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. 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.
Pinwheel ha annunciato un'integrazione con la piattaforma di digital banking di Q2 (NYSE: QTWO) tramite il programma Q2 Partner Accelerator. Questa integrazione consente agli istituti finanziari di offrire il cambio immediato del deposito diretto durante l'apertura del conto.
Attraverso la rete dati di Pinwheel, che copre 1.800 fornitori di servizi paghe, banche e cooperative di credito possono accedere ai dati di reddito e occupazione per fino al 100% dei lavoratori statunitensi pagati tramite deposito diretto. Questo risolve una sfida importante, poiché le ricerche mostrano che il 40% dei nuovi conti aperti non viene mai attivato a causa di complicazioni nel cambio del deposito diretto.
L'integrazione tramite il programma Q2 Partner Accelerator permette agli istituti finanziari di integrare il cambio del deposito con un solo clic, semplificando il processo di attivazione del conto e migliorando l'esperienza del cliente.
Pinwheel ha anunciado una integración con la plataforma de banca digital de Q2 (NYSE: QTWO) a través del programa Q2 Partner Accelerator. Esta integración permite a las instituciones financieras ofrecer el cambio instantáneo de depósito directo durante la apertura de la cuenta.
A través de la red de datos de Pinwheel, que cubre a 1.800 proveedores de nómina, bancos y cooperativas de crédito pueden acceder a datos de ingresos y empleo de hasta el 100% de los trabajadores en EE. UU. que reciben pagos mediante depósito directo. Esto resuelve un desafío importante, ya que las investigaciones indican que el 40% de las cuentas nuevas abiertas nunca se activan debido a complicaciones con el cambio de depósito directo.
La integración a través del programa Q2 Partner Accelerator permite a las instituciones financieras incorporar el cambio de depósito con un solo clic, agilizando el proceso de activación de la cuenta y mejorando la experiencia del cliente.
Pinwheel은 Q2 파트너 액셀러레이터 프로그램을 통해 Q2의 디지털 뱅킹 플랫폼(NYSE: QTWO)과의 통합을 발표했습니다. 이 통합으로 금융 기관은 계좌 개설 시 즉시 급여 이체 변경 서비스를 제공할 수 있게 되었습니다.
Pinwheel의 데이터 네트워크는 1,800개 급여 제공업체를 포함하며, 은행과 신용조합은 직접 입금으로 급여를 받는 미국 근로자 100%의 소득 및 고용 데이터를 이용할 수 있습니다. 이는 직접 입금 변경의 복잡성으로 인해 새로 개설된 계좌의 40%가 활성화되지 않는 문제를 해결합니다.
Q2 파트너 액셀러레이터 프로그램을 통한 통합으로 금융 기관은 원클릭 입금 전환 기능을 탑재하여 계좌 활성화 과정을 간소화하고 고객 경험을 향상시킬 수 있습니다.
Pinwheel a annoncé une intégration avec la plateforme bancaire numérique de Q2 (NYSE : QTWO) via le programme Q2 Partner Accelerator. Cette intégration permet aux institutions financières d'offrir un changement instantané de dépôt direct lors de l'ouverture de compte.
Grâce au réseau de données de Pinwheel couvrant 1 800 fournisseurs de paie, les banques et coopératives de crédit peuvent accéder aux données de revenus et d'emploi jusqu'à 100 % des travailleurs américains rémunérés par dépôt direct. Cela répond à un défi majeur, car les recherches indiquent que 40 % des comptes nouvellement ouverts ne sont jamais activés en raison de complications liées au changement de dépôt direct.
L'intégration via le programme Q2 Partner Accelerator permet aux institutions financières d'intégrer un changement de dépôt en un clic, simplifiant ainsi le processus d'activation du compte et améliorant l'expérience client.
Pinwheel hat eine Integration mit der Digital Banking Plattform von Q2 (NYSE: QTWO) über das Q2 Partner Accelerator Programm angekündigt. Die Integration ermöglicht es Finanzinstituten, während der Kontoeröffnung einen sofortigen Wechsel der direkten Einzahlung anzubieten.
Durch Pinwheels Datennetzwerk, das 1.800 Gehaltsanbieter abdeckt, können Banken und Kreditgenossenschaften auf Einkommens- und Beschäftigungsdaten von bis zu 100 % der US-Arbeitnehmer zugreifen, die per direkter Einzahlung bezahlt werden. Dies löst eine bedeutende Herausforderung, da Untersuchungen zeigen, dass 40 % der neu eröffneten Konten aufgrund von Problemen beim Wechsel der direkten Einzahlung nie aktiviert werden.
Die Integration über das Q2 Partner Accelerator Programm ermöglicht es Finanzinstituten, einen Ein-Klick-Wechsel der Einzahlung einzubetten, was den Kontoaktivierungsprozess vereinfacht und die Kundenerfahrung verbessert.
- 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
- None.
Insights
Pinwheel's integration with Q2's banking platform addresses the 40% account non-activation problem through 1-click deposit switching capability.
This new integration between Pinwheel and Q2 Holdings (NYSE: QTWO) addresses a significant pain point in digital banking onboarding. According to the article,
Pinwheel's technology connects to 1,800 payroll platforms, covering up to
For Q2, this integration enhances their platform's value proposition through their Partner Accelerator Program within the Q2 Innovation Studio. The program pre-integrates partner technologies like Pinwheel's, enabling financial institutions to deploy these capabilities more rapidly to their customers.
While this partnership represents a positive enhancement to Q2's digital banking capabilities, addressing a documented friction point for their clients, the announcement doesn't include details about implementation timelines, costs to financial institutions, or any revenue-sharing model between the companies.
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
FAQ
What does the Pinwheel and Q2 (QTWO) integration mean for banking customers?
How many payroll providers does Pinwheel's network cover through Q2's platform?
What percentage of new bank accounts fail to activate without streamlined deposit switching?
How do financial institutions access Pinwheel's deposit switching through Q2 (QTWO)?
