Atomic Payroll APIs vs. Pinwheel

Pinwheel started with payroll-linked loans and using payroll data for underwriting the loans. Underwriting is highly competitive and the market is fractured making it difficult to gain volume, which is key to growing coverage.

Alternatively, Atomic launched with update and set up direct deposit directly in payroll. This product is highly differentiated from the market and has seen a lot of traction from fintech companies looking to acquire deposits. The volume and lack of competition has enabled Atomic to scale from 0 to 20,000+ deposit updates a month within 6 months of launching.

Further, volume enables atomic to offer a competitively priced product making it more affordable than Pinwheels offering.

Atomic offers a differentiated solution for direct deposit set up and updates, more comprehensive coverage, and higher user conversion rates. 


How does Atomic’s payroll APIs differ?

Atomic’s payroll APIs support fractional direct deposit updates, which allows a consumer to pay back a loan directly from their paycheck. 

The demand for this service has grown rapidly as lenders search for ways to decrease defaults and increase their consumer base. 

Pinwheel does not support fractional direct deposit changing. They offer a service called Payroll Linked Loans, which is using payroll data to underwrite the loan. 

Atomic’s payroll APIs can access the data and repay the loan with fractional direct deposits.


UX is key to Atomic’s payroll APIs

Partnering with six of the ten largest neobanks in the United States has enabled us to fine-tune our product and build out our UX and UI to ensure it meets the needs and expectations of our customers. Further our transparency about our coverage and conversion rates during competitive deals has helped us win in highly competitive deals.

We have heard from these partners that we stand out not only in our product but in the experience with our team supporting them through integration and onwards.


The benefits of Atomic’s payroll APIs compared to Pinwheel

There are numerous benefits of Atomic’s payroll APIs, including:

  • Support for fractional direct deposit switches
  • Stronger employer and payroll coverage 
  • Higher conversion rate of consumers authenticating into payroll systems 

Want to learn more about Atomic’s payroll APIs, our coverage of employers and workers, and how our conversion rates can help your business retain and acquire customers? Use the contact form below to get in touch or request a demo today. We’d love to hear from you.