Financial service tech provider eCU Technology has partnered with payroll connectivity provider Atomic to bring automated direct deposit switching to credit unions. The collaboration seeks to create a simplified and user-friendly account onboarding experience, enabling credit union members to switch their payroll deposit accounts in a convenient and effortless manner.

Atomic – eCU Technology partnership details As per the press release information, by joining forces, eCU Technology and Atomic are looking to modernise the banking experience for credit union members, enabling them to have increased control over their financial transactions. eCU Technology prioritises the continuous improvement of its new account opening platform. Following customer feedback and growing demand for automated direct deposit switching, eCU Technology evaluated the market for a partner and selected Atomic, as the latter’s affordability was crucial for the company to enable its clients with access to high-quality direct deposit switching services free of significant investments in infrastructure or API development.

By having automated direct deposit switching capabilities integrated into eCU Technology’s platform, credit union members can take advantage of increased convenience and control over their financial transactions. Per the announcement, the strategic advancement marks a milestone in the journey towards modernising financial services and delivering innovative solutions that are tailored to the unique needs of credit unions. When commenting on the announcement, Matthew Downing, President at eCU Technology advised that the company is looking forward to partnering with Atomic to enable its clients to increase core deposits by leveraging the automated direct deposit switching provided by Atomic.

Per their statement, by painting eCU Technology’s account origination technology with Atomic’s automated direct deposit switching, consumers now have the possibility to have a fully funded account on the core banking system with their direct deposit switched to their new account in less than 3 minutes, with no action needed from the credit union. Adding on this, Jordan Wright, Co-founder and CEO at Atomic stated that the company is committed to helping financial institutions no matter the size to succeed, and through partnerships such as the one with eCU Technology, it can bring the same technology leverage by top US-based financial institutions to local and regional credit unions. The spokesperson said that there are looking forward to the collaboration with eCU technology as they cooperate on providing competitive and advanced financial solutions.

Past Atomic developments As a payroll connectivity provider, Atomic made several announcements throughout 2022 showcasing its development, with one of the most recent ones being a December 2022 collaboration with fintech Galileo, which enabled the latter to launch a direct deposit feature for banks and fintechs to expand financial access to consumers. In June of the same year, the company partnered with embedded finance company Bond Financial Technologies to launch Repay, a product that allowed customers to embed repayment of financial obligations over time directly from their paycheck. .