Rize Partners With Pinwheel to Provide Customers With Faster Payroll Data Via a Single API
Rize, a fintech-as-a-service provider, announces a partnership with Pinwheel, the market-leading income and payroll connectivity API provider, to allow Rize’s customers to securely switch direct deposits, access income and employment data, and more. Rize has integrated Pinwheel’s API directly into its platform, making it readily available to current and future Rize customers.
Pinwheel’s APIs will complement the suite of financial services already available on Rize’s platform including: checking accounts, transaction deposits and a high yield savings Target Yield Account. Both companies offer their clients a simple and accessible route to embedding financial solutions via a single API.
“We’re proud to work with Pinwheel to unlock a new way for customers to seamlessly leverage income and payroll data. We believe this will drive new and exciting use cases in the embedded finance ecosystem.” said CEO and Co-Founder of Rize, Justin Howell.
Rize and Pinwheel are excited to explore how their products can work together to solve for new use cases with Pinwheel’s coverage of over 1,500 platforms, ranging from traditional payroll providers for the Top 100 employers across the nation to unemployment benefits and gig or creator platforms. Uniquely, Pinwheel is not limited to salaried paychecks, but also individual hourly clock-ins.
Additionally, Pinwheel’s API’s can be used to speed up lending decisions, improve underwriting models and enable earned wage access to client end users. Rize and Pinwheel’s combined product offering enables both companies to unlock a new set of customers and solve for an expanded list of scenarios.
“At Pinwheel, we believe that providing a one-to-many solution will be critical to ensuring our customers have the best and most streamlined API experience,” said Kurtis Lin, co-founder, and CEO of Pinwheel. “Our industry-leading coverage of over 1,500 payroll platforms coupled with Rize’s unique approach to embedded finance will give our customers an unprecedented level of product innovation.”
Pinwheel is the market-leading payroll data connectivity platform. Fintechs and financial institutions alike trust Pinwheel to access the data and controls within traditional and non-traditional payroll platforms to update direct deposits, streamline income and employment verification, improve underwriting, power earned wage access, and build innovative new products.
With consumer permissioning, Pinwheel connects to the majority of these providers, covering over 1,500+ platforms and nearly 80% of anyone receiving a paycheck in the US, to enable market-leading fintechs, to easily access and update the payroll data of more than 100 million US-based employed people. Pinwheel is the only provider that handles both direct deposit switching and the provision of income and employment data to be Consumer Reporting Agency (CRA) compliant with the Fair Credit Reporting Act (FCRA).
To learn more, visit www.pinwheelapi.com.
Rize is a B2B fintech-as-a-service company that helps companies stand up new build banking solutions as well as embed financial services via a single API. Whether clients are core fintech companies or not, it’s increasingly clear that there is a fintech opportunity for every emerging customer-facing company. We help our clients get to product parity with leading fintech platforms for a fraction of the time, effort and cost. With Rize, companies of any size and in any industry can tap into value-add services for their customers that the world of fintech opens up.
We have dozens of clients building against our infrastructure layer (accounts, rails, cards, and compliance), and we’re aggressively adding new features like our Target Yield Accounts that allows our customers to offer a risk-optimized savings-centric product that seeks to target yields of up to 8% to attract new clients, increase client retention, and grow wallet share with existing clients.
To learn more, visit https://rizefs.com.