Finch

Today's employment landscape is fragmented and complex. However, the future promises greater connectivity and integration among top players in HR tech, benefits, and fintech. The Finch team is thrilled to announce the launch of our inaugural Open Employment Ecosystem Market Map. This map features 225 companies across 15 categories and offers a comprehensive view of the open employment ecosystem. "Companies today use many applications to manage their workforce, leaving critical employee data scattered across systems of record and point solutions. While companies continue to choose best-of-breed tools for their specific needs, the lack of connectivity between these systems is a huge challenge—especially to and from payroll systems," said Alex Tran, Manager Director at General Catalyst.  "The vision of an Open Employment Ecosystem where data flows seamlessly is the primary reason we backed the Finch team, and we’re thrilled to see the first version of their market map feature other General Catalyst portfolio companies such as Awardco, Factorial, Gusto and Thatch." Whether you’re an employment application, payroll provider, investor, or just curious, check out our detailed map here: https://lnkd.in/e6RyTyUm  #HRtech #HR

At Finch, our singular focus on employment data is what sets us apart from other unified APIs. There are two types of unified APIs—horizontal and vertical. While horizontal solutions offer broad, cross-functional data access, vertical APIs deliver deep access to granular data in a specific niche. We're focused on providing access to the HRIS and payroll systems at the core of the employment ecosystem, recognizing this data's unique blend of personal, employment, and financial information that unlocks invaluable insights for businesses. By specializing in this niche, Finch empowers companies to leverage this data as a strategic asset. We offer deep integrations, granular data access, and a thorough understanding of the unique workflows within the employment ecosystem. Our verticalized approach allows us to deliver tailored solutions that meet the specific needs of businesses in this complex landscape, from HR tech to benefits to fintech. We're not just connecting data, but unlocking its full potential to drive informed decision-making and business growth.

At Finch, we understand that not all players in the employment data ecosystem are at the same stage of tech maturity. Many established providers, especially those with legacy systems, are not yet equipped to build and maintain APIs. That's where our partnership model comes in. We collaborate with these providers to facilitate their transition to API-driven connectivity. This can involve: 𝗔𝗣𝗜 𝗰𝗼𝗻𝘀𝘂𝗹𝘁𝗮𝘁𝗶𝗼𝗻: Helping partners conceptualize and structure their API architecture, guiding them through the process of releasing APIs. 𝗟𝗲𝗴𝗮𝗰𝘆 𝘀𝘆𝘀𝘁𝗲𝗺 𝗶𝗻𝘁𝗲𝗴𝗿𝗮𝘁𝗶𝗼𝗻: Connecting to existing SFTP/EDI file feeds and transforming them into the standardized Finch API format. Our goal is to meet our partners where they are, providing the necessary support and expertise to gradually shift the entire industry towards API-based data exchange. Integration partnerships, like those we cultivate at Finch, are mutually beneficial for both businesses involved. They accelerate growth, expand market reach, reduce churn, and enhance brand awareness through cross-promotion efforts. By working together, we can create a more interconnected and efficient employment data ecosystem where all players, regardless of their technological starting point, can benefit from the advantages of API-driven connectivity.

Unified APIs offer seamless connectivity between systems that vastly improves the user experience. That allows the applications and systems of record to grow their market share and free up internal teams to focus on building a better product. The unified APIs available today can be broken down into two types: generalized and niche. Each type serves distinct purposes and offers unique advantages: 🔵 𝗚𝗲𝗻𝗲𝗿𝗮𝗹𝗶𝘇𝗲𝗱 𝗼𝗿 𝗵𝗼𝗿𝗶𝘇𝗼𝗻𝘁𝗮𝗹 𝘂𝗻𝗶𝗳𝗶𝗲𝗱 𝗔𝗣𝗜𝘀 These connect and integrate software systems across various verticals and use cases. For example, they could provide API integrations to systems that range from marketing automation platforms to accounting tools. While generalized APIs are great for accessing surface-level data, they lack the deep data coverage and granularity that's found in a niche unified API. 🔵 𝗡𝗶𝗰𝗵𝗲 𝗼𝗿 𝘃𝗲𝗿𝘁𝗶𝗰𝗮𝗹-𝘀𝗽𝗲𝗰𝗶𝗳𝗶𝗰 𝘂𝗻𝗶𝗳𝗶𝗲𝗱 𝗔𝗣𝗜𝘀 These are hyper-focused on a specific sector, like employment tech. They’re best for nuanced use cases that need deeper data granularity than what’s available with a generalized API, like administering retirement benefits. For example, a niche payroll API is able to go down to an individual pay statement level—something a generalized API can’t offer. Finch’s 𝗨𝗻𝗶𝗳𝗶𝗲𝗱 𝗘𝗺𝗽𝗹𝗼𝘆𝗺𝗲𝗻𝘁 𝗔𝗣𝗜 is specifically focused on the employment ecosystem at the intersection of HR tech, benefits, and fintech. From offering a great return on your investment to making things easier for users, there’s a lot to like about unified APIs. =============================== 𝗦𝗰𝗮𝗹𝗲 𝘆𝗼𝘂𝗿 𝗶𝗻𝘁𝗲𝗴𝗿𝗮𝘁𝗶𝗼𝗻𝘀 𝘄𝗶𝘁𝗵 𝗙𝗶𝗻𝗰𝗵 If you’re looking for a unified employment API that checks all the boxes (and then some), look no further than Finch. Finch allows employment applications to access data and make changes across hundreds of HRIS and payroll systems—covering 88% of US employers—through a single API. Try it for free today.

What’s at stake when SFTP integrations don’t scale? Traditional SFTP integrations aren’t scalable because they’re difficult to implement and come with a host of manual processes. Relying on this method can limit your company’s ability to grow and hinder your profitability. ❌ 𝗟𝗶𝗺𝗶𝘁𝗮𝘁𝗶𝗼𝗻𝘀 𝗼𝗻 𝗯𝘂𝘀𝗶𝗻𝗲𝘀𝘀 𝗴𝗿𝗼𝘄𝘁𝗵 — Growing means bringing on new customers; but when the onboarding process takes months, you can quickly develop a backlog. Difficult onboarding processes take significant resources from your team, make for a poor first impression with the customer, and elongate your time to revenue. ❌ 𝗔𝗱𝗱𝗶𝘁𝗶𝗼𝗻𝗮𝗹 𝘀𝘁𝗿𝗮𝗶𝗻 𝗼𝗻 𝗶𝗻𝘁𝗲𝗿𝗻𝗮𝗹 𝘁𝗲𝗮𝗺𝘀 — SFTP connections require significant manual work even after implementation as your Operations team works to normalize and process incoming data. As your customer base grows, so too will this workload, often forcing companies to increase headcount just to keep up. ❌ 𝗛𝗮𝗿𝗱𝗲𝗿 𝘁𝗼 𝗮𝘁𝘁𝗿𝗮𝗰𝘁 𝗻𝗲𝘄 𝗰𝘂𝘀𝘁𝗼𝗺𝗲𝗿𝘀 — Today’s employers expect their applications to integrate seamlessly with one another. Many companies have invested heavily in API integrations as a competitive differentiator. A weeks- or months-long onboarding process can be a significant turnoff for modern buyers when other companies provide a simpler alternative. In short, without a scalable SFTP strategy, you risk falling behind in growth, competition, and customer satisfaction. 💪 Learn how to scale SFTP integrations and automation to enable better customer onboarding, more efficient data processing, and faster business growth. https://lnkd.in/eBVvCPyp

Tired of the complexity and inefficiency of 401(k) compliance testing? It gets worse when you're stuck with slow, error-prone data methods. Compliance testing is a complex task for recordkeepers and TPAs, requiring meticulous attention to IRS and DOL regulations, employee data, and payroll deductions—all while meeting tight deadlines. This process becomes even more challenging with traditional, manual data-sharing methods, which are often slow and error-prone. The rise of API-based payroll integrations is changing things for the better, offering direct access to payroll data, simplifying compliance testing, and reducing the burden on sponsors, ultimately enhancing the overall customer experience. Explore the basics of compliance testing and payroll API integrations. Learn how recordkeepers and TPAs can use them to streamline annual 401(k) compliance testing.

The employment technology landscape is fragmented, with systems of record (HRIS, payroll) existing in silos from point solutions (HR, benefits, financial tools). This lack of a common infrastructure creates significant challenges: ➾ 𝗗𝗮𝘁𝗮 𝘀𝗶𝗹𝗼𝘀: Valuable insights remain trapped within disparate systems, hindering data-driven decision-making. ➾ 𝗠𝗮𝗻𝘂𝗮𝗹 𝗱𝗮𝘁𝗮 𝗲𝗻𝘁𝗿𝘆: Changes in one system require tedious manual updates in others, leading to a frustrating user experience and potential customer churn for applications. This disjointed ecosystem not only stifles innovation but also burdens HR departments with an excessive administrative workload. Research shows that 64% of HR leaders spend up to nine hours each week on manual data entry, with each data point costing an average of $4.78. This translates to significant wasted time and resources. The solution? 𝗧𝗵𝗲 𝗢𝗽𝗲𝗻 𝗘𝗺𝗽𝗹𝗼𝘆𝗺𝗲𝗻𝘁 𝗘𝗰𝗼𝘀𝘆𝘀𝘁𝗲𝗺. By establishing standardized protocols for seamless data exchange, we can break down these barriers, unlock valuable insights, and foster innovation. 💡 This creates a better experience for employers and employees alike.

Employer-sponsored benefits are undergoing a revolution. Over the past five years, the rising costs of administering traditional benefits and increasing financial stress among employees have created a pressing need for change. Fortunately, new state and federal legislation has paved the way for innovative benefits providers to step in. 🚀 The result: employee benefits that are more affordable, accessible, and scalable than ever before. This opens the door wide open for employers of all sizes, especially SMBs, to offer benefits that were once beyond reach. We’re thrilled to be at the forefront of this movement, using technology to bring financial wellness benefits to more employees than ever. Discover more insights in this white paper published by our payroll integrations partner, Finch: https://lnkd.in/gkZ6Jg6z

We're thrilled to officially welcome four new members to the Finch team! Please join us in giving a warm welcome to: 🎉 David Araújo, Software Engineer 🎉 Joe Viveiros, Developer Success Engineer 🎉 Julio C. Menard, Developer Success Engineer 🎉 George Randolph, Developer Success Engineer We're excited to see the fresh perspectives and skills they'll bring to the team.

The employment data ecosystem, with its hundreds of millions of records and trillions of dollars flowing through it, is ripe for modernization. Manual processes like CSV uploads, SFTP/EDI file feeds, and human operations are the current norm, hindering scalability and efficiency. APIs offer a transformative solution to this fragmentation challenge. By establishing a unified interface or standard data model, API-driven integrations allow application developers to build seamlessly across the vast landscape of HRIS and payroll providers. 💡 This eliminates the need to tailor integrations to each individual provider, accelerating development cycles. Finch's Unified Employment API exemplifies this approach, connecting thousands of data providers through a single data model. We connect hundreds of HRIS and payroll providers to third-party B2B applications, standardize the data, and empower deeply integrated experiences throughout the employee lifecycle, from onboarding to equity management. APIs alleviate the cost burden associated with manual data handling, freeing up valuable resources and boosting overall efficiency within the sector. By streamlining data exchange and reducing manual intervention, APIs pave the way for increased innovation and growth in the employment technology space.