Pinwheel Team

February 8, 2022

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Case study: Envel gears up to capture direct deposits

Envel is a US fintech that offers AI-powered mobile banking. Its app does the heavy lifting for users when it comes to investing, saving, budgeting, and other aspects of financial management.

Ultimately, Envel’s goal is to allow users to effortlessly organize their money into multiple accounts called envelopes, but its manual direct deposit solution was anything but effortless.

To overcome this challenge, Envel teamed up with Pinwheel to streamline its process of direct deposit switching and make it as sophisticated as the rest of the app.

Now, using Pinwheel’s API, Envel is set to become a one-stop shop for all its users’ money management needs.

Challenge

Envel's mobile banking app offered only manual direct deposits, an outdated process that usually involved filling out paper forms or going into external employee portals to manually provide account information. It made for a poor customer experience — especially for Envel, whose customers expect to enjoy sophisticated user interfaces like the rest of its app.

Solution

Pinwheel automated Envel's direct deposit switching in a matter of weeks — with expert help from enterprise development partner Scope — setting the fintech up to increase revenue and better serve its customers.

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