Bank of America - CoAdvantage HR Rewards Tax-Shelter Platform

Engineered HR-linked BofA card platform to automate cashback deposits into tax-free 401(k), HSA, and 529 accounts.

CoAdvantage, in partnership with Bank of America, sought to capitalize on new Congressional legislation enabling employees to receive pre-tax benefits via HR-integrated services. TaylorMade Software was contracted to design and implement a technical solution that linked BoA-issued credit cards with company HR systems, automatically routing cashback rewards into tax-advantaged accounts.

The platform allowed employees to direct purchases made on their BoA HR-issued cards toward one of three designated accounts: 401(k) retirement, HSA healthcare, or college savings (529). Reward funds were automatically matched by Bank of America and deposited directly into the chosen tax shelter, creating seamless integration of incentives with employee financial wellness.

TaylorMade Software developed the full-stack C# and .NET platform supporting this initiative, including secure data integration between CoAdvantage HR portals and BoA’s financial APIs. The system also included employee enrollment workflows, transaction monitoring dashboards, and account routing logic to ensure compliance with IRS and banking regulations. This solution enabled a new channel for BoA customer growth through enterprise HR networks.

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