March 2025 Summaries

Runae Lee, Head of Partnerships at Finch, shares insights from HR Transform 2025, emphasizing the significant role artificial intelligence (AI) plays in shaping the future of HR technology. Despite the growing influence of AI, there is an acknowledgment of the need for human touch in products designed for people. Economic uncertainty remains a concern, prompting companies to focus on cautious growth and partnerships to maintain revenue. The rapid evolution of AI technologies poses challenges for consistency in product development, necessitating adaptability and quick pivoting. Unified APIs, like Finch, are helping to streamline partnerships and integrations, facilitating more seamless interoperability among HR tech solutions. However, fragmentation in data connectivity continues to hinder the industry, highlighting the importance of universal connectivity and real-time data synchronization to enhance productivity and accuracy. As the HR tech ecosystem evolves, Finch is actively working to address these challenges, aiming to lead the charge in creating a more integrated and AI-powered workplace.

Managing Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs) involves navigating complex processes for benefits providers, requiring seamless coordination among employers, employees, and financial institutions to ensure compliance with regulatory requirements and tax laws. A significant challenge is accessing employers' payroll data to enroll eligible employees, manage payroll deductions accurately, and address mid-year changes in contributions. HSAs and FSAs are tax-advantaged accounts that help employees save pre-tax dollars for medical expenses, with HSAs offering more flexibility and rollover options compared to FSAs. Payroll integrations play a crucial role in streamlining these processes by automating data exchange between payroll systems and benefits administration software, thus reducing manual errors, simplifying tax compliance, and enhancing the overall experience for employers and employees. Leveraging secure payroll APIs, such as those offered by Finch, enables providers to automate eligibility verification, update payroll deductions, and maintain strong data security, ultimately improving the efficiency and security of benefits administration.

Finch has introduced two new features, single sign-on (SSO) using Okta OIDC and Data Access Controls, to enhance data security and compliance for its customers who handle sensitive employment data. SSO allows organizations to manage access to the Finch Dashboard through centralized authentication, reducing unauthorized access risks and simplifying user management by using company-managed credentials. This feature supports multi-factor authentication and role-based access, aligning with industry security standards. Data Access Controls enable organizations to customize the data retrieved from Finch's API, minimizing exposure to non-essential personally identifiable information and enhancing compliance with privacy regulations. These controls also improve transparency and build trust during the authentication process by allowing businesses to display only necessary data permissions to employers. Both features are designed to strengthen Finch's data security measures while ensuring ease of use for authorized users.