Pinwheel Arms Jack Henry Clients with the Industry's Leading Account Activation Solution, the Switch Kit, and a New Powerful Bill Management Suite
- Integration expands Jack Henry's fintech ecosystem, reaching approximately 7,500 financial institutions
- Bill detection algorithm outperforms competitors by 20%
- Addresses growing consumer demand - 87% of U.S. consumers interested in subscription management tools in 2023
- Offers comprehensive solution for account activation and bill management in one platform
- None.
Insights
Jack Henry's expanded Pinwheel integration strengthens competitive position by addressing key banking friction points and enhancing customer retention capabilities.
Jack Henry (JKHY) has significantly expanded its digital banking capabilities through an enhanced partnership with Pinwheel that addresses two critical challenges in banking: account activation friction and subscription management. The Switch Kit integration combines direct deposit switching with bill payment transfers—targeting the primary barriers preventing consumers from changing their primary banking relationships. This solves a fundamental banking pain point, as difficulty moving direct deposits and concerns about missed payments are top reasons consumers stay with underperforming banks.
The addition of Bill Navigator represents a strategic move into the high-demand subscription management space, where consumer interest has jumped from
For Jack Henry's approximately 7,500 financial institution clients, these integrations provide competitive differentiation in a market where smaller banks struggle to match fintech capabilities. The implementation leverages Jack Henry's Banno Digital Toolkit APIs, allowing seamless integration without disrupting the core banking experience. This approach reflects Jack Henry's platform strategy of building a fintech ecosystem (now over 950 partners) rather than developing all capabilities in-house—maximizing innovation speed while maintaining control over the customer relationship.
The July 2025 deployment timeline gives Jack Henry clients a near-term opportunity to implement these features, potentially improving deposit retention and digital engagement metrics. For community and regional banks facing intense competition for deposits, these tools address fundamental customer acquisition and retention challenges through technology rather than rate competition.
Community and regional financial institutions can offer accountholders a guided onboarding experience that helps them cut ties with legacy accounts, consolidating their deposits and payments, and embedded bill management features that help them save money on unwanted subscriptions.
Pinwheel first announced its collaboration with Jack Henry, making its top performing direct deposit switch solution available to platform customers, in January 2024. Pinwheel leveraged the Banno Digital Toolkit™, the same set of APIs the Banno Digital Platform™ is built on, to embed its technology into the digital experiences offered by community and regional financial institutions. Access to Jack Henry's API, design, and authenticated frameworks has enabled Pinwheel to integrate directly into the digital banking platform, providing a seamless banking experience. This integration contributes to Jack Henry's growing ecosystem of over 950 fintechs, providing approximately 7,500 financial institutions with relevant financial products and services for their account holders.
With the expansion of its solution set, financial institutions on the Jack Henry platform can now easily add bill switching to their onboarding journey. Pinwheel's groundbreaking Switch Kit combines the industry's top performing Direct Deposit Switch solution with their Bill Switch feature, released earlier this year. The Switch Kit is the industry's first solution to comprehensively solve pain points associated with account activation for consumers. Risks associated with transitioning direct deposits and missing critical payments due to funds availability are the top concerns consumers state that prevent them from switching to a better bank. By combining direct deposit and bill switching at account opening, Pinwheel's Switch Kit enables institutions to unseat legacy banking relationships and become their new customer's primary account on day one.
Similarly to how Pinwheel Deposit Switch proactively identifies active payroll records and surfaces them for 2-click switching, Pinwheel Bill Switch connects consumers' external payment accounts and instantly identifies all major recurring bill payments to switch. Consumers are able to easily review upcoming due dates and select when to switch each bill's payment source to their new account - all without leaving their new bank's app experience. These features together empower customers with the transparency and control needed to confidently transition their primary banking relationship without fear of payment disruption.
The Switch Kit makes account activation easy, but that only solves part of consumers' problems. Pinwheel has also enabled its comprehensive bill management suite, Bill Navigator, to help Jack Henry customers drive sticky engagement within their digital banking experience. The share of consumers interested in a subscription-management tool provided through their digital banking app climbed to
Bill Navigator can identify trial subscriptions and their cancellation timelines, proactively notify consumers of upcoming trial expiration dates, and offer consumers the ability to cancel with one click from within a bank's app. Once connected, the Bill Navigator algorithm continuously scans for trials and other types of subscriptions, helping consumers schedule payments aligned to their cash flow, identify opportunities to save money on redundant subscriptions, and easily cancel thousands of the most common subscriptions. Pinwheel's bill detection algorithm currently outperforms all other providers' subscription detection algorithms by at least
"Consumers' financial needs are increasingly complex. Thus, they are expecting ever more from their primary banking relationship, and they will not hesitate to change banks to get their needs met," said Kurtis Lin, CEO & Co-Founder of Pinwheel. "Undoubtedly banks offering the cutting-edge digital features consumers are clamoring for will be rewarded with primacy and long-term loyalty."
Pinwheel Switch Kit and Bill Navigator will be live on the Jack Henry digital banking platform this July. To find out how your financial institution can participate, Contact Us Link
About Jack Henry & Associates, Inc.
Jack Henry™ (Nasdaq: JKHY) is a well-rounded financial technology company that strengthens connections between financial institutions and the people and businesses they serve. We are an S&P 500 company that prioritizes openness, collaboration, and user centricity – offering banks and credit unions a vibrant ecosystem of internally developed modern capabilities as well as the ability to integrate with leading fintechs. For nearly 50 years, Jack Henry has provided technology solutions to enable clients to innovate faster, strategically differentiate, and successfully compete while serving the evolving needs of their accountholders. We empower approximately 7,500 clients with people-inspired innovation, personal service, and insight-driven solutions that help reduce the barriers to financial health. Additional information is available at http://www.jackhenry.com
About Pinwheel
Pinwheel helps banks, CUs and fintechs win primacy with embedded 1-click deposit switching and bill management tools. Through an exclusive data network of payroll providers, Pinwheel enables access to income and employment data across 1,800 platforms (covering up to
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SOURCE Pinwheel
FAQ
What new features is Pinwheel adding to Jack Henry's digital banking platform in 2025?
How does Pinwheel's Switch Kit benefit Jack Henry (JKHY) bank customers?
What is Pinwheel's Bill Navigator and how does it work?
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When will Pinwheel's new features be available on Jack Henry's platform?
