With coverage of over 1,600 payroll platforms, Pinwheel provides the most comprehensive access to payroll data in the market. Whether your end-user is a gig worker or a full-time employee of a Fortune 500 company, they can use our solution to grant you access to their income and employment data. Access to this data can power a range of use cases from verifying income and employment to underwriting loans to tenant screening and more.
In some cases, a financial service provider might need additional information that isn’t available in an end-user’s payroll platform. For example:
- Payroll platforms differ from one another in the types of data they provide, and you might be looking for something more. For example, an end-user who switched jobs within the last year may not have a tax form in their current payroll account.
- An end-user might not be connected to a payroll platform at all – especially if they are self-employed. Self-employed individuals make up 6.3% of the U.S. population and based on our data, we know that 70% of users who look up a variation of “self-employment” in our flow end up abandoning the process.
With our latest feature, we’re putting a stop to these data gaps and providing users with more options for submitting their data. We now make it possible for users to upload their documents, such as a W2 or paystub, to our API platform. This helps to supplement their payroll data or serve as the primary data source for users not able to connect a payroll account. With this functionality, we’re providing users with more options for submitting their data.
Providing a comprehensive solution that supports document uploads as a fallback allows you to properly assess risk, fully understand your user’s income, verify who your user is (KYC) for every user - not just those who have a payroll account. Our solution offers a seamless user experience and recaptures users who might otherwise abandon the process (i.e. self-employed individuals) leading to improved conversion.
Users will be able to easily provide income, employment, and tax form data through the same Link UX as the users who connect to their payroll account. This will decrease abandonment rates, improve conversion and expand their access to the innovative products our clients offer.
Whether you’re building the world’s next super app or simply trying to improve the user experience for your customers, Pinwheel can help. Get in touch with us to learn more about how our payroll data connectivity API can help you enhance your product.