Wireless service is expected to be rolled out in the first half of next year. Later on Northern plans to add news, quotes, and transactions to the service.
Northern Trust Retirement Passport is a Web-based transactional service that currently provides Internet access to over 2 million 401(k) and defined benefit plan participants.
Northern Trust undertook the development last fall as part of a corporate-wide wireless strategy, according to Greg Phillips, Chief Technologist for Northern Trust Retirement Consulting.
A prototype application that delivered basic 401(k) information to wireless devices was developed in just 30 days, according to Phillips. Northern then plugged that application into NTRC’s existing infrastructure which supports Voice Response, Web applications and Participant Servicing systems.
NTRC is in the final stages of refining its overall strategy and product development timeline for wireless applications, targeting completion of the development of this technology by the first half of next year.