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Today: Jun 14, 2024

Fintech Friday: Boosting Retirement Plans with Predictive Analytics

1 min read

In the world of fintech, predictive analytics is being used to optimize retirement plan design. Fintech firm Bidmoni has introduced its Predictive Plan Design tool, which utilizes advanced algorithms and comprehensive calculations to optimize the design of retirement plans such as 401(k)s. The tool includes calculations for SECURE 2.0 tax credits and allows financial advisors, plan sponsors, and participants to save time and scale when developing plans. Bidmoni’s CEO, Stephen Daigle, believes that plan design is the most powerful part of a 401(k) because it shows business owners the value of the plan, which is what they care about most. The tool has received positive feedback and generated interest from big players in the industry.