Paradigm RKS™: Recordkeeping in the Cloud
Paradigm RKS™ is a modern, scalable, proprietary recordkeeping platform that utilizes the Amazon AWS infrastructure and the cloud.
We license this innovative technology as a Business Processing Outsource (BPO) and Software-as-a-Service (SaaS) offering to larger financial institutions who see this as an opportunity to expand their brand presence into the rapidly growing micro market.
Paradigm has end-user functionality, as well as API integration, enabling it to offer a full array of savings tools cost-effectively. Our leadership and development teams have drawn on extensive industry expertise in the design and build of Paradigm, specifically with respect to features that should be automated and those that still require the nuanced approach of an industry professional.
Paradigm Usage Statistics (from 3/2016 to 10/2020)
Paradigm was developed with world-class user experience in mind.
The platform automates many recordkeeping and plan management functions, such as:
- Improved high-volume payroll processing
- Streamlined ACH pull process automatically triggered by payroll submission
- Plan sponsors have the ability to recall a payroll that has not yet traded
- Trade files are automatically generated
- Provides optimal trade and cash reconciliation
- Ability to view a plan’s individual fund and cash reconciliation details
- Contribution adjustments are simple for reversing payrolls, changing plan years, etc.
- Simplified process for distribution and loan approval by the plan sponsor
- Processes distributions quickly and provides straight through processing capabilities
- Loan amortization schedules can be easily modified
- Brokerage account money movements are automatic
- Brokerage account opt out processing can be initiated by participant
- Negative positions do not exist
- Faster ability to find plan information in the dashboard
- Simple to find plan information including participants, plan documents, etc.
- Automatic population of the various legal documentation necessary to create the plan