Pinwheel Announces Integration With Q2's Digital Banking Platform
Pinwheel has announced an integration with Q2's Digital Banking Platform (NYSE: QTWO) through the Q2 Partner Accelerator Program.
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Rhea-AI Summary
Pinwheel has announced an integration with Q2's Digital Banking Platform (NYSE: QTWO) through the Q2 Partner Accelerator Program. The integration enables financial institutions to offer instant direct deposit switching during account onboarding.
Through Pinwheel's data network covering 1,800 payroll providers, banks and credit unions can access income and employment data for up to 100% of US workers paid via direct deposit. This addresses a significant challenge, as research indicates 40% of newly opened accounts are never activated due to complications with direct deposit switching.
The integration via Q2's Partner Accelerator program allows financial institutions to embed 1-click deposit switching, streamlining the account activation process and improving customer experience.
Positive
- Integration expands market reach through Q2's Digital Banking Platform
- Access to comprehensive payroll data network covering 1,800 providers
- Solution addresses 40% account activation failure rate
Negative
- None.
Details
News Market Reaction – QTWO
The recorded move for QTWO in the trading session of this news was +1.96%.
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Financial Institutions can now provide Pinwheel's embedded 1-click deposit switching to customers through Q2's Digital Banking Platform
As part of the Q2 Partner Accelerator Program, financial institutions can access Pinwheel's exclusive data network of payroll providers, enabling access to income and employment data across 1,800 platforms, covering up to
Research shows that
"Removing friction from the deposit switching process is critical for financial institutions to boost activation rates and secure primacy," said Brian Karimi-Pashaki, Head of Revenue at Pinwheel. "We're thrilled to help Q2 customers take advantage of Pinwheel Deposit Switch by making it available through Q2's Partner Accelerator Program. We are committed to helping credit unions and banks offer the best possible customer experience."
The Q2 Partner Accelerator program through the Q2 Innovation Studio allows in-demand financial services companies leveraging the Q2 SDK to pre-integrate their technology to the Q2 Digital Banking Platform. This enables financial institutions to work with these partners, purchase their solutions and rapidly deploy their standardized integrations to their customers.
To learn more about Pinwheel and the Q2 Innovation Studio Partner Accelerator Program, please click here.
About Pinwheel
Pinwheel helps banks, CUs and fintechs win primacy with embedded 1-click deposit switching and bill management tools. Through an exclusive data network of payroll providers, Pinwheel enables access to income and employment data across 1,800 platforms (covering up to
About Q2 Holdings, Inc.
Q2 is a leading provider of digital transformation solutions for financial services, serving banks, credit unions, alternative finance companies, and fintechs in the
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SOURCE Pinwheel
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