SoFi Technologies, Capitalize expand partnership for 401(k) transfers

Capitalize and SoFi announced a major expansion of their long-standing collaboration to help members easily find and consolidate their 401(k) accounts. SoFi’s recent implementation of Capitalize’s Embedded Rollover API now allows its members to seamlessly find legacy 401(k) accounts and transfer them quickly into their SoFi Individual Retirement Account – all without leaving the SoFi app. This new integration has significantly improved the rollover experience for SoFi members, resulting in a substantially faster and lower-friction process to consolidate retirement assets at SoFi. Capitalize research has previously shown that the vast majority of savers are unable to successfully complete a rollover on their own. By embedding the Capitalize Rollover API, SoFi now offers its members a digital, modern rollover experience so that they can complete this important financial step.