KTRADE has announced a new collaboration with Dynamis, a 7 Simple Machines platform powered by Finch, to introduce automated access to payroll and census data for its third-party administrator (tpa) alliance members.
The partnership enables direct data connectivity between plan sponsors’ payroll systems and the Dynamis platform, reducing administrative workload and enhancing accuracy in retirement plan recordkeeping.
The integration facilitates real-time access to standardised payroll, census, and pay statement data.
By connecting via Finch’s employment system API, TPAs within the KTRADE Alliance are expected to retrieve up-to-date employer data from payroll providers that collectively serve around 80% of US employers.
The solution is said to eliminate the need for spreadsheets or manual uploads by enabling secure data syncing between payroll systems and KTRADE’s retirement plan infrastructure.
As data is received through the Dynamis platform, it is automatically scrubbed to identify potential discrepancies in employee demographics and payment information. This allows administrators to simplify funding calculations and streamline year-end census filings.
KTRADE managing director Trent Newcomb said: “Our mission has always been to simplify retirement plan administration while delivering best-in-class service to our TPAs and plan sponsors.
“By leveraging the Dynamis platform with Finch’s API, we’re eliminating outdated processes and giving TPAs instant, seamless access to the critical data they need—boosting efficiency and driving better outcomes.”
Dynamis, developed by 7 Simple Machines and operating on Finch’s connectivity infrastructure, offers a range of tools for automating compliance, census, and payroll functions.
The platform supports reporting across areas including fiduciary oversight under 3(16) provisions and compliance mandates under the Secure 2.0 legislation. Its integration with Finch allows for standardised data transmission across employment systems, supporting transparency and regulatory alignment.
The adoption of this system is expected to allow TPAs to scale operations by serving more clients without increasing administrative inputs.
7 Simple Machines CEO Karim Lessard said: “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.
“The platform will enable TPAs in the KTRADE Alliance to modernise 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.”
KTRADE stated that the integration is part of its ongoing effort to equip its TPA alliance members with tools that enable them to focus on plan strategy rather than manual data processing.
The firm offers technology and recordkeeping services for retirement plans across the US. It works with plan sponsors, TPAs, and financial advisers to deliver flexible recordkeeping solutions aimed at streamlining retirement plan management.
