Announcing Expanded Platform Features for Recordkeepers and TPAs

We’re excited to announce new platform features focused on the Retirement sector, including a robust sponsor onboarding experience, universal compatibility for TPA and recordkeeping systems, and expanded data fields. These features will enable TPAs and recordkeepers to adopt Finch out of the box with their current workflow and systems without any engineering effort, allowing them to work more efficiently, eliminate administrative bottlenecks, and reduce overhead costs while focusing on delivering best-in-class service to plan sponsors.

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Recordkeepers and TPAs need reliable access to timely, accurate, and standardized employer data, but for decades, the primary means of collecting this information has been through SFTP connections or manual processes. Both methods are time-consuming, costly, and impossible to scale, and retirement providers feel the strain. A 2024 survey conducted by the SPARK Institute found that 93% of recordkeepers view payroll integrations as important, a view that’s supported by their survey data for the last 3 years.

Our platform offers an alternative. By bridging the gap between plan management platforms and sponsors’ payroll systems, recordkeepers and TPAs are able to securely, easily, and automatically access census and payroll data directly from the employer’s source of truth. 

Finch is the industry leader with the most extensive payroll provider network, covering 80% of U.S. employers. Our automated data refresh and 360° payroll integration capabilities streamline deduction management, while our secure, scalable API infrastructure meets SOC2 and HIPAA compliance standards — enabling recordkeepers and TPAs to confidently manage payroll data and expand effortlessly.

Our years of experience in the Retirement sector have shaped the features we built specifically for this industry. Finch is already used by more than 40 leading recordkeepers and TPAs, including Nova 401(k) Associates, Ameritas, ePlan (Paychex), Human Interest, and Betterment. Our platform serves 45,000+ employers and more than 5 million employees, establishing Finch as the trusted choice for seamless payroll connectivity.

Today, we’re excited to share that we’re taking the product a step further, introducing new features, including a more robust sponsor onboarding experience, direct support for TPA and recordkeeping systems, and expanded data fields that are critical to retirement plan management.

Enhanced sponsor onboarding experience

We’ve implemented new capabilities to our embedded employer onboarding experience, Finch Connect. Recordkeepers and TPAs can embed the Finch Connect workflow into their system or invite sponsors using a secure link. In minutes, plan sponsors can connect their payroll provider to send census and pay data to their retirement provider. 

Now, sponsors will also be able to use Finch Connect to map data like source codes and pay statement classifications to meet the specific needs of their retirement plans. Through our recently improved Dashboard, plan administrators can easily track the status of each connected sponsor and ensure data is flowing seamlessly.

Universal recordkeeping and TPA system support

With expanded support for leading recordkeeping and TPA systems, Finch is now compatible with PensionPro, ASC Retirement Plan Software, FIS Relius, and SS&C Technologies. Retirement providers using these systems can use Finch to automatically pull sponsor data directly into the platform.

We’ve also expanded our product offering to include custom Flat File support for any system, no development work required. Recordkeepers and TPAs can create a custom file format and have their sponsors’ data delivered by Finch in a CSV file to their SFTP location. Through Finch’s unified API, the data is standardized, meaning it is always delivered in the same format, regardless of the payroll system it came from. These files are automatically delivered with each pay run, ensuring recordkeepers and TPAs always have the most up-to-date data — even without building an API integration. 

Expanded field support

Finch now supports fields for Rehire Date and Pay Group or Division across payroll systems. This information, essential to retirement plan administration, is often difficult to access, leaving a critical data gap across most connectivity solutions. 

Rehire Date data allows recordkeepers and TPAs to accurately track employee tenure, ensuring plan participants are eligible and accurately vested, even with service breaks. With Pay Group data, contributions align seamlessly with each payroll cycle, supporting compliance and enhancing service quality. This empowers recordkeepers and TPAs to deliver more precise, compliant retirement management across diverse payroll platforms.

The future of connectivity in retirement

Our vision is to deliver complete data connectivity across all retirement systems and payroll providers so recordkeepers and TPAs are empowered to automate routine tasks and provide better service to their customers. To achieve this vision, we’ll focus on three core tenets as we continue to evolve our retirement product:

• Continued network expansion: We’ll continue to expand our integrations across HRIS and payroll providers and retirement software systems, including new direct integrations with major recordkeeping systems. Our goal is to power 100% of the connectivity any recordkeepers or TPA needs.
• Expanded 360° capabilities: We’re advancing support for custom flat files, allowing deductions to be written back across payroll providers without the need for engineering resources.
• Increased Dashboard observability: As the product evolves, the Finch Dashboard will provide deeper visualization of sponsor data and a clear view of the health of all sponsor connections. 

We look forward to working hand-in-hand with our existing retirement customers to inform our product roadmap.

“Collecting census and pay data from sponsors used to be a challenge because we had to spend so much time sifting through the data, making sure it was accurate, and transforming it into our standard format. Now that we’ve automated the process, we’ve eliminated administrative bottlenecks, reduced our overhead costs, and improved service quality for our clients,” said Chandler Julian, Director of Recordkeeping at NestEggs. “Thanks to Finch democratizing access to critical employment data, we're now able to deliver the kind of seamless integration experience that our clients expect from their service providers."

“Thanks to Finch democratizing access to critical employment data, we're now able to deliver the kind of seamless integration experience that our clients expect from their service providers."

Get connected through Finch

Finch makes it easy for recordkeepers and TPAs to securely, easily, and automatically access sponsor census and pay data directly from the payroll system and make deferral changes for the sponsor. Designed with the retirement industry in mind, Finch can be customized to meet the unique needs of your business and sponsors.

If you already are a customer, please reach out to your Account Manager to get access to these new features. To learn more about what Finch can do for your organization, contact our Sales team.