Pinwheel Q2 Taps to facilitate direct deposit switching process

The Fintech Pinwheel company has announced an integration with the Q2 digital banking platform, with the aim of supporting the switching of instant direct deposits.

This alliance is provided through the Q2 partnership accelerator program.

Using the Pinwheel Data Network of Payroll Suppliers, Banks and Credit Cooperatives can obtain 1,800 platform income and employment data.

This covers up to 100% of all North -Americans who receive direct deposit payments.

Integration allows financial suppliers to offer consumers a rationalized process to change direct deposits during the on -board account.

The research indicates that 40% of the new accounts are kept inactive, mainly due to difficulties associated with the direct deposit switching process.

The collaboration between Pinwheel and Q2 allows all Q2 customers to implement a deposit switching function for a click.

Pinwheel’s head of income, Brian Karimi-Pashaki, said: “The removal of the friction of the deposit switching process is essential for financial institutions to increase activation rates and security primacy.

“We are happy to help Q2 customers take advantage of Pinwheel’s deposit deposit switch making it available through the Q2 partnership accelerators program. We are committed to helping credit cooperatives and banks offer the best possible customer experience.”

The Q2 partnership accelerator program, facilitated by Q2 Innovation Studio, allows financial services companies to integrate their technologies with the Q2 digital banking platform.

This initiative supports financial institutions to adopt new solutions and efficiently standardized.

In October 2024, Pinwheel Bill Navigator enteredA subscription management tool to help banks and financial institutions save their customers in unused subscriptions.

“Pinwheel Taps Q2 to facilitate the direct deposit switching process” was created and published originally International retail bankera brand of Globaldata property.

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