How DailyPay and Pinwheel Are Using Technology To Reinvigorate the World of Payroll

How DailyPay and Pinwheel Are Using Technology To Reinvigorate the World of Payroll

To earn disruptor status, a company or a category must look at a legacy system, find ways to deconstruct it, and ultimately rebuild it in a way that considers users' needs now versus when it was created. One key example is in the world of payroll. Despite being driven by a group of global companies, many key functions and data sources remain disparate. Several legacy systems make what, on the surface, may seem like a simple change is actually harder than it appears, ultimately making the rules that drive the system unfair for many involved. When Anish Basu , Curtis Lee , and Kurt Lin built a company to provide employees with pre-tax benefits transit and healthcare accounts, they ran into a small problem. They learned there was no simple way to offer their product to the handful of large companies that dominate the payroll space. Seeing this challenge and several other legacy brick walls drove the group to found Pinwheel in 2018. The company's mission is "to build a fairer financial system by unlocking access to payroll." By introducing a series of new services through a simple API, Basu, Lee, and Lin were able to cut across existing obstacles