tech Labs will focus on strategic development in FinTech. It will also unlock emerging technologies, including AI, Web3 and Metaverse, to enhance and improve the ease of use and access to financial solutions. Client Tech Labs will employ a variety of methods such as hackathons, internships, scholarships and initiatives to promote diversity, equity, and inclusion in the field of financial technology.
A 2022 pilot program included collaborative hackathons and innovations that TIAA and participating client institutions are implementing in their strategic programs today. The first scheduled 2023 Client Tech Labs hackathon begins at Georgetown University, Friday, Jan. 27.
TIAA is a leading provider of retirements and outcome-focused investment solutions to millions of people and thousands of institutions. It is the #1 not-for-profit retirement market provider1, paid more than $6.4 billion in lifetime income to retired clients in 2021 and has $1.2 trillion in assets under management (as of 12/31/2022)2. Any guarantees under annuities issued by TIAA are subject to TIAA's claims-paying ability.