Case Study: Varo Bank achieves 23% higher direct deposit conversion with Pinwheel PreMatch

Varo Bank lifts direct deposit conversion by 23% with Pinwheel

Varo Bank, a consumer tech bank, partnered with vendor Pinwheel to enable direct deposit switching via its NativeLink product. While this initial solution provided strong conversion, Varo sought to further reduce friction and deliver a best-in-class digital banking experience for its customers.

Pinwheel implemented its PreMatch solution, which leverages existing user information to proactively identify payroll accounts. This eliminated the need for users to search for their provider and log in, removing two major points of friction. The result was a 23% lift in direct deposit conversion, helping Varo grow its deposit base and enhance its reputation for customer-centric banking.

Varo Bank