Case Study
GTC Achieves 2-pot legislation compliance in record time thanks to SnapLogic
14 February 2025
Business Results
Increased engagement
Improved processing
Growth in automation
Headquarters: Johannesburg, South Africa
Industry: Financial services
Use Case: Workflow Orchestration • Reporting Automation • Customer Communication
Department: IT • Legal • Customer Service • Wealth • Asset and Fund Management
Integrations: True North • Qlik Nprinting • Alfresco • Bizagi • ODS Customer and Product • Database • Twilio • Office 365
Farhadh Dildar
Group Chief Operating Officer at GTCSetting the Stage
A leader in integrating advanced technology into its operations, laying the groundwork for agile responses to industry changes.
GTC (formerly Grant Thornton Capital) is a South African financial services provider focused on managing retirement funds, wealth management, and asset management.
The company’s core mission is to provide clients with financial security and a seamless and integrated customer experience, leveraging modern technologies to enhance transparency, accessibility, and efficiency in its services. GTC has a long-standing reputation for proactive, client-centered service, ensuring clients are well informed and prepared for both immediate financial needs and long-term retirement goals.
Over the past seven years, GTC has positioned itself as a leader in integrating advanced technology into its operations, laying the groundwork for agile responses to industry changes.
“We operate in a very serious industry — managing people’s pensions and provident funds,” said Manty Seligman, Director of Asset Management at GTC.
“Our priority has always been to ensure that clients are informed and prepared for their financial needs. That’s why, over the last seven years, we’ve invested heavily in technology to provide transparency and ease of access to critical financial information to serve our clients better.”
The Challenge
Digitally Communicate with members en masse and implement processes within a tight deadline.
In March 2024, the South African government passed the 2-Pot legislation, requiring retirement fund administrators to enable partial withdrawals from retirement savings from 1 September 2024, while preserving long-term retirement funds. For GTC, the timing was tight as it needed to communicate with members en masse and implement processes that could engage customers digitally and process claims for a large portion of its membership within a short time frame.
Notably, 46% of GTC’s members were eligible to claim under the new system, so it had to ensure that members were well-informed about the financial impact of their decisions, providing accurate, real-time projections on how withdrawals would affect their retirement savings.
“When the 2-Pot legislation came down, it wasn’t just about enabling withdrawals by 1 September; it was about giving members the right tools and information to make informed decisions,” said Farhadh Dildar, Group Chief Operating Officer at GTC. “As for processing our client withdrawal requirements, we would need to do it quickly, at scale, and with the accuracy and compliance required in our industry.”
“We knew we had the backbone through our existing systems to support this, but the complexity and volume of the 2-Pot requirements pushed us to look for something capable of automating complex workflows and scaling exponentially.”
The Solution
AI-led generative integration platform expansion
Working together, the teams used SnapLogic to integrate GTC’s core retirement fund system (Everest), financial calculation engine (True North), Bizagi for process management, and several other essential tools to generate personalised impact reports for members.
These reports provided detailed projections of how withdrawals under the 2-Pot system would affect members’ long-term savings. The integration ensured seamless data sharing across systems and enabled members to securely submit claims through a portal, without the need for manual intervention.
In addition to SnapLogic’s orchestration, the integration leveraged a variety of internal applications. True North provided the financial projections, while Qlik NPrinting handled the reporting, and Alfresco managed document storage.
Bizagi ensured smooth workflow automation
Bizagi ensured smooth workflow automation, and GTC’s internal systems supported initial client communications and case management.
The integration also utilised GTC’s Operational Data Store (ODS) for customer and product data, Twilio for messaging, and Office 365 for email communications, all orchestrated by SnapLogic and working together to deliver an efficient, fully automated experience for members.
What we Achieved
GTC engaged with over 25,000 members
Following the implementation of the solution, GTC engaged with over 25,000 members, providing personalised reports including financial projections that enabled them to make informed decisions well ahead of the 1 September 2024 withdrawal date.
The integration allowed for seamless, real-time data processing, delivering accurate projections of the impact of a 2-Pot withdrawal on a member’s long-term savings.
This achievement was particularly remarkable given the tight timeline and scale of the challenge. “In the financial services industry, you usually process around 0.87% of your membership in claims per month,” explained Dildar. “For 2-Pot, we had to process claims for up to 46% of our membership in just two weeks.
That’s a 50-fold increase in your processing volumes and necessitated implementing a solution to provide the required processing exponentiality. If we hadn’t automated our solution utilising SnapLogic, we would have needed to increase our human capital count by 150%. Instead, we completed 35-40 months’ worth of work in two weeks.”
Minimal impact on its existing resources and leverage from existing core technology
Seligman highlighted the importance of compliance and data integrity, critical elements in the financial services industry. “We ensured that all regulatory requirements, like FICA and POPI, were integrated into the system. The automation didn’t just help us with efficiency; it helped ensure accuracy and compliance.
The system automatically verified member details, flagged any compliance issues, and ensured payouts were only made to verified accounts. It’s not just about getting things done quickly, it’s about doing it right and maintaining the integrity of the data and our reputation.”
Seamless and secure experience
The solution also ensured that the member experience was seamless and secure and beyond communication around the mechanics of 2-Pot withdrawals as they could submit their claims through a secure portal.
Even for less tech-savvy members, GTC provided remote assistance, ensuring that no one was left behind. Approximately 10-15% of claims were processed via the portal with the help of GTC’s support team, guiding members through the portal remotely, even for customers with limited technology access.
Adoption
Looking forward
GTC is well-positioned to continue innovating in the financial services sector.
The project has offered Dildar and his team insights into how they can harness their learnings to elevate GTC’s systems even further. “The 2-Pot solution was just a sub-process of our broader goal to create an end-to-end engagement cycle with our clients. We’re already looking at reusing the orchestration we have been able to achieve in other parts of our business, expanding automation and client engagement.
This success has shown us that we can apply this framework to streamline even more processes moving forward,” he said. GTC also sees potential for leveraging AI and further expanding its use of automated tools to improve customer engagement and operational efficiency.
The success of the 2-Pot project has demonstrated the scalability and flexibility of the SnapLogic platform, and GTC is well-positioned to continue innovating in the financial services sector.
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