ATOMIC

The framework for connected banking -- payroll connectivity and open banking infrastructure for financial institutions.

Insurtech Infrastructure Growth Series B

Overview

Atomic is a payroll connectivity and open banking infrastructure platform that enables financial institutions, fintechs, and insurance providers to integrate consumer-permissioned financial data into their products. Founded in 2019 by repeat fintech entrepreneurs Jordan Wright (CEO), Scott Weinert (CTO), and Andrea Martone, the company provides a unified SDK that connects to over 450 payroll and HRIS systems, covering approximately 75% of the U.S. workforce.

The platform supports a range of financial workflows including direct deposit switching, income and employment verification, payment method updating, subscription and bill management, tax refund access, and secure payroll authentication. Atomic serves 8 of the top 10 U.S. financial institutions and more than 195 financial services firms and fintechs. Since its founding, over 6 million users per year engage with Atomic-powered workflows.

In insurance, Atomic's payroll connectivity is used by P&C carriers for workers' compensation wage verification, pay-as-you-go insurance enablement, and income-based underwriting -- reducing fraud and manual data collection. The company joined Guidewire's Insurtech Vanguards program in 2023, signaling strategic alignment with the P&C insurance ecosystem.

Products & Services

Deposit

Direct deposit switching -- enables financial institutions to drive direct deposit adoption by allowing consumers to redirect their paycheck within a bank or fintech's app.

Key Features

Consumer-permissioned payroll account connectivity
Integrates with 450+ payroll providers
Supports both UserLink (consumer) and EmployerLink (employer/HRIS) authentication

Target Users: Banks, credit unions, neobanks

Verify

Income and employment verification using real-time payroll data, replacing manual document collection.

Key Features

Instant income and employment verification
Workers' compensation wage loss claim support
Fraud reduction via direct payroll data access

Target Users: Carriers, lenders, TPAs

Switch

Payment method updating across merchants and billers, enabling consumers to update stored card details in one step.

Key Features

Connects to major merchant and biller networks
Supports post-deposit account switching
Powers H&R Block Spruce PayLink Switch

Target Users: Banks, fintechs, neobanks

Manage

AI-powered subscription and bill management embedded within financial institution apps.

Key Features

Identifies and categorizes recurring payments including insurance premiums
Bill negotiation and optimization
Drives account stickiness and engagement

Target Users: Banks, credit unions, digital banking platforms

Tax

Access to tax refunds and W-2 data directly from payroll systems.

Key Features

Accelerated tax refund access
W-2 data retrieval
EWA (Earned Wage Access) enablement

Target Users: Banks, fintechs, financial wellness platforms

Authentication

Secure payroll and merchant account access via three modes: TrueAuth (passwordless), StandardAuth, and CoAuth.

Key Features

Proprietary Uplink passwordless authentication technology
Supports both consumer-permissioned and employer-admin access paths
SOC 2 Type 2 and PCI DSS compliant

Target Users: Financial institutions, fintechs, insurance carriers

At a Glance

Founded: 2019
Headquarters: Salt Lake City, UT
Employees: 501-1000
Funding: Series B

Category & Focus

Category: Insurtech Infrastructure
Subcategories: Payroll Connectivity Open Banking Income Verification Embedded Finance
Insurance Verticals: P&C Commercial Workers Compensation Specialty/E&S
Target Customers: Carriers, Employers, Consumers