How willing are payroll providers to cooperate with Pinwheel's API, and does this differ from the experience of Plaid in working with banks?

The short answer is we don't have the same type of antagonistic dynamics that existed with Plaid. Which, by the way, were largely self-induced. They didn't need to be that way. They purposely kept those partners at an arm's distance. Now, the reason why it's not the same in our industry is primarily because the precedent is already there. ADP has been selling data to Equifax for years. There was no precedent that the big banks were selling data to other people, so, there was a much more contentious argument around like, “Well, who owns this data? Do we even have the right to sell it?” We don't have that same issue.

We believe, philosophically, that this data belongs to the consumer. I don't think you could ever argue that who you are, how much you make, where you work is not your data as the consumer. What we are doing is enabling the consumer to share their information with whomever they choose. I know for a fact we are on the right side of history here. I work with CFPB and Senate committee members and like there's no dispute. They're like, “Yeah, this is very clearly the right way to see this.” It's one of the few things that has bipartisan support.

Now, the thing is, when you're talking about supply side, or what we call supply side partners, it's more about how do we construct the partnership in a way where the incentives are aligned? Where the data that's being passed through is structured in the right way that it’s actually usable by the consumer or by the customer? And that it’s mutually beneficial to both parties? So, it's much more of a pure partnership conversation and less so anything around like, “Oh man, philosophically, we just don't see eye to eye on this.”