Pinwheel joins the Visa Fintech Partner Connect program

Pinwheel is now a Visa Ready certified participant to work more seamlessly with merchants, financial institutions and fintech companies to launch new applications. Pinwheel’s enterprise-grade API allows customers to easily connect to consumer-permitted income and employment data.

As a participant in the Visa Fintech Partner Connect program, Pinwheel will more easily provide customers with the unique advantage of leveraging income and employment data for lending decisions, as well as an additional layer of security and compliance.

NEW YORK, March 29, 2023 /PRNewswire/ — Today, Pinwheelthe market-leading provider of income and employment data developed for fintech innovation, joined the Visa Fintech Partner Connect program.

Visa Fintech Partner Connect participants are Visa Ready certified by Visa and trusted by the global payments ecosystem to help technology companies build and launch payment solutions that meet Visa’s global standards around security and functionality.

Pinwheel helps leading financial institutions and fintechs become the primary bank, reduce risk and enable users with market-leading performance, connectivity, security and compliance.

Pinwheel’s enterprise-grade API makes it easy to access real-time data and controls in consumer income and employment accounts. Compared to other market offerings, Pinwheel takes revenue and employment data a step further by using robust analytics and intelligence to make sense of the data so fintechs and financial institutions don’t have to.

Pinwheel uniquely connects to over 1,700 platforms (covering 80% of US workers) and over 1.5 million employers. With Pinwheel, fintechs and financial institutions power direct deposit exchanges, earned salary access, income and employment verification, build innovative new products and more.

Being selected for the Visa Fintech Partner Connect program demonstrates Pinwheel’s strong commitment to security and compliance. Pinwheel is one Consumer Reporting Agency (CRA), which means the company offers Fair Credit Reporting Act (FCRA)-compliant income and employment data that can be actively used in lending decisions. Pinwheel also received the highest safety certification in the industry, a ISO/IEC 27001:2013 certification.

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“We are excited to connect more directly with fintechs and financial institutions in Visa’s ecosystem to help them take advantage of our leading income and employment data connectivity,” said Lauren Crossett, CRO of Pinwheel. “Our mission is to create a fairer financial system, and partnering with Visa will allow us to reach more customers who can build products and services that better serve consumers.”

“Today, consumers want seamless interactions across mobile and web, and access to a greater suite of digital banking features,” said Vanessa Colella, SVP and global head of innovation and digital partnerships at Visa. “With Pinwheel participating in the Fintech Partner Connect program, our customers will have access to a powerful set of tools to build new digital-first experiences.”

Flagship solutions in business class

A recent one Pinwheel survey concluded that consumers believe that banks and fintech should be their allies and offer a more comprehensive range of personalized products. Pinwheel’s advanced product suite allows customers to respond to this consumer need:

• Pinwheel Deposit Switch: Automate seamless direct deposit switching to help customers increase lifetime value, increase retention and profitability, and become the primary financial institution.

• Pinwheel Smart Branch: Bring the power of digital automation and tools to brick-and-mortar locations to increase profitability, improve customer experience, and keep pace with consumer preferences.

• Pinwheel income stream: Support new products, such as cash flow guarantee enablement and Earned Wage Access (EWA) simplification, to alleviate the financial stress of traditional guarantees and traditional pay periods with Pinwheel’s higher insights such as projected income or accrued income.

• Pinwheel treasures: Automate the tax form collection process to help build solutions that make taxes less burdensome for customers and help win consumer sentiment by meeting even more of their financial needs

• Pinwheel Verify: Access consumer permit income and employment data to manage lending risk, improve underwriting models and increase repayment rates.

About Pinwheel: Pinwheel is the market-leading API for income and employment. With Pinwheel, fintechs and financial institutions are empowered to build the next generation of financial products that will help create a fairer financial system. Pinwheel provides access to consumer-permitted income and employment accounts and actionable insights that help them understand the data they need to tailor their tools and services for consumers. Pinwheel’s platform has enterprise-grade security protocols for power connections to over 1,600 platforms (covering 80% of US workers), and over 1.5 million employers. From this point of connection, leading fintechs and financial institutions (like Block, formerly Square) leverage us to power direct deposit exchanges, earned salary access, income and employment verification, and build innovative new products. Pinwheel is also a Consumer Reporting Agency (CRA), making the company the only provider in the area to offer Fair Credit Reporting Act (FCRA) compliant income and employment data that lenders can actively use in decision making. Pinwheel is trusted and funded by 77 million dollars by top tier investors such as GGV, Coatue, First Round Capital and more.re.

Media contact: Gina Papini[email protected]

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SOURCE Pinwheel