Pinwheel is a fintech software company that provides digital solutions to help banks and financial institutions deepen customer relationships and increase customer lifetime value. Pinwheel is best known for its digital deposit switch solution, which enables users to seamlessly redirect their direct deposits to a new bank account. This technology is designed to help banks win account primacy by making it easier for customers to switch their payroll deposits, ultimately driving stronger engagement and retention.
Pinwheel’s platform offers:
- A market-leading digital deposit switch solution that delivers up to 2x better conversion rates compared to industry standards
- Enhanced security for deposit switching
- Unique share-of-wallet insights that help banks understand and engage their customers more effectively
These solutions are used by some of the world's leading financial institutions and fintechs, supporting initiatives to boost customer acquisition and engagement. Pinwheel’s system is focused on providing a user-centric experience and actionable data to power customer engagement programs.
Who Uses Pinwheel?
Pinwheel serves a diverse set of financial services organizations, including major banks, neobanks, and fintech companies. Notable customers include:
- DoorDash
- Chime
- Acorns
- Cash App
- Citizens
- Current
- Credit Karma
- TurboTax
- RoarMoney
- Discover
- Robinhood
These organizations leverage Pinwheel’s deposit switch and data insights to enhance onboarding, improve account funding, and strengthen customer loyalty.
How Was Pinwheel Started?
Pinwheel was founded in 2019 by Anish Basu, Curtis Lee, and Kurt Lin. The founding team launched Pinwheel with the vision of building the world’s first API for payroll, enabling secure and efficient access to payroll systems for direct deposit switching and other financial services. The company secured seed funding from First Round Capital and Upfront Ventures to accelerate product development and market adoption.
You can learn more about their story and mission on their About page.
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