What are advantages and drawbacks of starting off as an API vs as an income verification company launching an API, and how it impacts Pinwheel?

The big difference is that their use case or their mission is to replace Equifax. In fact, if you look at early press, that's how they frame the whole company. And more power to them! Verification of income is definitely a use case that’s worth solving for. But the approach is always going to be limited because the data that you're aggregating and trying to build has the same static database model that Equifax has. That's not what we're building. 

We're building real time connectivity.

They can't enable things like real-time revolving credit, earned wage access, and all of these really compelling next generation use cases that will be where the market is going to go because their connectivity is not real time. 

Yes, they're building an API, but candidly, the coverage on that thing is so nominal. For us, the type of connectivity that we enable, they just don't do. It's not real time and it's not ongoing.