Pinwheel, the fintech helping financial institutions win primacy with frictionless account activation and engagement products, announced an integration with Q2’s Digital Banking Platform, via the Q2 Partner Accelerator Program. Q2 Holdings, Inc. (NYSE: QTWO) is a leading provider of digital transformation solutions for banking and lending.
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 100% of US workers paid via direct deposit. With this integration via the Q2 Digital Banking Platform, banks and credit unions can provide consumers with instant direct deposit switching within their account onboarding journey.
Research shows that 40% of newly opened accounts are never activated, largely due to customer frustration with the current direct deposit switching process. Pinwheel’s integration with the Q2 Digital Banking Platform means all Q2 customers can embed 1-click deposit switching.
“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.