Pinwheel, a fintech startup revolutionizing access to payroll data, has announced an expansion of its direct deposit solution through a strategic partnership with Jack Henry & Associates.
This collaboration allows Pinwheel to integrate its technology with Jack Henry’s existing suite of banking software solutions, providing seamless direct deposit capabilities to financial institutions and their customers.
With Pinwheel’s API-based platform, individuals can effortlessly connect their bank accounts and automatically receive their payroll via direct deposit, eliminating the need for paper checks or manual transactions.
The partnership with Jack Henry, a leading provider of technology solutions for the financial industry, further strengthens Pinwheel’s market presence and enables a wider adoption of its innovative direct deposit solution.
“We are excited to join forces with Jack Henry to extend the reach of our direct deposit offering,” said Kurtis Tanaka, CEO of Pinwheel. “Our collaboration will empower more individuals to easily connect their accounts and receive their pay in a faster, more secure, and convenient manner.”
The direct deposit solution developed by Pinwheel ensures faster payroll processing, reducing the time and costs associated with traditional payment methods. It also enhances security by eliminating the risk of lost or stolen paper checks.
By leveraging Jack Henry’s expansive network of financial institutions, Pinwheel will be able to provide its direct deposit solution to a broader range of customers, spanning community banks and credit unions to larger national banks.
Through this partnership, financial institutions integrating Pinwheel’s technology will be able to offer their customers a streamlined direct deposit experience directly from their existing online banking platforms or mobile applications.
“Our collaboration with Pinwheel aligns perfectly with our commitment to providing innovative and secure solutions to our financial institution clients,” stated Mark Forbis, CTO of Jack Henry. “Pinwheel’s direct deposit capabilities will enhance the value proposition of our banking software offerings, helping banks deliver modern and convenient payment services to their customers.”
Pinwheel’s integration with Jack Henry’s banking solutions is expected to expand its customer base and accelerate the adoption of direct deposit as the preferred method of receiving payroll, ultimately eliminating the reliance on outdated payment systems.
This strategic partnership marks a significant milestone for Pinwheel as it continues to drive digital transformation within the financial industry, revolutionizing the way individuals access and manage their payroll data.
As the demand for secure and efficient digital payment solutions continues to grow, Pinwheel’s direct deposit solution, fueled by its collaboration with Jack Henry, positions the company as a leading player in the fintech space, paving the way for a future where direct deposit becomes the new standard.