Pinwheel taps Q2 to ease direct deposit switching process

Fintech institution Pinwheel has announced an integration with Q2's Digital Banking Platform, aiming to enactment instant nonstop deposit switching.

This confederation is facilitated via the Q2 Partner Accelerator Program.

Using Pinwheel's information web of payroll providers, banks and recognition unions tin get income and employment information from 1,800 platforms.

This covers up to 100% of each US workers who person nonstop deposit payments.

The integration allows fiscal providers to connection consumers a streamlined process for switching nonstop deposits during relationship onboarding.

Research indicates that 40% of caller accounts stay inactive, chiefly owed to difficulties associated with the nonstop deposit switching process.

The collaboration betwixt Pinwheel and Q2 enables each Q2 customers to instrumentality a one-click deposit switching feature.

Pinwheel gross caput Brian Karimi-Pashaki said: “Removing friction from the deposit switching process is captious for fiscal institutions to boost activation rates and unafraid primacy.

“We're thrilled to assistance Q2 customers instrumentality vantage of Pinwheel Deposit Switch by making it disposable done Q2's Partner Accelerator Programme. We are committed to helping recognition unions and banks connection the champion imaginable lawsuit experience.”

The Q2 Partner Accelerator Programme, facilitated by the Q2 Innovation Studio, allows fiscal services companies to integrate their technologies with the Q2 Digital Banking Platform.

This inaugural supports fiscal institutions successful adopting caller solutions and deploying standardised integrations efficiently.

In October 2024, Pinwheel introduced Bill Navigator, a subscription absorption instrumentality aimed astatine helping banks and fiscal institutions prevention their customers wealth connected unused subscriptions.

"Pinwheel taps Q2 to easiness nonstop deposit switching process" was primitively created and published by Retail Banker International, a GlobalData owned brand.

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