Atomic and OneSource Virtual Team Up to Improve Financial Control for American Workers

Atomic has revealed its alliance with OneSource Virtual (OSV), aiming to provide a simplified and secure direct deposit management solution to millions of American workers. This collaboration will allow Atomic to offer OneSource Virtual customers an enhanced level of control and flexibility over their financial lives.

OneSource Virtual: A Fast-Growing BPaaS Provider

OneSource Virtual is a recognized partner of Workday, and it is rapidly expanding as a business process-as-a-service (BPaaS) provider. OSV manages over 1,000 customers and processes transactions worth more than $150 billion annually. Its primary role is to streamline administrative challenges associated with payroll, taxes, benefits, and accounts payable, catering to both national and regional employers. With the launch of their digital wallet, myFlexWallet, OSV is now equipped to offer tools and services that enhance the financial health and well-being of their customers.

Atomic and OSV: A Partnership Aligned with CFPB’s Rule 1033

This collaboration between Atomic and OSV aligns with the Consumer Financial Protection Bureau’s (CFPB) Rule 1033, promoting financial connectivity and empowering individuals with increased control over their direct deposit information. Atomic’s role in the partnership is pivotal, leading the industry’s transformation into a more interconnected and secure ecosystem. This allows financial institutions to acquire new account holders and establish primary banking relationships. Notably, four of the top 10 financial institutions rely on Atomic to offer the most secure and highest-converting direct deposit switch solution.

Atomic’s Integration with OSV’s Digital Wallet System

Atomic’s integration with OSV’s digital wallet system simplifies the process of updating direct deposit information through Atomic’s CoAuth Technology. This eliminates the need for payroll passwords and traditional login processes, significantly enhancing user experience and operational efficiency. CoAuth technology provides a superior user experience for account holders and reduces the obstacles associated with switching financial institutions. For secure identity verification, users benefit from convenient two-factor authentication methods within CoAuth.

Uniting the Financial Ecosystem

Atomic is leading the way in uniting the financial ecosystem, encouraging collaboration between fintechs and banks to shape a more open and interconnected financial system. With several promising partnerships on the horizon, including collaborations with some of the industry’s largest payroll providers, Atomic is demonstrating a steadfast commitment to establishing a transparent, accessible, and improved financial landscape for consumers.