diff --git a/dependencies.gradle b/dependencies.gradle
index 9496c8cd9bb..dc04bbd9fda 100644
--- a/dependencies.gradle
+++ b/dependencies.gradle
@@ -1,5 +1,6 @@
 ext.versions = [
         detekt: "1.20.0",
+        mavericks: "2.6.1"
 ]
 
 ext.buildLibs = [
@@ -10,6 +11,11 @@ ext.configs = [
         androidLibrary: "${project.rootDir}/build-configuration/android-library.gradle",
 ]
 
+ext.libs = [
+        mavericks: "com.airbnb.android:mavericks:$versions.mavericks"
+]
+
 ext.testLibs = [
-        turbine: "app.cash.turbine:turbine:0.8.0"
+        turbine: "app.cash.turbine:turbine:0.8.0",
+        mavericks: "com.airbnb.android:mavericks-testing:$versions.mavericks"
 ]
diff --git a/financial-connections-example/build.gradle b/financial-connections-example/build.gradle
index deaa47d4acd..3d4f8ec6bca 100644
--- a/financial-connections-example/build.gradle
+++ b/financial-connections-example/build.gradle
@@ -47,7 +47,6 @@ dependencies {
 
     implementation "androidx.activity:activity-ktx:$androidxActivityVersion"
     implementation "androidx.appcompat:appcompat:$androidxAppcompatVersion"
-    implementation "androidx.constraintlayout:constraintlayout:$androidxConstraintlayoutVersion"
     implementation "androidx.core:core-ktx:$androidxCoreVersion"
     implementation "com.google.android.material:material:$materialVersion"
     implementation 'com.google.code.gson:gson:2.9.0'
diff --git a/financial-connections/api/financial-connections.api b/financial-connections/api/financial-connections.api
index 68693c230f1..ae59cd9976f 100644
--- a/financial-connections/api/financial-connections.api
+++ b/financial-connections/api/financial-connections.api
@@ -120,11 +120,11 @@ public abstract interface class com/stripe/android/financialconnections/Financia
 }
 
 public final class com/stripe/android/financialconnections/FinancialConnectionsSheetViewModel_Factory : dagger/internal/Factory {
-	public fun <init> (Ljavax/inject/Provider;Ljavax/inject/Provider;Ljavax/inject/Provider;Ljavax/inject/Provider;Ljavax/inject/Provider;Ljavax/inject/Provider;Ljavax/inject/Provider;)V
-	public static fun create (Ljavax/inject/Provider;Ljavax/inject/Provider;Ljavax/inject/Provider;Ljavax/inject/Provider;Ljavax/inject/Provider;Ljavax/inject/Provider;Ljavax/inject/Provider;)Lcom/stripe/android/financialconnections/FinancialConnectionsSheetViewModel_Factory;
+	public fun <init> (Ljavax/inject/Provider;Ljavax/inject/Provider;Ljavax/inject/Provider;Ljavax/inject/Provider;Ljavax/inject/Provider;Ljavax/inject/Provider;)V
+	public static fun create (Ljavax/inject/Provider;Ljavax/inject/Provider;Ljavax/inject/Provider;Ljavax/inject/Provider;Ljavax/inject/Provider;Ljavax/inject/Provider;)Lcom/stripe/android/financialconnections/FinancialConnectionsSheetViewModel_Factory;
 	public fun get ()Lcom/stripe/android/financialconnections/FinancialConnectionsSheetViewModel;
 	public synthetic fun get ()Ljava/lang/Object;
-	public static fun newInstance (Ljava/lang/String;Lcom/stripe/android/financialconnections/launcher/FinancialConnectionsSheetActivityArgs;Lcom/stripe/android/financialconnections/domain/GenerateFinancialConnectionsSessionManifest;Lcom/stripe/android/financialconnections/domain/FetchFinancialConnectionsSession;Lcom/stripe/android/financialconnections/domain/FetchFinancialConnectionsSessionForToken;Landroidx/lifecycle/SavedStateHandle;Lcom/stripe/android/financialconnections/analytics/FinancialConnectionsEventReporter;)Lcom/stripe/android/financialconnections/FinancialConnectionsSheetViewModel;
+	public static fun newInstance (Ljava/lang/String;Lcom/stripe/android/financialconnections/domain/GenerateFinancialConnectionsSessionManifest;Lcom/stripe/android/financialconnections/domain/FetchFinancialConnectionsSession;Lcom/stripe/android/financialconnections/domain/FetchFinancialConnectionsSessionForToken;Lcom/stripe/android/financialconnections/analytics/FinancialConnectionsEventReporter;Lcom/stripe/android/financialconnections/FinancialConnectionsSheetState;)Lcom/stripe/android/financialconnections/FinancialConnectionsSheetViewModel;
 }
 
 public final class com/stripe/android/financialconnections/analytics/DefaultFinancialConnectionsEventReporter_Factory : dagger/internal/Factory {
@@ -135,19 +135,9 @@ public final class com/stripe/android/financialconnections/analytics/DefaultFina
 	public static fun newInstance (Lcom/stripe/android/core/networking/AnalyticsRequestExecutor;Lcom/stripe/android/core/networking/AnalyticsRequestFactory;Lkotlin/coroutines/CoroutineContext;)Lcom/stripe/android/financialconnections/analytics/DefaultFinancialConnectionsEventReporter;
 }
 
-public final class com/stripe/android/financialconnections/databinding/ActivityFinancialconnectionsSheetBinding : androidx/viewbinding/ViewBinding {
-	public final field spinner Lcom/google/android/material/progressindicator/CircularProgressIndicator;
-	public static fun bind (Landroid/view/View;)Lcom/stripe/android/financialconnections/databinding/ActivityFinancialconnectionsSheetBinding;
-	public synthetic fun getRoot ()Landroid/view/View;
-	public fun getRoot ()Landroidx/constraintlayout/widget/ConstraintLayout;
-	public static fun inflate (Landroid/view/LayoutInflater;)Lcom/stripe/android/financialconnections/databinding/ActivityFinancialconnectionsSheetBinding;
-	public static fun inflate (Landroid/view/LayoutInflater;Landroid/view/ViewGroup;Z)Lcom/stripe/android/financialconnections/databinding/ActivityFinancialconnectionsSheetBinding;
-}
-
 public final class com/stripe/android/financialconnections/di/DaggerFinancialConnectionsSheetComponent : com/stripe/android/financialconnections/di/FinancialConnectionsSheetComponent {
 	public static fun builder ()Lcom/stripe/android/financialconnections/di/FinancialConnectionsSheetComponent$Builder;
 	public fun getViewModel ()Lcom/stripe/android/financialconnections/FinancialConnectionsSheetViewModel;
-	public fun inject (Lcom/stripe/android/financialconnections/FinancialConnectionsSheetViewModel$Factory;)V
 }
 
 public final class com/stripe/android/financialconnections/di/FinancialConnectionsSheetConfigurationModule_ProvidesApplicationIdFactory : dagger/internal/Factory {
diff --git a/financial-connections/build.gradle b/financial-connections/build.gradle
index 9ce0d244f2e..7b105815429 100644
--- a/financial-connections/build.gradle
+++ b/financial-connections/build.gradle
@@ -29,10 +29,10 @@ dependencies {
     implementation "org.jetbrains.kotlinx:kotlinx-coroutines-core:$kotlinCoroutinesVersion"
     implementation "org.jetbrains.kotlinx:kotlinx-coroutines-android:$kotlinCoroutinesVersion"
     implementation "org.jetbrains.kotlinx:kotlinx-serialization-json:$kotlinSerializationVersion"
+    implementation libs.mavericks
 
     kapt "com.google.dagger:dagger-compiler:$daggerVersion"
 
-    testImplementation 'app.cash.turbine:turbine:0.8.0'
     testImplementation "androidx.arch.core:core-testing:$androidxArchCoreVersion"
     testImplementation "androidx.fragment:fragment-testing:$androidxFragmentVersion"
     testImplementation "androidx.test.ext:junit-ktx:$androidTestJunitVersion"
@@ -47,6 +47,7 @@ dependencies {
     testImplementation "org.mockito:mockito-core:$mockitoCoreVersion"
     testImplementation "org.mockito:mockito-inline:$mockitoCoreVersion"
     testImplementation "org.robolectric:robolectric:$robolectricVersion"
+    testImplementation testLibs.mavericks
 
     androidTestImplementation "androidx.test.espresso:espresso-core:$espressoVersion"
     androidTestImplementation "androidx.test:rules:$androidTestVersion"
@@ -56,13 +57,6 @@ dependencies {
     ktlint "com.pinterest:ktlint:$ktlintVersion"
 }
 
-android {
-    buildFeatures {
-        viewBinding true
-    }
-}
-
-
 ext {
     artifactId = "financial-connections"
     artifactName = "financial-connections"
diff --git a/financial-connections/res/layout/activity_financialconnections_sheet.xml b/financial-connections/res/layout/activity_financialconnections_sheet.xml
index 60257da7ec6..d10ce4abb68 100644
--- a/financial-connections/res/layout/activity_financialconnections_sheet.xml
+++ b/financial-connections/res/layout/activity_financialconnections_sheet.xml
@@ -1,5 +1,5 @@
 <?xml version="1.0" encoding="utf-8"?>
-<androidx.constraintlayout.widget.ConstraintLayout xmlns:android="http://schemas.android.com/apk/res/android"
+<FrameLayout xmlns:android="http://schemas.android.com/apk/res/android"
     xmlns:app="http://schemas.android.com/apk/res-auto"
     android:layout_width="match_parent"
     android:layout_height="match_parent">
@@ -8,6 +8,7 @@
         android:id="@+id/spinner"
         android:layout_width="wrap_content"
         android:layout_height="wrap_content"
+        android:layout_gravity="center"
         android:indeterminate="true"
         app:indicatorColor="@color/stripe_toolbar_color_default"
         app:indicatorSize="@dimen/stripe_connectionssheet_loading_indicator_size"
@@ -17,4 +18,4 @@
         app:layout_constraintTop_toTopOf="parent"
         app:trackThickness="@dimen/stripe_connectionssheet_loading_indicator_stroke_width" />
 
-</androidx.constraintlayout.widget.ConstraintLayout>
+</FrameLayout>
\ No newline at end of file
diff --git a/financial-connections/src/main/AndroidManifest.xml b/financial-connections/src/main/AndroidManifest.xml
index b303ce148d6..316e1fd1bd1 100644
--- a/financial-connections/src/main/AndroidManifest.xml
+++ b/financial-connections/src/main/AndroidManifest.xml
@@ -29,6 +29,12 @@
             android:name="com.stripe.android.financialconnections.FinancialConnectionsSheetActivity"
             android:exported="false"
             android:theme="@style/StripeDefaultTheme" />
+
+        <provider
+            android:name=".appinitializer.FinancialConnectionsInitializer"
+            android:authorities="${applicationId}.financialconnections-init"
+            android:exported="false"
+            android:multiprocess="true" />
     </application>
 
     <!--
diff --git a/financial-connections/src/main/java/com/stripe/android/financialconnections/FinancialConnectionsSheet.kt b/financial-connections/src/main/java/com/stripe/android/financialconnections/FinancialConnectionsSheet.kt
index a78198f14a5..36e63686af0 100644
--- a/financial-connections/src/main/java/com/stripe/android/financialconnections/FinancialConnectionsSheet.kt
+++ b/financial-connections/src/main/java/com/stripe/android/financialconnections/FinancialConnectionsSheet.kt
@@ -15,8 +15,9 @@ import kotlinx.parcelize.Parcelize
  * typically as a field initializer of an Activity or Fragment.
  */
 class FinancialConnectionsSheet internal constructor(
-    private val financialConnectionsSheetLauncher: FinancialConnectionsSheetLauncher
+    private val financialConnectionsSheetLauncher: FinancialConnectionsSheetLauncher,
 ) {
+
     /**
      * Configuration for a [FinancialConnectionsSheet]
      *
diff --git a/financial-connections/src/main/java/com/stripe/android/financialconnections/FinancialConnectionsSheetActivity.kt b/financial-connections/src/main/java/com/stripe/android/financialconnections/FinancialConnectionsSheetActivity.kt
index 0c9632568f4..0fbfb93ceeb 100644
--- a/financial-connections/src/main/java/com/stripe/android/financialconnections/FinancialConnectionsSheetActivity.kt
+++ b/financial-connections/src/main/java/com/stripe/android/financialconnections/FinancialConnectionsSheetActivity.kt
@@ -1,126 +1,75 @@
 package com.stripe.android.financialconnections
 
-import android.app.Activity
 import android.content.Intent
 import android.net.Uri
 import android.os.Bundle
 import androidx.activity.result.contract.ActivityResultContracts.StartActivityForResult
-import androidx.activity.viewModels
-import androidx.annotation.VisibleForTesting
 import androidx.appcompat.app.AppCompatActivity
-import androidx.lifecycle.ViewModelProvider
-import androidx.lifecycle.lifecycleScope
+import com.airbnb.mvrx.MavericksView
+import com.airbnb.mvrx.viewModel
+import com.airbnb.mvrx.withState
 import com.stripe.android.financialconnections.FinancialConnectionsSheetViewEffect.FinishWithResult
 import com.stripe.android.financialconnections.FinancialConnectionsSheetViewEffect.OpenAuthFlowWithUrl
-import com.stripe.android.financialconnections.databinding.ActivityFinancialconnectionsSheetBinding
-import com.stripe.android.financialconnections.launcher.FinancialConnectionsSheetActivityArgs
 import com.stripe.android.financialconnections.launcher.FinancialConnectionsSheetActivityResult
 import com.stripe.android.financialconnections.presentation.CreateBrowserIntentForUrl
-import java.security.InvalidParameterException
 
-internal class FinancialConnectionsSheetActivity : AppCompatActivity() {
+internal class FinancialConnectionsSheetActivity :
+    AppCompatActivity(R.layout.activity_financialconnections_sheet), MavericksView {
+
+    val viewModel: FinancialConnectionsSheetViewModel by viewModel()
 
     private val startForResult = registerForActivityResult(StartActivityForResult()) {
         viewModel.onActivityResult()
     }
 
-    @VisibleForTesting
-    internal val viewBinding by lazy {
-        ActivityFinancialconnectionsSheetBinding.inflate(layoutInflater)
-    }
-
-    @VisibleForTesting
-    internal var viewModelFactory: ViewModelProvider.Factory =
-        FinancialConnectionsSheetViewModel.Factory(
-            { application },
-            { requireNotNull(starterArgs) },
-            this,
-            intent?.extras
-        )
-
-    private val viewModel: FinancialConnectionsSheetViewModel by viewModels { viewModelFactory }
-
-    private val starterArgs: FinancialConnectionsSheetActivityArgs? by lazy {
-        FinancialConnectionsSheetActivityArgs.fromIntent(intent)
-    }
-
     override fun onCreate(savedInstanceState: Bundle?) {
         super.onCreate(savedInstanceState)
-        setContentView(viewBinding.root)
-
-        val starterArgs = this.starterArgs
-        if (starterArgs == null) {
-            finishWithResult(
-                FinancialConnectionsSheetActivityResult.Failed(
-                    IllegalArgumentException("ConnectionsSheet started without arguments.")
-                )
-            )
-            return
-        } else {
-            try {
-                starterArgs.validate()
-            } catch (e: InvalidParameterException) {
-                finishWithResult(FinancialConnectionsSheetActivityResult.Failed(e))
-                return
-            }
-        }
-
-        setupObservers()
+        viewModel.onEach { postInvalidate() }
         if (savedInstanceState != null) viewModel.onActivityRecreated()
     }
 
-    private fun setupObservers() {
-        lifecycleScope.launchWhenStarted {
-            viewModel.state.collect {
-                // process state updates here.
-            }
-        }
-        lifecycleScope.launchWhenStarted {
-            viewModel.viewEffect.collect { viewEffect ->
-                when (viewEffect) {
-                    is OpenAuthFlowWithUrl -> viewEffect.launch()
-                    is FinishWithResult -> finishWithResult(viewEffect.result)
-                }
-            }
-        }
-    }
-
-    private fun OpenAuthFlowWithUrl.launch() {
-        val uri = Uri.parse(this.url)
-        startForResult.launch(
-            CreateBrowserIntentForUrl(
-                context = this@FinancialConnectionsSheetActivity,
-                uri = uri,
-            )
-        )
-    }
-
     override fun onResume() {
         super.onResume()
         viewModel.onResume()
     }
 
+    override fun onBackPressed() {
+        super.onBackPressed()
+        finishWithResult(FinancialConnectionsSheetActivityResult.Canceled)
+    }
+
     /**
      * Handles new intents in the form of the redirect from the custom tab hosted auth flow
      */
-    public override fun onNewIntent(intent: Intent?) {
+    override fun onNewIntent(intent: Intent?) {
         super.onNewIntent(intent)
         viewModel.handleOnNewIntent(intent)
     }
 
     /**
-     * If the back button is pressed during the manifest fetch or session fetch
-     * return canceled result
+     * handle state changes here.
      */
-    override fun onBackPressed() {
-        finishWithResult(FinancialConnectionsSheetActivityResult.Canceled)
+    override fun invalidate() {
+        withState(viewModel) { state ->
+            state.viewEffect?.let { viewEffect ->
+                when (viewEffect) {
+                    is OpenAuthFlowWithUrl -> startForResult.launch(
+                        CreateBrowserIntentForUrl(
+                            context = this,
+                            uri = Uri.parse(viewEffect.url),
+                        )
+                    )
+                    is FinishWithResult -> finishWithResult(
+                        viewEffect.result
+                    )
+                }
+                viewModel.onViewEffectLaunched()
+            }
+        }
     }
 
     private fun finishWithResult(result: FinancialConnectionsSheetActivityResult) {
-        setResult(
-            Activity.RESULT_OK,
-            Intent().putExtras(result.toBundle())
-        )
+        setResult(RESULT_OK, Intent().putExtras(result.toBundle()))
         finish()
     }
 }
diff --git a/financial-connections/src/main/java/com/stripe/android/financialconnections/FinancialConnectionsSheetState.kt b/financial-connections/src/main/java/com/stripe/android/financialconnections/FinancialConnectionsSheetState.kt
index 7d68f4b304f..03cefe79cb1 100644
--- a/financial-connections/src/main/java/com/stripe/android/financialconnections/FinancialConnectionsSheetState.kt
+++ b/financial-connections/src/main/java/com/stripe/android/financialconnections/FinancialConnectionsSheetState.kt
@@ -1,6 +1,8 @@
 package com.stripe.android.financialconnections
 
-import androidx.lifecycle.SavedStateHandle
+import com.airbnb.mvrx.MavericksState
+import com.airbnb.mvrx.PersistState
+import com.stripe.android.financialconnections.launcher.FinancialConnectionsSheetActivityArgs
 import com.stripe.android.financialconnections.launcher.FinancialConnectionsSheetActivityResult
 import com.stripe.android.financialconnections.launcher.FinancialConnectionsSheetForDataContract
 import com.stripe.android.financialconnections.model.FinancialConnectionsSessionManifest
@@ -9,38 +11,22 @@ import com.stripe.android.financialconnections.model.FinancialConnectionsSession
  *  Class containing all of the data needed to represent the screen.
  */
 internal data class FinancialConnectionsSheetState(
+    val initialArgs: FinancialConnectionsSheetActivityArgs,
     val activityRecreated: Boolean = false,
-    val manifest: FinancialConnectionsSessionManifest? = null,
-    val authFlowActive: Boolean = false
-) {
+    @PersistState val manifest: FinancialConnectionsSessionManifest? = null,
+    @PersistState val authFlowActive: Boolean = false,
+    val viewEffect: FinancialConnectionsSheetViewEffect? = null
+) : MavericksState {
 
-    /**
-     * Restores existing persisted fields into the current [FinancialConnectionsSheetState]
-     */
-    internal fun from(savedStateHandle: SavedStateHandle): FinancialConnectionsSheetState {
-        return copy(
-            manifest = savedStateHandle.get(KEY_MANIFEST) ?: manifest,
-            authFlowActive = savedStateHandle.get(KEY_AUTHFLOW_ACTIVE) ?: authFlowActive,
-        )
-    }
+    val sessionSecret: String
+        get() = initialArgs.configuration.financialConnectionsSessionClientSecret
 
     /**
-     * Saves the persistable fields of this state that changed to the given [SavedStateHandle]
+     * Constructor used by Mavericks to build the initial state.
      */
-    internal fun to(
-        savedStateHandle: SavedStateHandle,
-        previousValue: FinancialConnectionsSheetState
-    ) {
-        if (previousValue.manifest != manifest)
-            savedStateHandle.set(KEY_MANIFEST, manifest)
-        if (previousValue.authFlowActive != authFlowActive)
-            savedStateHandle.set(KEY_AUTHFLOW_ACTIVE, authFlowActive)
-    }
-
-    companion object {
-        private const val KEY_MANIFEST = "key_manifest"
-        private const val KEY_AUTHFLOW_ACTIVE = "key_authflow_active"
-    }
+    constructor(args: FinancialConnectionsSheetActivityArgs) : this(
+        initialArgs = args
+    )
 }
 
 /**
diff --git a/financial-connections/src/main/java/com/stripe/android/financialconnections/FinancialConnectionsSheetViewModel.kt b/financial-connections/src/main/java/com/stripe/android/financialconnections/FinancialConnectionsSheetViewModel.kt
index ead38e60f32..bcc0774336d 100644
--- a/financial-connections/src/main/java/com/stripe/android/financialconnections/FinancialConnectionsSheetViewModel.kt
+++ b/financial-connections/src/main/java/com/stripe/android/financialconnections/FinancialConnectionsSheetViewModel.kt
@@ -1,13 +1,9 @@
 package com.stripe.android.financialconnections
 
-import android.app.Application
 import android.content.Intent
-import android.os.Bundle
-import androidx.lifecycle.AbstractSavedStateViewModelFactory
-import androidx.lifecycle.SavedStateHandle
-import androidx.lifecycle.ViewModel
-import androidx.lifecycle.viewModelScope
-import androidx.savedstate.SavedStateRegistryOwner
+import com.airbnb.mvrx.MavericksViewModel
+import com.airbnb.mvrx.MavericksViewModelFactory
+import com.airbnb.mvrx.ViewModelContext
 import com.stripe.android.financialconnections.FinancialConnectionsSheetViewEffect.FinishWithResult
 import com.stripe.android.financialconnections.FinancialConnectionsSheetViewEffect.OpenAuthFlowWithUrl
 import com.stripe.android.financialconnections.analytics.FinancialConnectionsEventReporter
@@ -18,13 +14,9 @@ import com.stripe.android.financialconnections.domain.FetchFinancialConnectionsS
 import com.stripe.android.financialconnections.domain.GenerateFinancialConnectionsSessionManifest
 import com.stripe.android.financialconnections.launcher.FinancialConnectionsSheetActivityArgs
 import com.stripe.android.financialconnections.launcher.FinancialConnectionsSheetActivityResult
+import com.stripe.android.financialconnections.launcher.FinancialConnectionsSheetActivityResult.Canceled
 import com.stripe.android.financialconnections.model.FinancialConnectionsSession
 import com.stripe.android.financialconnections.model.FinancialConnectionsSessionManifest
-import kotlinx.coroutines.flow.MutableSharedFlow
-import kotlinx.coroutines.flow.MutableStateFlow
-import kotlinx.coroutines.flow.SharedFlow
-import kotlinx.coroutines.flow.StateFlow
-import kotlinx.coroutines.flow.update
 import kotlinx.coroutines.launch
 import javax.inject.Inject
 import javax.inject.Named
@@ -32,25 +24,17 @@ import javax.inject.Named
 @Suppress("LongParameterList", "TooManyFunctions")
 internal class FinancialConnectionsSheetViewModel @Inject constructor(
     @Named(APPLICATION_ID) private val applicationId: String,
-    private val starterArgs: FinancialConnectionsSheetActivityArgs,
     private val generateFinancialConnectionsSessionManifest: GenerateFinancialConnectionsSessionManifest,
     private val fetchFinancialConnectionsSession: FetchFinancialConnectionsSession,
     private val fetchFinancialConnectionsSessionForToken: FetchFinancialConnectionsSessionForToken,
-    private val savedStateHandle: SavedStateHandle,
-    private val eventReporter: FinancialConnectionsEventReporter
-) : ViewModel() {
-
-    // on process recreation - restore saved fields from [SavedStateHandle].
-    private val _state = MutableStateFlow(FinancialConnectionsSheetState().from(savedStateHandle))
-    internal val state: StateFlow<FinancialConnectionsSheetState> = _state
-
-    private val _viewEffect = MutableSharedFlow<FinancialConnectionsSheetViewEffect>()
-    internal val viewEffect: SharedFlow<FinancialConnectionsSheetViewEffect> = _viewEffect
+    private val eventReporter: FinancialConnectionsEventReporter,
+    initialState: FinancialConnectionsSheetState
+) : MavericksViewModel<FinancialConnectionsSheetState>(initialState) {
 
     init {
-        eventReporter.onPresented(starterArgs.configuration)
+        eventReporter.onPresented(initialState.initialArgs.configuration)
         // avoid re-fetching manifest if already exists (this will happen on process recreations)
-        if (state.value.manifest == null) {
+        if (initialState.manifest == null) {
             fetchManifest()
         }
     }
@@ -60,16 +44,19 @@ internal class FinancialConnectionsSheetViewModel @Inject constructor(
      * as well as the success and cancel callback URLs to verify.
      */
     private fun fetchManifest() {
-        viewModelScope.launch {
-            kotlin.runCatching {
-                generateFinancialConnectionsSessionManifest(
-                    clientSecret = starterArgs.configuration.financialConnectionsSessionClientSecret,
-                    applicationId = applicationId
-                )
-            }.onFailure {
-                onFatal(it)
-            }.onSuccess {
-                openAuthFlow(it)
+        withState { state ->
+            viewModelScope.launch {
+                kotlin.runCatching {
+                    state.initialArgs.validate()
+                    generateFinancialConnectionsSessionManifest(
+                        clientSecret = state.sessionSecret,
+                        applicationId = applicationId
+                    )
+                }.onFailure {
+                    onFatal(state, it)
+                }.onSuccess {
+                    openAuthFlow(it)
+                }
             }
         }
     }
@@ -80,22 +67,24 @@ internal class FinancialConnectionsSheetViewModel @Inject constructor(
      * @param manifest the manifest containing the hosted auth flow URL to launch
      *
      */
-    private suspend fun openAuthFlow(manifest: FinancialConnectionsSessionManifest) {
+    private fun openAuthFlow(manifest: FinancialConnectionsSessionManifest) {
         // stores manifest in state for future references.
-        _state.updateAndPersist {
-            it.copy(
+        setState {
+            copy(
                 manifest = manifest,
-                authFlowActive = true
+                authFlowActive = true,
+                viewEffect = OpenAuthFlowWithUrl(manifest.hostedAuthUrl)
             )
         }
-        _viewEffect.emit(OpenAuthFlowWithUrl(manifest.hostedAuthUrl))
     }
 
     /**
      * Activity recreation changes the lifecycle order:
      *
-     * - If config change happens while in web flow: onResume -> onNewIntent -> activityResult
-     * - If no config change happens: onActivityResult -> onNewIntent -> onResume
+     * If config change happens while in web flow:
+     * - onResume -> onNewIntent -> activityResult -> onResume(again)
+     * If no config change happens:
+     * - onActivityResult -> onNewIntent -> onResume
      *
      * (note [handleOnNewIntent] will just get called if user completed the web flow and clicked
      * the deeplink that redirects back to the app)
@@ -107,8 +96,12 @@ internal class FinancialConnectionsSheetViewModel @Inject constructor(
      * @see onResume (we rely on this on regular flows)
      * @see onActivityResult (we rely on this on config changes)
      */
-    internal fun onActivityRecreated() {
-        _state.updateAndPersist { it.copy(activityRecreated = true) }
+    fun onActivityRecreated() {
+        setState {
+            copy(
+                activityRecreated = true
+            )
+        }
     }
 
     /**
@@ -117,10 +110,10 @@ internal class FinancialConnectionsSheetViewModel @Inject constructor(
      *  canceled.
      */
     internal fun onResume() {
-        if (_state.value.authFlowActive && _state.value.activityRecreated.not()) {
-            viewModelScope.launch {
-                _viewEffect.emit(FinishWithResult(FinancialConnectionsSheetActivityResult.Canceled))
-            }
+        setState {
+            if (authFlowActive && activityRecreated.not()) {
+                copy(viewEffect = FinishWithResult(Canceled))
+            } else this
         }
     }
 
@@ -130,10 +123,10 @@ internal class FinancialConnectionsSheetViewModel @Inject constructor(
      * the back button or closed the custom tabs UI, so return result as canceled.
      */
     internal fun onActivityResult() {
-        if (_state.value.authFlowActive && _state.value.activityRecreated) {
-            viewModelScope.launch {
-                _viewEffect.emit(FinishWithResult(FinancialConnectionsSheetActivityResult.Canceled))
-            }
+        setState {
+            if (authFlowActive && activityRecreated) {
+                copy(viewEffect = FinishWithResult(Canceled))
+            } else this
         }
     }
 
@@ -144,16 +137,16 @@ internal class FinancialConnectionsSheetViewModel @Inject constructor(
      * fetch the updated [FinancialConnectionsSession] model from the API
      * and return it back as a [Completed] result.
      */
-    private fun fetchFinancialConnectionsSession() {
+    private fun fetchFinancialConnectionsSession(state: FinancialConnectionsSheetState) {
         viewModelScope.launch {
             kotlin.runCatching {
-                fetchFinancialConnectionsSession(starterArgs.configuration.financialConnectionsSessionClientSecret)
+                fetchFinancialConnectionsSession(state.sessionSecret)
             }.onSuccess {
                 val result = FinancialConnectionsSheetActivityResult.Completed(it)
-                eventReporter.onResult(starterArgs.configuration, result)
-                _viewEffect.emit(FinishWithResult(result))
+                eventReporter.onResult(state.initialArgs.configuration, result)
+                setState { copy(viewEffect = FinishWithResult(result)) }
             }.onFailure {
-                onFatal(it)
+                onFatal(state, it)
             }
         }
     }
@@ -165,18 +158,16 @@ internal class FinancialConnectionsSheetViewModel @Inject constructor(
      * fetch the updated [FinancialConnectionsSession] and the generated [com.stripe.android.model.Token]
      * and return it back as a [Completed] result.
      */
-    private fun fetchFinancialConnectionsSessionForToken() {
+    private fun fetchFinancialConnectionsSessionForToken(state: FinancialConnectionsSheetState) {
         viewModelScope.launch {
             kotlin.runCatching {
-                fetchFinancialConnectionsSessionForToken(
-                    clientSecret = starterArgs.configuration.financialConnectionsSessionClientSecret
-                )
+                fetchFinancialConnectionsSessionForToken(clientSecret = state.sessionSecret)
             }.onSuccess { (las, token) ->
                 val result = FinancialConnectionsSheetActivityResult.Completed(las, token)
-                eventReporter.onResult(starterArgs.configuration, result)
-                _viewEffect.emit(FinishWithResult(result))
+                eventReporter.onResult(state.initialArgs.configuration, result)
+                setState { copy(viewEffect = FinishWithResult(result)) }
             }.onFailure {
-                onFatal(it)
+                onFatal(state, it)
             }
         }
     }
@@ -187,10 +178,10 @@ internal class FinancialConnectionsSheetViewModel @Inject constructor(
      *
      * @param throwable the error encountered during the [FinancialConnectionsSheet] auth flow
      */
-    private suspend fun onFatal(throwable: Throwable) {
+    private fun onFatal(state: FinancialConnectionsSheetState, throwable: Throwable) {
         val result = FinancialConnectionsSheetActivityResult.Failed(throwable)
-        eventReporter.onResult(starterArgs.configuration, result)
-        _viewEffect.emit(FinishWithResult(result))
+        eventReporter.onResult(state.initialArgs.configuration, result)
+        setState { copy(viewEffect = FinishWithResult(result)) }
     }
 
     /**
@@ -198,10 +189,10 @@ internal class FinancialConnectionsSheetViewModel @Inject constructor(
      * or clicking a cancel link within the hosted auth flow and the activity received the canceled
      * URL callback, notify the [FinancialConnectionsSheetResultCallback] with [Canceled]
      */
-    private suspend fun onUserCancel() {
-        val result = FinancialConnectionsSheetActivityResult.Canceled
-        eventReporter.onResult(starterArgs.configuration, result)
-        _viewEffect.emit(FinishWithResult(result))
+    private fun onUserCancel(state: FinancialConnectionsSheetState) {
+        val result = Canceled
+        eventReporter.onResult(state.initialArgs.configuration, result)
+        setState { copy(viewEffect = FinishWithResult(result)) }
     }
 
     /**
@@ -213,54 +204,41 @@ internal class FinancialConnectionsSheetViewModel @Inject constructor(
      * @param intent the new intent with the redirect URL in the intent data
      */
     internal fun handleOnNewIntent(intent: Intent?) {
-        _state.updateAndPersist { it.copy(authFlowActive = false) }
-        viewModelScope.launch {
-            val manifest = _state.value.manifest
+        setState { copy(authFlowActive = false) }
+        withState { state ->
             when (intent?.data.toString()) {
-                manifest?.successUrl -> when (starterArgs) {
-                    is FinancialConnectionsSheetActivityArgs.ForData -> fetchFinancialConnectionsSession()
-                    is FinancialConnectionsSheetActivityArgs.ForToken -> fetchFinancialConnectionsSessionForToken()
+                state.manifest?.successUrl -> when (state.initialArgs) {
+                    is FinancialConnectionsSheetActivityArgs.ForData ->
+                        fetchFinancialConnectionsSession(state)
+                    is FinancialConnectionsSheetActivityArgs.ForToken ->
+                        fetchFinancialConnectionsSessionForToken(state)
                 }
-                manifest?.cancelUrl -> onUserCancel()
-                else -> onFatal(Exception("Error processing FinancialConnectionsSheet intent"))
+                state.manifest?.cancelUrl -> onUserCancel(state)
+                else ->
+                    onFatal(state, Exception("Error processing FinancialConnectionsSheet intent"))
             }
         }
     }
 
-    /**
-     * Updates state AND saves persistable fields into [SavedStateHandle]
-     */
-    private inline fun MutableStateFlow<FinancialConnectionsSheetState>.updateAndPersist(
-        function: (FinancialConnectionsSheetState) -> FinancialConnectionsSheetState
-    ) {
-        val previousValue = value
-        update(function)
-        value.to(savedStateHandle, previousValue)
+    fun onViewEffectLaunched() {
+        setState { copy(viewEffect = null) }
     }
 
-    class Factory(
-        private val applicationSupplier: () -> Application,
-        private val starterArgsSupplier: () -> FinancialConnectionsSheetActivityArgs,
-        owner: SavedStateRegistryOwner,
-        defaultArgs: Bundle? = null
-    ) : AbstractSavedStateViewModelFactory(owner, defaultArgs) {
+    companion object :
+        MavericksViewModelFactory<FinancialConnectionsSheetViewModel, FinancialConnectionsSheetState> {
 
-        @Suppress("UNCHECKED_CAST")
-        override fun <T : ViewModel> create(
-            key: String,
-            modelClass: Class<T>,
-            savedStateHandle: SavedStateHandle
-        ): T {
+        override fun create(
+            viewModelContext: ViewModelContext,
+            state: FinancialConnectionsSheetState
+        ): FinancialConnectionsSheetViewModel {
             return DaggerFinancialConnectionsSheetComponent
                 .builder()
-                .application(applicationSupplier())
-                .savedStateHandle(savedStateHandle)
-                .internalArgs(starterArgsSupplier())
-                .build().viewModel as T
+                .application(viewModelContext.app())
+                .initialState(state)
+                .internalArgs(state.initialArgs)
+                .build().viewModel
         }
-    }
 
-    internal companion object {
         internal const val MAX_ACCOUNTS = 100
     }
 }
diff --git a/financial-connections/src/main/java/com/stripe/android/financialconnections/appinitializer/FinancialConnectionsInitializer.kt b/financial-connections/src/main/java/com/stripe/android/financialconnections/appinitializer/FinancialConnectionsInitializer.kt
new file mode 100644
index 00000000000..3d32fc384e4
--- /dev/null
+++ b/financial-connections/src/main/java/com/stripe/android/financialconnections/appinitializer/FinancialConnectionsInitializer.kt
@@ -0,0 +1,41 @@
+package com.stripe.android.financialconnections.appinitializer
+
+import android.content.ContentProvider
+import android.content.ContentValues
+import android.database.Cursor
+import android.net.Uri
+import com.airbnb.mvrx.Mavericks
+
+internal class FinancialConnectionsInitializer : ContentProvider() {
+    override fun onCreate(): Boolean {
+        Mavericks.initialize(context = requireNotNull(context))
+        return true
+    }
+
+    override fun query(
+        uri: Uri,
+        projection: Array<String>?,
+        selection: String?,
+        selectionArgs: Array<String>?,
+        sortOrder: String?
+    ): Cursor? {
+        return null
+    }
+
+    override fun getType(uri: Uri): String? = null
+
+    override fun insert(uri: Uri, values: ContentValues?): Uri? = null
+
+    override fun delete(
+        uri: Uri,
+        selection: String?,
+        selectionArgs: Array<String>?
+    ): Int = 0
+
+    override fun update(
+        uri: Uri,
+        values: ContentValues?,
+        selection: String?,
+        selectionArgs: Array<String>?
+    ): Int = 0
+}
diff --git a/financial-connections/src/main/java/com/stripe/android/financialconnections/di/FinancialConnectionsSheetComponent.kt b/financial-connections/src/main/java/com/stripe/android/financialconnections/di/FinancialConnectionsSheetComponent.kt
index ea7c52b8020..63e36397a04 100644
--- a/financial-connections/src/main/java/com/stripe/android/financialconnections/di/FinancialConnectionsSheetComponent.kt
+++ b/financial-connections/src/main/java/com/stripe/android/financialconnections/di/FinancialConnectionsSheetComponent.kt
@@ -1,9 +1,9 @@
 package com.stripe.android.financialconnections.di
 
 import android.app.Application
-import androidx.lifecycle.SavedStateHandle
 import com.stripe.android.core.injection.CoroutineContextModule
 import com.stripe.android.core.injection.LoggingModule
+import com.stripe.android.financialconnections.FinancialConnectionsSheetState
 import com.stripe.android.financialconnections.FinancialConnectionsSheetViewModel
 import com.stripe.android.financialconnections.launcher.FinancialConnectionsSheetActivityArgs
 import dagger.BindsInstance
@@ -21,15 +21,13 @@ import javax.inject.Singleton
 internal interface FinancialConnectionsSheetComponent {
     val viewModel: FinancialConnectionsSheetViewModel
 
-    fun inject(factory: FinancialConnectionsSheetViewModel.Factory)
-
     @Component.Builder
     interface Builder {
         @BindsInstance
         fun application(application: Application): Builder
 
         @BindsInstance
-        fun savedStateHandle(savedStateHandle: SavedStateHandle): Builder
+        fun initialState(initialState: FinancialConnectionsSheetState): Builder
 
         @BindsInstance
         fun internalArgs(financialConnectionsSheetActivityArgs: FinancialConnectionsSheetActivityArgs): Builder
diff --git a/financial-connections/src/main/java/com/stripe/android/financialconnections/launcher/FinancialConnectionsSheetActivityArgs.kt b/financial-connections/src/main/java/com/stripe/android/financialconnections/launcher/FinancialConnectionsSheetActivityArgs.kt
index 75418e77d4a..e51ae095d42 100644
--- a/financial-connections/src/main/java/com/stripe/android/financialconnections/launcher/FinancialConnectionsSheetActivityArgs.kt
+++ b/financial-connections/src/main/java/com/stripe/android/financialconnections/launcher/FinancialConnectionsSheetActivityArgs.kt
@@ -2,6 +2,7 @@ package com.stripe.android.financialconnections.launcher
 
 import android.content.Intent
 import android.os.Parcelable
+import com.airbnb.mvrx.Mavericks
 import com.stripe.android.financialconnections.FinancialConnectionsSheet
 import kotlinx.parcelize.Parcelize
 import java.security.InvalidParameterException
@@ -39,11 +40,8 @@ internal sealed class FinancialConnectionsSheetActivityArgs constructor(
     }
 
     companion object {
-        const val EXTRA_ARGS =
-            "com.stripe.android.financialconnections.ConnectionsSheetContract.extra_args"
-
         internal fun fromIntent(intent: Intent): FinancialConnectionsSheetActivityArgs? {
-            return intent.getParcelableExtra(EXTRA_ARGS)
+            return intent.getParcelableExtra(Mavericks.KEY_ARG)
         }
     }
 }
diff --git a/financial-connections/src/main/java/com/stripe/android/financialconnections/launcher/FinancialConnectionsSheetForDataContract.kt b/financial-connections/src/main/java/com/stripe/android/financialconnections/launcher/FinancialConnectionsSheetForDataContract.kt
index a19defdb507..ab239c1c710 100644
--- a/financial-connections/src/main/java/com/stripe/android/financialconnections/launcher/FinancialConnectionsSheetForDataContract.kt
+++ b/financial-connections/src/main/java/com/stripe/android/financialconnections/launcher/FinancialConnectionsSheetForDataContract.kt
@@ -3,9 +3,9 @@ package com.stripe.android.financialconnections.launcher
 import android.content.Context
 import android.content.Intent
 import androidx.activity.result.contract.ActivityResultContract
+import com.airbnb.mvrx.Mavericks
 import com.stripe.android.financialconnections.FinancialConnectionsSheetActivity
 import com.stripe.android.financialconnections.FinancialConnectionsSheetResult
-import com.stripe.android.financialconnections.launcher.FinancialConnectionsSheetActivityArgs.Companion.EXTRA_ARGS
 import com.stripe.android.financialconnections.launcher.FinancialConnectionsSheetActivityResult.Companion.EXTRA_RESULT
 
 internal class FinancialConnectionsSheetForDataContract :
@@ -15,10 +15,8 @@ internal class FinancialConnectionsSheetForDataContract :
         context: Context,
         input: FinancialConnectionsSheetActivityArgs.ForData
     ): Intent {
-        return Intent(context, FinancialConnectionsSheetActivity::class.java).putExtra(
-            EXTRA_ARGS,
-            input
-        )
+        return Intent(context, FinancialConnectionsSheetActivity::class.java)
+            .putExtra(Mavericks.KEY_ARG, input)
     }
 
     override fun parseResult(
diff --git a/financial-connections/src/main/java/com/stripe/android/financialconnections/launcher/FinancialConnectionsSheetForTokenContract.kt b/financial-connections/src/main/java/com/stripe/android/financialconnections/launcher/FinancialConnectionsSheetForTokenContract.kt
index 5f3d3ed3830..f9afdf5a39e 100644
--- a/financial-connections/src/main/java/com/stripe/android/financialconnections/launcher/FinancialConnectionsSheetForTokenContract.kt
+++ b/financial-connections/src/main/java/com/stripe/android/financialconnections/launcher/FinancialConnectionsSheetForTokenContract.kt
@@ -3,9 +3,9 @@ package com.stripe.android.financialconnections.launcher
 import android.content.Context
 import android.content.Intent
 import androidx.activity.result.contract.ActivityResultContract
+import com.airbnb.mvrx.Mavericks
 import com.stripe.android.financialconnections.FinancialConnectionsSheetActivity
 import com.stripe.android.financialconnections.FinancialConnectionsSheetForTokenResult
-import com.stripe.android.financialconnections.launcher.FinancialConnectionsSheetActivityArgs.Companion.EXTRA_ARGS
 import com.stripe.android.financialconnections.launcher.FinancialConnectionsSheetActivityResult.Companion.EXTRA_RESULT
 
 internal class FinancialConnectionsSheetForTokenContract :
@@ -15,10 +15,8 @@ internal class FinancialConnectionsSheetForTokenContract :
         context: Context,
         input: FinancialConnectionsSheetActivityArgs.ForToken
     ): Intent {
-        return Intent(context, FinancialConnectionsSheetActivity::class.java).putExtra(
-            EXTRA_ARGS,
-            input
-        )
+        return Intent(context, FinancialConnectionsSheetActivity::class.java)
+            .putExtra(Mavericks.KEY_ARG, input)
     }
 
     override fun parseResult(
diff --git a/financial-connections/src/test/java/com/stripe/android/financialconnections/FinancialConnectionsSheetActivityTest.kt b/financial-connections/src/test/java/com/stripe/android/financialconnections/FinancialConnectionsSheetActivityTest.kt
deleted file mode 100644
index fae54efc683..00000000000
--- a/financial-connections/src/test/java/com/stripe/android/financialconnections/FinancialConnectionsSheetActivityTest.kt
+++ /dev/null
@@ -1,161 +0,0 @@
-package com.stripe.android.financialconnections
-
-import android.content.Context
-import android.content.Intent
-import android.net.Uri
-import androidx.browser.customtabs.CustomTabsIntent
-import androidx.browser.customtabs.CustomTabsIntent.SHARE_STATE_OFF
-import androidx.lifecycle.SavedStateHandle
-import androidx.test.core.app.ApplicationProvider
-import com.google.common.truth.Truth.assertThat
-import com.stripe.android.financialconnections.launcher.FinancialConnectionsSheetActivityArgs
-import com.stripe.android.financialconnections.launcher.FinancialConnectionsSheetForDataContract
-import com.stripe.android.financialconnections.utils.InjectableActivityScenario
-import com.stripe.android.financialconnections.utils.TestUtils.viewModelFactoryFor
-import com.stripe.android.financialconnections.utils.injectableActivityScenario
-import kotlinx.coroutines.ExperimentalCoroutinesApi
-import kotlinx.coroutines.flow.MutableSharedFlow
-import kotlinx.coroutines.flow.MutableStateFlow
-import kotlinx.coroutines.runBlocking
-import kotlinx.coroutines.test.TestScope
-import kotlinx.coroutines.test.runTest
-import org.junit.Test
-import org.junit.runner.RunWith
-import org.mockito.ArgumentCaptor
-import org.mockito.kotlin.doReturn
-import org.mockito.kotlin.mock
-import org.mockito.kotlin.verify
-import org.robolectric.RobolectricTestRunner
-import org.robolectric.Shadows.shadowOf
-
-@RunWith(RobolectricTestRunner::class)
-@ExperimentalCoroutinesApi
-class FinancialConnectionsSheetActivityTest {
-
-    private val context = ApplicationProvider.getApplicationContext<Context>()
-    private val contract = FinancialConnectionsSheetForDataContract()
-    private val configuration = FinancialConnectionsSheet.Configuration(
-        ApiKeyFixtures.DEFAULT_FINANCIAL_CONNECTIONS_SESSION_SECRET,
-        ApiKeyFixtures.DEFAULT_PUBLISHABLE_KEY
-    )
-    private val args = FinancialConnectionsSheetActivityArgs.ForData(configuration)
-    private val intent = contract.createIntent(context, args)
-    private val viewModel = createViewModel()
-
-    private fun createViewModel(): FinancialConnectionsSheetViewModel = runBlocking {
-        FinancialConnectionsSheetViewModel(
-            applicationId = "com.example.test",
-            starterArgs = args,
-            savedStateHandle = SavedStateHandle(),
-            generateFinancialConnectionsSessionManifest = mock(),
-            fetchFinancialConnectionsSession = mock(),
-            fetchFinancialConnectionsSessionForToken = mock(),
-            eventReporter = mock()
-        )
-    }
-
-    private fun activityScenario(
-        viewModel: FinancialConnectionsSheetViewModel = this.viewModel
-    ): InjectableActivityScenario<FinancialConnectionsSheetActivity> {
-        return injectableActivityScenario {
-            injectActivity {
-                viewModelFactory = viewModelFactoryFor(viewModel)
-            }
-        }
-    }
-
-    @Test
-    fun `onCreate() with no args returns Failed result`() {
-        val scenario = activityScenario()
-        val intent = Intent(context, FinancialConnectionsSheetActivity::class.java)
-        scenario.launch(intent)
-        assertThat(
-            contract.parseResult(
-                scenario.getResult().resultCode,
-                scenario.getResult().resultData
-            )
-        ).isInstanceOf(
-            FinancialConnectionsSheetResult.Failed::class.java
-        )
-    }
-
-    @Test
-    fun `onCreate() with invalid args returns Failed result`() {
-        val scenario = activityScenario()
-        val configuration = FinancialConnectionsSheet.Configuration("", "")
-        val args = FinancialConnectionsSheetActivityArgs.ForData(configuration)
-        val intent = contract.createIntent(context, args)
-        scenario.launch(intent)
-        assertThat(
-            contract.parseResult(
-                scenario.getResult().resultCode,
-                scenario.getResult().resultData
-            )
-        ).isInstanceOf(
-            FinancialConnectionsSheetResult.Failed::class.java
-        )
-    }
-
-    @Test
-    fun `viewEffect - OpenAuthFlowWithUrl opens Chrome Custom Tab intent`() {
-        val chromeCustomTabUrl = "www.authflow.com"
-        val viewEffects = MutableSharedFlow<FinancialConnectionsSheetViewEffect>()
-        val mockViewModel = mock<FinancialConnectionsSheetViewModel> {
-            on { viewEffect } doReturn viewEffects
-        }
-        activityScenario(mockViewModel).launch(intent).suspendOnActivity {
-            viewEffects.emit(FinancialConnectionsSheetViewEffect.OpenAuthFlowWithUrl(chromeCustomTabUrl))
-            val intent: Intent = shadowOf(it).nextStartedActivity
-            assertThat(intent.getIntExtra(CustomTabsIntent.EXTRA_SHARE_STATE, 0)).isEqualTo(
-                SHARE_STATE_OFF
-            )
-        }
-    }
-
-    @Test
-    fun `onNewIntent() calls view model handleOnNewIntent()`() {
-        val mockViewModel = mock<FinancialConnectionsSheetViewModel>()
-        val scenario = activityScenario(mockViewModel)
-        scenario.launch(intent).suspendOnActivity {
-            val newIntent = Intent(Intent.ACTION_VIEW)
-            newIntent.data = Uri.parse(ApiKeyFixtures.SUCCESS_URL)
-            it.onNewIntent(newIntent)
-            val argument: ArgumentCaptor<Intent> = ArgumentCaptor.forClass(Intent::class.java)
-            verify(mockViewModel).handleOnNewIntent(argument.capture())
-            assertThat(argument.value.data.toString()).isEqualTo(ApiKeyFixtures.SUCCESS_URL)
-        }
-    }
-
-    @Test
-    fun `onBackPressed() cancels connection sheet`() {
-        val mockViewModel = mock<FinancialConnectionsSheetViewModel> {
-            on { state } doReturn MutableStateFlow(FinancialConnectionsSheetState(authFlowActive = true))
-        }
-        val scenario = activityScenario(mockViewModel)
-        scenario.launch(intent).suspendOnActivity {
-            it.onBackPressed()
-        }
-        assertThat(
-            contract.parseResult(
-                scenario.getResult().resultCode,
-                scenario.getResult().resultData
-            )
-        ).isInstanceOf(
-            FinancialConnectionsSheetResult.Canceled::class.java
-        )
-    }
-
-    /**
-     * When [InjectableActivityScenario.onActivity] triggers,
-     * runs the given block within the provided [TestScope].
-     */
-    private fun InjectableActivityScenario<FinancialConnectionsSheetActivity>.suspendOnActivity(
-        block: suspend TestScope.(FinancialConnectionsSheetActivity) -> Unit
-    ) {
-        this.onActivity {
-            runTest {
-                block(this, it)
-            }
-        }
-    }
-}
diff --git a/financial-connections/src/test/java/com/stripe/android/financialconnections/FinancialConnectionsSheetViewModelTest.kt b/financial-connections/src/test/java/com/stripe/android/financialconnections/FinancialConnectionsSheetViewModelTest.kt
index dd534623415..ab4196a7fe5 100644
--- a/financial-connections/src/test/java/com/stripe/android/financialconnections/FinancialConnectionsSheetViewModelTest.kt
+++ b/financial-connections/src/test/java/com/stripe/android/financialconnections/FinancialConnectionsSheetViewModelTest.kt
@@ -2,9 +2,9 @@ package com.stripe.android.financialconnections
 
 import android.content.Intent
 import android.net.Uri
-import androidx.lifecycle.SavedStateHandle
 import androidx.test.ext.junit.runners.AndroidJUnit4
-import app.cash.turbine.test
+import com.airbnb.mvrx.test.MvRxTestRule
+import com.airbnb.mvrx.withState
 import com.google.common.truth.Truth.assertThat
 import com.stripe.android.core.exception.APIException
 import com.stripe.android.financialconnections.FinancialConnectionsSheetViewEffect.FinishWithResult
@@ -13,13 +13,17 @@ import com.stripe.android.financialconnections.domain.FetchFinancialConnectionsS
 import com.stripe.android.financialconnections.domain.FetchFinancialConnectionsSessionForToken
 import com.stripe.android.financialconnections.domain.GenerateFinancialConnectionsSessionManifest
 import com.stripe.android.financialconnections.launcher.FinancialConnectionsSheetActivityArgs
-import com.stripe.android.financialconnections.launcher.FinancialConnectionsSheetActivityResult
+import com.stripe.android.financialconnections.launcher.FinancialConnectionsSheetActivityResult.Canceled
+import com.stripe.android.financialconnections.launcher.FinancialConnectionsSheetActivityResult.Completed
+import com.stripe.android.financialconnections.launcher.FinancialConnectionsSheetActivityResult.Failed
 import com.stripe.android.financialconnections.model.FinancialConnectionsAccountFixtures
 import com.stripe.android.financialconnections.model.FinancialConnectionsAccountList
 import com.stripe.android.financialconnections.model.FinancialConnectionsSession
 import com.stripe.android.financialconnections.model.FinancialConnectionsSessionManifest
 import kotlinx.coroutines.ExperimentalCoroutinesApi
+import kotlinx.coroutines.test.UnconfinedTestDispatcher
 import kotlinx.coroutines.test.runTest
+import org.junit.Rule
 import org.junit.Test
 import org.junit.runner.RunWith
 import org.mockito.kotlin.any
@@ -33,6 +37,9 @@ import org.mockito.kotlin.whenever
 @RunWith(AndroidJUnit4::class)
 class FinancialConnectionsSheetViewModelTest {
 
+    @get:Rule
+    val mvrxRule = MvRxTestRule(testDispatcher = UnconfinedTestDispatcher())
+
     private val eventReporter = mock<FinancialConnectionsEventReporter>()
     private val configuration = FinancialConnectionsSheet.Configuration(
         ApiKeyFixtures.DEFAULT_FINANCIAL_CONNECTIONS_SESSION_SECRET,
@@ -44,23 +51,24 @@ class FinancialConnectionsSheetViewModelTest {
         ApiKeyFixtures.CANCEL_URL
     )
     private val fetchFinancialConnectionsSession = mock<FetchFinancialConnectionsSession>()
-    private val fetchFinancialConnectionsSessionForToken = mock<FetchFinancialConnectionsSessionForToken>()
-    private val generateFinancialConnectionsSessionManifest = mock<GenerateFinancialConnectionsSessionManifest>()
+    private val fetchFinancialConnectionsSessionForToken =
+        mock<FetchFinancialConnectionsSessionForToken>()
+    private val generateFinancialConnectionsSessionManifest =
+        mock<GenerateFinancialConnectionsSessionManifest>()
+    private val defaultInitialState = FinancialConnectionsSheetState(
+        FinancialConnectionsSheetActivityArgs.ForData(configuration)
+    )
 
     @Test
     fun `init - eventReporter fires onPresented`() {
-        createViewModel(configuration)
-        verify(eventReporter)
-            .onPresented(configuration)
+        createViewModel(defaultInitialState)
+        verify(eventReporter).onPresented(configuration)
     }
 
     @Test
-    fun `init - if manifest not restored from SavedStateHandle, fetchManifest triggered`() =
+    fun `init - if manifest not present in initial state, fetchManifest triggered`() =
         runTest {
-            createViewModel(
-                configuration = configuration,
-                savedStateHandle = SavedStateHandle()
-            )
+            createViewModel(defaultInitialState)
 
             verify(generateFinancialConnectionsSessionManifest).invoke(any(), any())
         }
@@ -68,10 +76,7 @@ class FinancialConnectionsSheetViewModelTest {
     @Test
     fun `init - if manifest restored from SavedStateHandle, fetchManifest not triggered`() {
         runTest {
-            createViewModel(
-                configuration = configuration,
-                savedStateHandle = SavedStateHandle().also { it.set("key_manifest", manifest) }
-            )
+            createViewModel(defaultInitialState.copy(manifest = manifest))
 
             verifyNoInteractions(generateFinancialConnectionsSessionManifest)
         }
@@ -81,14 +86,14 @@ class FinancialConnectionsSheetViewModelTest {
     fun `handleOnNewIntent - wrong intent should fire analytics event and set fail result`() {
         runTest {
             // Given
-            val viewModel = createViewModel(configuration)
+            val viewModel = createViewModel(defaultInitialState)
 
             // When
             viewModel.handleOnNewIntent(Intent("error_url"))
 
             // Then
             verify(eventReporter)
-                .onResult(eq(configuration), any<FinancialConnectionsSheetActivityResult.Failed>())
+                .onResult(eq(configuration), any<Failed>())
         }
     }
 
@@ -97,7 +102,7 @@ class FinancialConnectionsSheetViewModelTest {
         runTest {
             // Given
             whenever(generateFinancialConnectionsSessionManifest(any(), any())).thenReturn(manifest)
-            val viewModel = createViewModel(configuration)
+            val viewModel = createViewModel(defaultInitialState)
             val cancelIntent = cancelIntent()
 
             // When
@@ -106,7 +111,7 @@ class FinancialConnectionsSheetViewModelTest {
 
             // Then
             verify(eventReporter)
-                .onResult(configuration, FinancialConnectionsSheetActivityResult.Canceled)
+                .onResult(configuration, Canceled)
         }
     }
 
@@ -115,36 +120,35 @@ class FinancialConnectionsSheetViewModelTest {
         runTest {
             // Given
             whenever(generateFinancialConnectionsSessionManifest(any(), any())).thenReturn(manifest)
-            val viewModel = createViewModel(configuration)
-            viewModel.viewEffect.test {
-                // When
-                // end auth flow
-                viewModel.handleOnNewIntent(cancelIntent())
-
-                // Then
-                assertThat(viewModel.state.value.authFlowActive).isFalse()
-                assertThat(FinishWithResult(FinancialConnectionsSheetActivityResult.Canceled)).isEqualTo(
-                    awaitItem()
-                )
+            val viewModel = createViewModel(defaultInitialState)
+
+            // When
+            // end auth flow
+            viewModel.handleOnNewIntent(cancelIntent())
+
+            // Then
+            withState(viewModel) {
+                assertThat(it.authFlowActive).isFalse()
+                assertThat(it.viewEffect).isEqualTo(FinishWithResult(Canceled))
             }
         }
 
     @Test
     fun `handleOnNewIntent - when intent with unknown received, then finish with Result#Failed`() =
         runTest {
-            val viewModel = createViewModel(configuration)
-            viewModel.viewEffect.test {
-                // Given
-                val errorIntent = Intent()
-
-                // When
-                // end auth flow
-                viewModel.handleOnNewIntent(errorIntent)
-
-                // Then
-                assertThat(viewModel.state.value.authFlowActive).isFalse()
-                val viewEffect = awaitItem() as FinishWithResult
-                assertThat(viewEffect.result).isInstanceOf(FinancialConnectionsSheetActivityResult.Failed::class.java)
+            // Given
+            val viewModel = createViewModel(defaultInitialState)
+            val errorIntent = Intent()
+
+            // When
+            // end auth flow
+            viewModel.handleOnNewIntent(errorIntent)
+
+            // Then
+            withState(viewModel) {
+                assertThat(it.authFlowActive).isFalse()
+                val viewEffect = it.viewEffect as FinishWithResult
+                assertThat(viewEffect.result).isInstanceOf(Failed::class.java)
             }
         }
 
@@ -156,22 +160,17 @@ class FinancialConnectionsSheetViewModelTest {
             whenever(generateFinancialConnectionsSessionManifest(any(), any())).thenReturn(manifest)
             whenever(fetchFinancialConnectionsSession(any())).thenReturn(expectedSession)
 
-            val viewModel = createViewModel(configuration)
-            viewModel.viewEffect.test {
-
-                // When
-                // end auth flow
-                viewModel.handleOnNewIntent(successIntent())
-
-                // Then
-                assertThat(viewModel.state.value.authFlowActive).isFalse()
-                assertThat(awaitItem()).isEqualTo(
-                    FinishWithResult(
-                        result = FinancialConnectionsSheetActivityResult.Completed(
-                            expectedSession
-                        )
-                    )
-                )
+            val viewModel = createViewModel(defaultInitialState)
+
+            // When
+            // end auth flow
+            viewModel.handleOnNewIntent(successIntent())
+
+            // Then
+            withState(viewModel) {
+                assertThat(it.authFlowActive).isFalse()
+                val viewEffect = it.viewEffect as FinishWithResult
+                assertThat(viewEffect.result).isEqualTo(Completed(expectedSession))
             }
         }
 
@@ -182,17 +181,17 @@ class FinancialConnectionsSheetViewModelTest {
             val apiException = APIException()
             whenever(generateFinancialConnectionsSessionManifest(any(), any())).thenReturn(manifest)
             whenever(fetchFinancialConnectionsSession.invoke(any())).thenAnswer { throw apiException }
-            val viewModel = createViewModel(configuration)
-            viewModel.viewEffect.test {
-                // When
-                // end auth flow
-                viewModel.handleOnNewIntent(successIntent())
-
-                // Then
-                assertThat(viewModel.state.value.authFlowActive).isFalse()
-                assertThat(awaitItem()).isEqualTo(
-                    FinishWithResult(FinancialConnectionsSheetActivityResult.Failed(apiException))
-                )
+            val viewModel = createViewModel(defaultInitialState)
+
+            // When
+            // end auth flow
+            viewModel.handleOnNewIntent(successIntent())
+
+            // Then
+            withState(viewModel) {
+                assertThat(it.authFlowActive).isFalse()
+                val viewEffect = it.viewEffect as FinishWithResult
+                assertThat(viewEffect.result).isEqualTo(Failed(apiException))
             }
         }
 
@@ -202,17 +201,17 @@ class FinancialConnectionsSheetViewModelTest {
             // Given
             whenever(generateFinancialConnectionsSessionManifest(any(), any())).thenReturn(manifest)
             whenever(fetchFinancialConnectionsSession(any())).thenAnswer { throw APIException() }
-            val viewModel = createViewModel(configuration)
-            viewModel.viewEffect.test {
-                // When
-                // end auth flow
-                viewModel.handleOnNewIntent(successIntent())
-
-                // Then
-                assertThat(viewModel.state.value.authFlowActive).isFalse()
-                assertThat(awaitItem()).isEqualTo(
-                    FinishWithResult(FinancialConnectionsSheetActivityResult.Failed(APIException()))
-                )
+            val viewModel = createViewModel(defaultInitialState)
+            // When
+            // end auth flow
+            viewModel.handleOnNewIntent(successIntent())
+
+            // Then
+            // Then
+            withState(viewModel) {
+                assertThat(it.authFlowActive).isFalse()
+                val viewEffect = it.viewEffect as FinishWithResult
+                assertThat(viewEffect.result).isEqualTo(Failed(APIException()))
             }
         }
 
@@ -220,15 +219,18 @@ class FinancialConnectionsSheetViewModelTest {
     fun `onResume - when flow is still active and no config changes, finish with Result#Cancelled`() {
         runTest {
             // Given
-            val viewModel = createViewModel(configuration)
-            viewModel.viewEffect.test {
-                // When
-                // end auth flow (activity resumed without new intent received)
-                viewModel.onResume()
-
-                // Then
-                assertThat(viewModel.state.value.authFlowActive).isTrue()
-                assertThat(awaitItem()).isEqualTo(FinishWithResult(FinancialConnectionsSheetActivityResult.Canceled))
+            whenever(generateFinancialConnectionsSessionManifest(any(), any())).thenReturn(manifest)
+            val viewModel = createViewModel(defaultInitialState)
+
+            // When
+            // end auth flow (activity resumed without new intent received)
+            viewModel.onResume()
+
+            // Then
+            withState(viewModel) {
+                assertThat(it.authFlowActive).isTrue()
+                val viewEffect = it.viewEffect as FinishWithResult
+                assertThat(viewEffect.result).isEqualTo(Canceled)
             }
         }
     }
@@ -237,17 +239,24 @@ class FinancialConnectionsSheetViewModelTest {
     fun `onActivityResult - when flow is still active and config changed, finish with Result#Cancelled`() {
         runTest {
             // Given
-            val viewModel = createViewModel(configuration)
-            viewModel.viewEffect.test {
-                // When
-                // configuration changes, changing lifecycle flow.
-                viewModel.onActivityRecreated()
-                // auth flow ends (activity received result without new intent received)
-                viewModel.onActivityResult()
-
-                // Then
-                assertThat(viewModel.state.value.authFlowActive).isTrue()
-                assertThat(awaitItem()).isEqualTo(FinishWithResult(FinancialConnectionsSheetActivityResult.Canceled))
+            val viewModel = createViewModel(
+                defaultInitialState.copy(
+                    manifest = manifest,
+                    authFlowActive = true
+                )
+            )
+
+            // When
+            // simulate a config change
+            viewModel.onActivityRecreated()
+            // auth flow ends (activity received result without new intent received)
+            viewModel.onActivityResult()
+
+            // Then
+            withState(viewModel) {
+                assertThat(it.authFlowActive).isTrue()
+                val viewEffect = it.viewEffect as FinishWithResult
+                assertThat(viewEffect.result).isEqualTo(Canceled)
             }
         }
     }
@@ -259,10 +268,10 @@ class FinancialConnectionsSheetViewModelTest {
             whenever(generateFinancialConnectionsSessionManifest(any(), any())).thenReturn(manifest)
 
             // When
-            val viewModel = createViewModel(configuration)
+            val viewModel = createViewModel(defaultInitialState)
 
             // Then
-            assertThat(viewModel.state.value.manifest).isEqualTo(manifest)
+            withState(viewModel) { assertThat(it.manifest).isEqualTo(manifest) }
         }
     }
 
@@ -291,14 +300,11 @@ class FinancialConnectionsSheetViewModelTest {
     )
 
     private fun createViewModel(
-        configuration: FinancialConnectionsSheet.Configuration,
-        savedStateHandle: SavedStateHandle = SavedStateHandle()
+        initialState: FinancialConnectionsSheetState,
     ): FinancialConnectionsSheetViewModel {
-        val args = FinancialConnectionsSheetActivityArgs.ForData(configuration)
         return FinancialConnectionsSheetViewModel(
             applicationId = "com.example.app",
-            starterArgs = args,
-            savedStateHandle = savedStateHandle,
+            initialState = initialState,
             generateFinancialConnectionsSessionManifest = generateFinancialConnectionsSessionManifest,
             fetchFinancialConnectionsSession = fetchFinancialConnectionsSession,
             fetchFinancialConnectionsSessionForToken = fetchFinancialConnectionsSessionForToken,