PensionPro, Finch Partner to Automate the Collection of Critical Plan Sponsor Information
The challenges associated with accessing timely, accurate and standardized sponsor data have long plagued TPAs and recordkeepers. For decades, the norm has been to rely on manual data entry or bulk file transfers, both of which are time-consuming, costly and impossible to scale. As the industry sees an influx of new plans in the wake of SECURE Act 2.0, retirement providers need a fast, reliable and secure way to collect sponsor data.
This new collaboration between PensionPro and Finch will automate the collection of critical sponsor information and dramatically simplify onboarding and administration for sponsors through Finch Connect. TPAs can either embed the Finch Connect interface into their own platform or simply share a link to enable sponsors to connect their payroll system. Once the connection is established, the TPA can automatically pull census and payroll data from the payroll system into PensionPro’s platform.
Finch stands out in this space for their API-first approach, supporting direct API integration with leading payroll providers like Gusto, Quickbooks, ADP and Paychex. This allows them to facilitate fast data delivery and to standardize the data from each provider to match the format used by the PensionPro platform, eliminating the need to manually format incoming sponsor data.
“Accurate payroll data is critical to TPAs, and this partnership gives them an automated solution for acquiring that data for their administrative workflows. Finch has a great product and relationships with a large number of payroll providers that will power efficiency for PensionPro customers,” said Darren Conner, PensionPro’s Chief Operating Officer. “We are excited to partner with Finch to broaden the connected solutions available to TPAs and help evolve the way they work.”
Jeremy Zhang, co-founder and CEO of Finch, added, “This partnership is a major win for the retirement industry. For too long, TPAs and recordkeepers have been bogged down by manual, inefficient processes because they had no alternative. We’re excited to work with leaders like PensionPro to modernize this industry so TPAs can focus on providing the best possible service to plan sponsors.”
