NEW YORK, July 28, 2026 /PRNewswire/ — Pinwheel, the fintech helping banks and credit unions win primacy with frictionless account activation and engagement experiences, announced that its industry-leading ‘Switch Kit’ will be integrated with MeridianLink®. This integration allows financial institutions to rapidly deploy embedded Direct Deposit Switch and Bill Switch in their digital account onboarding experience.

Pinwheel’s groundbreaking 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. Capturing direct deposit and recurring bill payments early in the relationship are proven to be the most significant long-term drivers of deposit growth and lifetime value.

At the core of Switch Kit is Pinwheel’s next-generation deposit switch technology, PreMatch, a first-of-its kind credential-less experience powered by Pinwheel’s proprietary payroll partner network. Pinwheel invented PreMatch in 2023 to radically improve conversion from first-generation digital deposit switch solutions. Prior to PreMatch, digital deposit switch experiences required users to authenticate with their payroll provider account usernames and passwords – information that consumers often have never known or use so sparingly that they do not remember. The inherent friction led to lackluster conversion.

Pinwheel PreMatch circumnavigates these friction points by auto-identifying a user’s payroll record during account opening and giving them the option to initiate a near-instant direct deposit switch without leaving the bank’s app. 64% of users who receive the PreMatch prompt continue to execute a direct deposit switch via a simple one-time passcode. The PreMatch authentication paradigm has transformed the digital deposit switch experience into a seamless, two-click process that converts 2x better than competitive solutions.

MeridianLink powers digital lending and account opening for financial institutions and provides data verification solutions for consumer reporting agencies. MeridianLink’s scalable, cloud-based platforms help customers build deeper relationships with consumers through data-driven, personalized experiences across the entire lending life cycle. Its partner marketplace supports hundreds of integrations for tailored innovation.

“MeridianLink’s 1,500 financial institutions are sitting on an enormous deposit opportunity — and now they have a direct path to capture it,” said Jaimeson Rice, CEO of Pinwheel. “Together, we’re making it seamless for FIs to turn every new account opened into a primary banking relationship from day one.”

About MeridianLink 
MeridianLink® empowers financial institutions and consumer reporting agencies to drive efficient growth. MeridianLink’s cloud-based digital lending, account opening, background screening, and data verification software solutions leverage shared intelligence from a unified data platform, MeridianLink® One, to enable customers of all sizes to identify growth opportunities, effectively scale up, and support compliance efforts, all while powering an enhanced experience for staff and consumers alike.
For more than 25 years, MeridianLink has prioritized the democratization of lending for consumers, businesses, and communities. Learn more at www.meridianlink.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 American Express, MoneyLion, Credit Karma 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