Financial Institutions can now provide gamified onboarding and personalized engagement to customers through Q2’s Digital Banking Platform
Swaystack, a gamified onboarding switch kit and personalized engagement platform, is proud to announce its 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 will be able to purchase Swaystack and then offer gamified onboarding and personalized engagement via the Q2 Digital Banking Platform, to tackle the 44% of newly opened accounts that go inactive within the first year.
The Q2 Partner Accelerator is a program through the Q2 Innovation Studio that allows in-demand financial services companies who are leveraging the Q2 Software Development Kit (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.
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“Swaystack is honored to join the Q2 Partner Accelerator program, furthering our mission to help banks and credit unions compete with neobank and megabank personalized onboarding and engagement,” said Har Rai Khalsa, Swaystack’s CEO and Co-founder. “Banks and credit unions face a dual strain: coming out of pocket to acquire account holders, while nearly half of those accounts go inactive. In an effort to win primary financial institution and top of wallet status, we must earn the direct deposit relationship and help consumers put their card on-file with popular merchants.”
What are the primary reasons new accounts go inactive?
• Funding never happens
• Direct deposit never gets set up
• Debit cards are seldom used
Swaystack’s integration with the Q2 Digital Banking Platform means banks and credit unions can deliver gamified onboarding and personalized engagement day one to deal with the most common challenges that financial institutions face when onboarding new customers:
• Funding: Facilitate immediate funding with Instant Account Verification (IAV)
• Direct Deposit: Switch direct deposit seamlessly by connecting with payroll providers
• Debit Card Usage: Update card-on-file with APIs to popular merchants
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