SPARK Forum 2025: Data, AI, and the Future of Compliance

This year’s SPARK Forum brought together some of the brightest minds in the retirement industry to discuss the technologies, partnerships, and ideas shaping the next generation of savings and financial wellness.

This was my first time attending the forum, and it did not disappoint. It was amazing to have direct and unfiltered conversations with industry leaders on topics that ranged from AI to data transformation. From all my conversations with fellow attendees, one thing was clear: the pace of change is accelerating. With that come new opportunities to reinvent how data, automation, and AI power the retirement ecosystem.

Below are my major takeaways from this year’s conference.

1. Retirement professionals are hungry for data transformation.

Across nearly every conversation, data emerged as the industry’s biggest asset — and its biggest hurdle.

“Wherever there is data movement back and forth [is an opportunity] ripe for reinvention,” said Mahesh Natarajan, CRO at Congruent Solutions. Almost everyone mentioned that the endless exchange of spreadsheets, files, and even PDFs between payroll providers, recordkeepers, TPAs, and sponsors needed a massive overhaul.

This old-school way of sending files back and forth isn’t just inefficient; it steals focus and investment away from higher-leverage projects and innovation. That pain point echoed across all the conversations I had: recordkeepers, advisors, and TPAs alike want more seamless, secure data connectivity across systems that currently speak different languages. 

As another person I spoke with put it, “If I had the ability to reinvent the system from the bottom up, I’d say this is the participant’s data, the participant should control it. And anybody who that participant wants to have that data should have access.”

For me, these conversations highlighted a shared recognition that data portability and real-time access remain central to the future of the industry. Without solving those challenges, even the most advanced tools will struggle to deliver truly seamless customer experiences.

2. The forum highlighted AI’s momentum in the industry, and served as a reality check.

Artificial intelligence dominated this year’s conference. Nearly every session touched on it, and those conversations continued onto the exhibit floor.

Many of the folks I spoke with said their organizations are already using AI in some form or another, from encouraging their teams to use Microsoft Copilot to launching AI agents that direct support calls to the right specialists. But only a few spoke of using AI tools in their client-facing products or to meaningfully change core processes.

“Everywhere, there is AI,” Mahesh told me. “But at the same time, what I also realized was nobody really has done anything other than scratching the surface.”

Why the measured approach? The retirement industry handles a lot of sensitive data and is strictly regulated, so it makes sense that providers are exercising caution. Plus, AI is only as powerful as the data is has access to, making Takeaway #1 all the more important. 

So, aside from improving individual productivity, where are the AI investments going? The answer lies in automation. Before AI, automation was already helping firms eliminate some manual steps, but it was rigid. You could script a process or create rules-based decision making, but not teach it. Today, AI-driven ingestion and validation take that foundation and make it smarter. For example, a large Ops team that once spent dozens of hours per plan cleaning data can now rely on systems that flag anomalies, learn from prior fixes, and route exceptions automatically based on plan design or past behavior. It’s clear the industry is excited for AI’s potential. If you need more proof, take a look at this recap of the session moderated by Finch’s CEO: “Powering AI Retirement Innovation.” 

AI is a powerful tool, but not yet a replacement for human oversight and touch — especially when it comes to advising participants as they make important (and emotional) decisions about their investments. 

As one person I spoke to put it: “At the end of the day, it’s about relationships.”

3. Compliance is more complex than ever. Tech can help.

If AI was the star of this year’s show, compliance was the director. With all the regulatory changes this industry has seen over the last five years (and more looming on the horizon), staying compliant remains a massive operational burden.

Many of the attendees I met spoke about things they’d like to automate: collecting payroll data, securing documents, writing deductions. The way they see it, automating some of the “boring back-office work” will present new opportunities to move more quickly, explore new types of investments, and better support sponsors and participants.

This enthusiasm for embracing new technology and innovation is driving more investment in the retirement space from fintechs, AI-native platforms, and API solutions.

“SPARK serves an industry that was considered very traditional, but that’s changing,” Mahesh told me. “There’s change happening in the industry, and I think there’s more room for innovation, which I think is welcome.”

His message to those who couldn’t make it to this year’s forum? “Innovators, come on down and talk to us.”