Pinwheel Partners With Q2 To Enhance Digital Banking Solutions

Pinwheel, a fintech company focused on making account setup and engagement easier, has teamed up with Q2’s Digital Banking Platform. Through the Q2 Partner Accelerator Program, this partnership gives financial institutions access to Pinwheel’s network of payroll providers.

This network covers nearly all US workers who are paid via direct deposit, with data from over 1,800 platforms. The goal is to make the direct deposit switching process easier, which is a key part of getting customers set up with their new accounts.

Pinwheel’s Integration Aims To Simplify Direct Deposit Switching

By adding Pinwheel’s 1-click deposit switching tool, financial institutions can help customers make the switch faster and more smoothly, removing common hurdles to account activation. This should help banks and credit unions avoid losing customers during the onboarding process.

Studies reveal that up to 40% of new accounts remain inactive, largely because customers get frustrated with the complicated process of switching their direct deposits. Pinwheel’s integration with the Q2 Digital Banking Platform is designed to change that narrative. By simplifying direct deposit switching, this solution helps banks boost customer engagement and foster stronger, lasting relationships.

The Q2 Innovation Studio helps partners quickly add their technology to the Q2 platform, giving customers a smoother experience. The Q2 Partner Accelerator Program also lets financial institutions use ready-to-go solutions from fintech companies like Pinwheel.

Account onboarding, often the first and most important step in gaining new customers, is one area being improved. The banking industry is going through a digital transformation, focusing on better customer experiences and faster, easier processes.

Pinwheel Wants Streamline Account Setup For Financial Institutions

Fintech companies like Pinwheel are becoming key partners for banks and credit unions, helping to remove barriers in processes like direct deposit switching. By using automation and strong data connections, these fintechs give banks the tools to speed up account activations, leading to more engaged and satisfied customers.

Pinwheel is focused on helping financial institutions improve the customer experience by making account setup and engagement easier. It offers tools for simple direct deposit switching and access to income and employment data through its payroll network. This support helps banks, credit unions, and fintechs create a smoother onboarding process for new customers.

Q2 is a top provider of digital solutions for financial services, working with banks, credit unions, alternative finance companies, and fintechs across the US and globally. The company helps clients offer data-driven digital services to individuals, small businesses, and large companies. Based in Austin, Texas, Q2 operates worldwide and is listed on the NYSE as QTWO.