SoFi and Capitalize Expand 401(k) Rollover Integration for Users
SoFi, a digital finance leader, and Capitalize, the award-winning retirement account transfer platform, have expanded their collaboration to streamline 401(k) rollovers. The new integration embeds Capitalize’s Rollover API into the SoFi app, enabling members to locate and consolidate legacy 401(k) accounts directly into their SoFi IRAs without ever leaving the app.
A Streamlined Retirement Experience
1. Seamless API Integration Enhances User Journey
- SoFi’s adoption of the Embedded Rollover API from Capitalize simplifies what has traditionally been a cumbersome process.
- Members can now complete rollovers digitally in-app, bypassing paperwork, delays, and confusion.
2. Accelerated Rollovers with Less Friction
- This integration drastically reduces the time and effort needed to consolidate retirement assets.
- Capitalize research shows most savers struggle to complete rollovers on their own—this solves that problem.
Executive Insights
“Our deepened integration with Capitalize allows us to offer a more seamless, transparent rollover experience that meets the expectations of today’s digital-first consumers.”
— Ryan Burke, VP, Head of SoFi Invest
“We’re thrilled to deepen our integration with SoFi through our modern Rollover API, and together help SoFi members better save for retirement.”
— Gaurav Sharma, CEO & Co-Founder, Capitalize
Market Opportunity and Industry Growth
3. Tapping Into Trillions in Unconsolidated 401(k) Assets
- An estimated $1.65 trillion in assets are left behind in legacy 401(k) accounts.
- With nearly $1 trillion rolled over annually, the need for efficient solutions is massive.
4. Capitalize API Gaining Industry Traction
- Capitalize’s technology has powered billions in transfers and continues to scale.
- SoFi joins a growing group of financial institutions embracing embedded fintech to grow retirement asset offerings.
The enhanced partnership between SoFi and Capitalize signals a major leap forward for digital retirement planning. By embedding Capitalize’s Rollover API, SoFi empowers users with a modern, frictionless way to take control of their retirement savings directly from their mobile devices.
