Robinhood Direct Deposit Switch Cuts Inactivity Rates by Half
Robinhood Banking customers now convert to a successful direct deposit switch at a 2X higher conversion rate than legacy solutions. This follows the the selection of Pinwheel Deposit Switch and its PreMatch technology. PreMatch automatically identifies and surfaces active payroll accounts after Multi-Factor Authentication. Users no longer need to search for payroll providers or provide usernames and payroll passwords. The process addresses an industry-wide 40% inactivity rate after first funding.
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