Pinwheel Integrates with MeridianLink to Enhance Digital Account Onboarding
Pinwheel has announced the integration of its 'Switch Kit' technology with MeridianLink. This collaboration enables financial institutions (FIs) to offer embedded Direct Deposit Switch and Bill Switch features during digital account onboarding, improving activation rates for new customers. The integration leverages Pinwheel's PreMatch technology, a credential-less solution that auto-identifies users’ payroll records without requiring login credentials from their previous banks. This streamlined process has shown significantly higher conversion rates—64% of users who receive the prompt proceed with switching direct deposits via one-time passcode. MeridianLink supports over 1,500 financial institutions and provides digital lending and account opening solutions. The partnership aims to help these FIs capture early deposit opportunities by turning new accounts into primary banking relationships from day one.
Tickers: $MLNK
Topics: account onboarding bill switching digital banking direct deposit switching