Business
Pinwheel and nCino Partner to Offer Direct Deposit Switching
Pinwheel, a fintech that helps financial institutions win primacy with frictionless activation and engagement solutions, announced that it has entered into an agreement to join nCino's global ecosystem of technology partners as a Preferred Partner for Direct Deposit Switching (DDS). nCino, Inc. (NASDAQ: NCNO) is the leading provider of intelligent, best-in-class banking solutions.
About this update from Ncino, Inc.
[{"type":"text","content":"nCino customers can now leverage Pinwheel, the industry's top-performing Direct Deposit Switching solution, to boost account activation and primary banking relationships","length":173,"tagName":"p"},{"type":"text","content":"NEW YORK, May 8, 2025 /PRNewswire/ -- Pinwheel, a fintech that helps financial institutions win primacy with frictionless activation and engagement solutions, announced that it has entered into an agreement to join nCino's global ecosystem of technology partners as a Preferred Partner for Direct Deposit Switching (DDS). nCino, Inc. (NASDAQ: NCNO) is the leading provider of intelligent, best-in-class banking solutions.","length":425,"tagName":"p"},{"type":"image","alt":"Pinwheel logo (PRNewsfoto/Pinwheel)","displaySize":"","headline":null,"caption":"Pinwheel logo (PRNewsfoto/Pinwheel)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":101,"url":"https://media.zenfs.com/en/prnewswire.com/ba4f314d584dd666f0f4d9314e42845b"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/msKa1mR9xIr5_aNgG8Okvg--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTE3ODtjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/ba4f314d584dd666f0f4d9314e42845b","width":400,"height":101}},"href":"https://mma.prnewswire.com/media/1728278/Pinwheel__Logo.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"As part of the partnership agreement, nCino will create an integration between its Consumer Banking Solution and Pinwheel Deposit Switch. The integrated functionality will help banks and credit unions achieve better deposit switch conversion rates. Head-to-head tests among available deposit switching solutions have proven that Pinwheel consistently delivers 30% more switches than other providers.","length":399,"tagName":"p"},{"type":"text","content":"Bank account opening and onboarding experiences are historically friction-filled, making consumers hesitant to switch their primary banking relationship to find products and services that better fit their changing lifestyle needs. The inconvenience of switching their direct deposit is a top reason consumers abandon new account set-up, driving over 40% of newly opened accounts to never become activated. Pinwheel removes this barrier by enabling easy direct deposit switching within the account opening experience, where consumer intent to switch is hig...