PLDT and its wireless unit, Smart Communications, have partnered with Amdocs in a $300-million deal to upgrade the telecom firm’s digital capabilities while GSIS, the pension fund for government workers, is looking for managers for its $800-million overseas investments.
PLDT, Smart collaborate with Amdocs in $300m digital upgrade
Philippine telco and digital services provider PLDT and its wireless subsidiary Smart Communications have partnered with Amdocs for a technology-enabled digital transformative program, PLDT announced on Wednesday.
In a disclosure to the Philippine Stock Exchange, PLDT said Amdocs, a global provider of software and services to communications and media firms, will upgrade and manage business technology systems serving PLDT and Smart customers.
Amdocs will integrate artificial intelligence, machine learning, and other advanced technologies in the digital upgrade that costs $300 million, PLDT disclosed.
The seven-year agreement is a key component of PLDT’s transformation to enhance customer experience, engagement, and product delivery, PLDT and Smart Chairman and CEO Manuel V. Pangilinan said.
State pension fund GSIS seeks managers for $800m overseas investment
State pension fund Government Service Insurance System (GSIS) is looking to hire two foreign fund managers for its $800-million overseas investment this year, the Philippine News Agency reported.
The overseas investment is part of the pension fund’s efforts to be more aggressive in sustaining its actuarial gains, GSIS said. To date, GSIS’ investment overseas is about 10 percent of its total assets.
GSIS President and General Manager Jesus Clint Aranas was quoted by state media as saying that the fund also wanted to take advantage of the good performance of global markets to date. However, he declined to state a definite timeline for when it plans to execute the investment this year.