Pinwheel, the fintech helping banks win primacy through frictionless activation and engagement, announced today that it has expanded its partnership with Bankjoy to bring its industry-leading Switch Kit to the Bankjoy digital banking platform.
The collaboration between the two companies began in April 2024, when Pinwheel’s direct deposit switch solution was first made available to Bankjoy’s clients. With this latest expansion, financial institutions using Bankjoy’s digital banking solution can now integrate the full Switch Kit, giving them a powerful account opening experience that allows customers to instantly switch both direct deposits and bill payments directly within their banking app.
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Pinwheel’s Switch Kit is the first comprehensive solution designed to solve long-standing challenges in account activation. By combining the company’s top-performing Direct Deposit Switch with its recently launched Bill Switch feature, it removes the friction that often prevents consumers from changing banks. Traditionally, customers hesitate to switch due to risks like disrupted deposits or missed bill payments. By addressing both concerns at once, the Switch Kit enables financial institutions to become a customer’s primary account provider right from the start.
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The technology works by proactively identifying active payroll records and surfacing them for quick, two-click deposit switching. At the same time, Bill Switch connects to external payment accounts and automatically identifies recurring bills, allowing customers to review due dates and select when to transition each payment to their new account. This transparent and seamless process gives customers confidence that they can safely move their financial relationships without disruption.
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““Bankjoy’s mission is simple: to give our financial institutions the tools they need not just to compete, but to win the deposit war,” said Weiwei Duncan, COO of Bankjoy. “With Pinwheel’s advanced account activation technology, we can offer consumers a best-in-class experience while helping our clients build long-term profitability from their digitally acquired accounts. Our expanded partnership with Pinwheel is testament to Bankjoy’s commitment to ensuring our clients always have access to the most cutting-edge digital banking features.”
Jaimeson Rice, Chief Excutive Officer of Pinwheel, added, “Deposit Switch and Bill Switch are essential growth drivers for financial institutions aiming to win primacy with their customers. We’re thrilled to deepen our partnership with Bankjoy so that banks and credit unions of every size can deliver game-changing results for their acquisition funnel.”
Bankjoy is now an official reseller of Pinwheel’s Switch Kit, making the solution available for rapid deployment across its client network.
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