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Pinwheel Launches Product to Leverage Real-Time Consumer Earnings Data

Pinwheel Launches Product to Leverage Real-Time Consumer Earnings Data
  • Payroll data company Pinwheel launched a tool called the Pinwheel Earnings Stream.
  • The new product offers data on past, current, and projected income.
  • According to Pinwheel, the data is most useful for earned wage access (EWA) offerings, but can also be used for financial wellness tools, underwriting, and more.

Income and employment data innovator Pinwheel announced its newest launch today. The company unveiled the Pinwheel Earnings Stream, a tool that offers up-to-date historical, current, and projected income data.

Pinwheel leverages machine learning and pay stub data to determine net earned wages for any work completed to create an accurate view of accrued and projected earnings. Earnings Stream uses analytics and intelligence to help make sense of this data.

Earnings Stream offers organizations three main benefits: accrued earnings, which shows wages a customer has earned so far in the current pay period; projected earnings, which estimates the earnings a customer will have by the end of the current pay period; and pay dates, a list of a customer’s projected pay dates.

By leveraging the projected earnings information from Earnings Stream, organizations can efficiently deploy an earned wage access (EWA) strategy. According to Pinwheel, Earnings Stream has other use cases, as well, including “financial wellness tools, educational services, cash flow underwriting, and so much more.”

“We developed Earnings Stream to support our customers’ strategies to answer the consumer demand for EWA services, while they have long wanted to offer these products, it’s been nearly impossible to execute at scale throughout the fintech industry at large,” said Pinwheel Co-Founder and CEO Kurtis Lin. “EWA is a unique product because it benefits all parties. Consumers are excited about meaningful liquidity, financial institutions are happy to acquire customers, and employers are pleased to see their workers have less financial stress. I’m proud of our team for developing what we believe will be one of the fintech industry’s keys to building truly impactful EWA products.

Founded in 2018, Pinwheel aims to create a fairer financial system with its API that connects to more than 1,600 payroll platforms and more than 40 time and attendance platforms. In all, the system covers 80% of U.S. workers and more than 1.5 million employers. 

The New York-based company aims to offer fintechs the data needed to create financial tools for underserved populations, without taking on additional risk. “Many of our customers are working on exciting use cases that we’re excited to see hit the market soon,” said Lin.


Photo by Min An