KTRADE announced its partnership with Dynamis, a 7 Simple Machines platform powered by Finch, to bring automated data access and insights to their Third-Party Administrators (TPAs) Alliance Members. This collaboration will provide seamless connectivity to plan sponsor census, payroll, and pay statement data, eliminating manual processes and improving efficiency for TPAs and retirement plan administrators.
“Our mission has always been to simplify retirement plan administration while delivering best-in-class service to our TPAs and plan sponsors,” said Trent Newcomb, Managing Director at KTRADE.
“Our mission has always been to simplify retirement plan administration while delivering best-in-class service to our TPAs and plan sponsors,” said Trent Newcomb, Managing Director at KTRADE. “By leveraging the Dynamis platform with Finch’s API, we’re eliminating outdated processes and giving TPAs instant, seamless access to the critical data they need—boosting efficiency and driving better outcomes.”
From census to 3(16) to Secure 2.0, Dynamis supplies advanced data intelligence with standardized, automated reports that ensure confidence in compliance and enhanced efficiency. Powered by Finch’s end-to-end data connectivity platform, Dynamis will provide KTRADE Alliance Members with direct access to standardized payroll and census data from plan sponsors’ payroll systems with coverage that accounts for 80% of all US employers. This innovation will significantly reduce administrative burdens, increase accuracy, and streamline retirement plan management like never before.
“We built Dynamis to support the business needs of TPAs. We knew the unbundled market needed a platform that could drive efficiency for administrators, open up new revenue streams and accommodate changes from Secure 2.0,” said Karim Lessard, CEO of 7 Simple Machines. “The platform will enable TPAs in the KTRADE Alliance to modernize their service delivery. Rather than chasing census and payroll data, Dynamis will allow members to automatically collect vital sponsor data and spend more time on value-add activities for their clients.”
“Finch is transforming the retirement industry by enabling direct access to the source of truth for employer payroll and census data,” said Finch Co-Founder Ansel Parikh. “TPAs and recordkeepers have been bogged down with inefficient, manual processes for too long. Our automated solutions will empower these administrators to streamline operations in order to focus on their primary mission: helping people plan for their financial futures.”
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Key Benefits of the Partnership:
Seamless Payroll & Census Data Access – KTRADE Alliance Members can now pull up-to-date employer data directly into the Dynamis platform via Finch, ensuring accuracy and compliance.
Eliminating Manual Data Entry – Say goodbye to spreadsheets and manual uploads—this integration automates data syncing, saving valuable time.
Data Intelligence and Scrubbing – Incoming payroll data is automatically scrubbed for errors, highlighting issues with payments and employee demographics and allowing for simplified plan funding and year-end census filing.
Scalability & Efficiency – TPAs can serve more clients efficiently, focusing on strategic plan management rather than administrative tasks.
With this partnership, KTRADE is setting a new standard for TPA and retirement plan administration, reinforcing its commitment to innovation, efficiency, and client success.
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Source: Businesswire
