Finicity is a Mastercard company that connects open banking solutions. It gives people the ability to access, control, and share their financial data with banks, lenders, or fintechs.
Finicity account aggregation is a service within the iJoin ACT experience that allows an enrolled participant to link to their outside accounts. These accounts will then be included informing the participant’s retirement goal calculation.
- To enable the plan for Finicity, the plan must first have ACT enabled.
- Navigate using the left hand menu to your plans.
- Select the plan you wish to enable Finicity on.
- Ensure Enable Plan for iJoin ACT is toggled on.
- Scroll down in the experience setup for the plan and toggle Finicity account aggregation on.
- Be sure to click save at the bottom of the page.
When the Finicity account aggregation is toggled on, enrolled participants will have the account aggregation option available when going through the iJoin experience.
Linked account assets are updated nightly within iJoin to keep the participants’ calculations up to date. This data is also available to the adviser on the plan for additional reference into participant balance information.
Be advised, iJoin pulls account information directly from Finicity. iJoin does not store login credentials for outside accounts.