Pinwheel + Bankjoy Are Transforming Account Activation with Switch Kit

Financial institutions on the Bankjoy platform can easily offer accountholders a cutting edge onboarding experience that helps them instantly port direct deposits and recurring bills to their newly opened account, cutting ties with legacy banks and consolidating important financial transitions in one convenient place.

NEW YORK, Sept. 9, 2025 /PRNewswire/ -- Pinwheel, the fintech helping banks win primacy with frictionless activation and engagement experiences, announced today that it has expanded the solutions available on the Bankjoy digital banking platform to include its industry-leading Switch Kit.

Pinwheel first announced its collaboration with Bankjoy, making its top performing direct deposit switch solution available to platform clients, in April 2024. With the expansion of the partnership, financial institutions running Bankjoy's digital banking solution will now have access to the Switch Kit, providing them with a powerful account opening experience that enables instant deposit and bill switching from within their app.

Bankjoy's customers can now easily add bill switching to their onboarding journey. Pinwheel's groundbreaking Switch Kit combines the industry's top performing Direct Deposit Switch solution with their Bill Switch feature, released earlier this year. The Switch Kit is the industry's first solution to comprehensively solve pain points associated with account activation for consumers. Risks associated with transitioning direct deposits and missing critical payments due to funds availability are the top concerns consumers state that prevent them from switching to a better bank. By combining direct deposit and bill switching at account opening, Pinwheel's Switch Kit enables institutions to unseat legacy banking relationships and become their new customer's primary account on day one.

Similarly to how Pinwheel Deposit Switch proactively identifies active payroll records and surfaces them for 2-click switching, Pinwheel Bill Switch connects consumers' external payment accounts and instantly identifies all major recurring bill payments to switch. Consumers are able to easily review upcoming due dates and select when to switch each bill's payment source to their new account - all without leaving their new bank's app experience. These features together empower customers with the transparency and control needed to confidently transition their primary banking relationship without fear of payment disruption.

"Bankjoy's goal is clear: to ensure that our financial institutions have the best tools to not only compete - but win the deposit war," said Weiwei Duncan, COO of Bankjoy. "Pinwheel's advanced account activation technology simultaneously delivers a best-in-class user experience for consumers, while driving long-term profitability of digitally acquired accounts for our clients. Our expanded partnership with Pinwheel is testament to Bankjoy's commitment to ensuring our clients will always have access to the most cutting edge digital banking experience features."

Pinwheel's CEO, Jaimeson Rice, shared, "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 FIs of every size can deliver game-changing results for their acquisition funnel.

Bankjoy is an official reseller of the Pinwheel Switch Kit, which is now available for rapid deployment for Bankjoy clients. To find out how your financial institution can participate, click here to speak with the Bankjoy team.

About Bankjoy

Founded in 2015, Bankjoy delivers modern banking technology and elegantly designed financial solutions

to banks and credit unions. The company's mission is to uplift communities in partnership with community financial institutions by providing technology that enhances people's everyday financial lives and reconnects these institutions to their community roots. Bankjoy's suite of products includes online and mobile banking, conversational AI, online account opening, loan origination, personal financial

management, and statements.Bankjoy is a Curql Collective, Bessemer Venture Partner, Y Combinator-, and CheckAlt-backed company. For more information, visit www.bankjoy.com.

About Pinwheel
Pinwheel helps banks, CUs and fintechs win primacy by delivering frictionless digital experiences. Our industry leading Switch Kit, enabling instant deposit and bill switching at account opening, delivers 30% more switches than any competitive solution. Through our proprietary network covering 1,800 payroll providers, 1.5 million employers, and thousands of merchants, Pinwheel connects financial institutions to real-time, source of truth income, employment, deposits and payments data - so banks can deliver personalized services that help customers better manage their complete financial lives. Pinwheel is the provider of choice for some of the world's most innovative financial providers, including MoneyLion, Acorns, Key Bank and many more. Pinwheel has raised $77M from top-tier investors such as Notable, Coatue, First Round Capital, Upfront and more.

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SOURCE Pinwheel