June 2025 Summaries

Approaching the third anniversary of their collaboration, Finch and Paycor have significantly enhanced connectivity within the employment ecosystem by providing a secure method for employers to share data with third-party tools. This partnership has led to significant milestones, including the opportunity for Finch customers to become official partners on the Paycor Marketplace, streamlining the integration process with the HCM platform. Paycor, a leading HR and payroll provider, was an early adopter of Finch's unified API, recognizing the importance of employer-permissioned data access to improve integration outcomes for developers and employers. By simplifying the integration process, Finch and Paycor have enabled hundreds of employers to connect their data to various applications seamlessly. The partnership continues to evolve, offering developers a more efficient path to collaboration and providing employers with greater flexibility in their application choices, ultimately facilitating faster market adoption of essential tools.

Finch has achieved full compatibility with FIS Relius, a leading retirement plan administration platform, allowing for seamless integration that simplifies data management for plan administrators. This compatibility enables recordkeepers to onboard plan sponsors through a simplified three-step process, automatically importing payroll and census data directly into Relius. By using the Finch Dashboard and Payroll Mapping tool, users can easily manage these connections and map pay statement items, thus minimizing manual data handling and enhancing efficiency. This integration not only facilitates secure, automated data connectivity between Relius and sponsors' payroll systems but also streamlines data collection, reducing the risk of errors and improving the overall experience for plan sponsors and administrators alike.

The U.S. retirement landscape is undergoing rapid changes driven by an aging population, legislation updates, and shifting sponsor expectations, with significant implications for future retirees and industry stakeholders. Key trends shaping the industry include a focus on connectivity for real-time information sharing, increased automation to streamline operations, and enhanced user experiences to remain competitive. Compliance is becoming more challenging due to new legislative measures like SECURE Act 2.0, which introduces complex eligibility criteria and mandates automatic enrollment. Small to mid-sized business (SMB) sponsors are increasingly prioritizing seamless administration and payroll integration in retirement plans, driven by tech-savvy Gen Z employees entering the workforce. To meet these evolving demands, plan administrators are expected to adopt technologies that enhance connectivity and automation, ensuring efficient management and compliance. The industry's future will be influenced by ongoing legislative developments, such as the anticipated Automatic IRA Act of 2024, necessitating adaptability and technological investment to thrive in this dynamic environment.