September 21, 2021
Q2 and Plaid Partner to Provide Better Digital Banking Capabilities to Hundreds of Banks and Credit Unions
Since Plaid was founded, we’ve built products to help digitize the financial lives of customers regardless of where they bank. Nearly one quarter of accounts connected through Plaid are held at credit unions, community banks and other small financial institutions, and we care deeply about ensuring that these accounts are connected just as securely and reliably as accounts held at the largest financial institutions. This benefits tens of millions of consumers who bank at smaller institutions, their banks, as well as the more than 5,500 applications powered by Plaid.
Today, we’re excited to announce a new partnership with Q2 to enhance the digital financial lives of the millions of consumers who bank with financial institutions on the Q2 platform.
Q2 and Plaid: A shared mission to deliver the best digital banking experience
Plaid and Q2 both strive to deliver best-in-class digital experiences. Together, we’re launching a strategic partnership to provide Q2 customers with access to a range of new digital banking features, powered by Plaid.
As part of the partnership, Q2 will integrate into the Plaid Exchange platform, giving Q2’s 500 customers “zero-lift” access to the Plaid network. This means that account holders will have secure and reliable API-based access to the thousands of Plaid-powered fintech apps they rely on in their everyday financial lives. The integration will come at no cost to Q2 customers.
Beyond the Plaid Exchange integration, Q2 and Plaid’s partnership will give Q2’s bank and credit union customers access to the tools needed to build digital experiences that their account holders have come to expect. For example, many financial institutions see newly acquired customers leaving accounts dormant and empty following account opening. As a result of the partnership, Q2 financial institutions will use Plaid’s Auth and Identity APIs to provide their customers with a fast, easy digital account funding experience. New customers can link their existing bank accounts during the account opening process to fund new accounts within seconds, instead of waiting days for microdeposits.
At Plaid, our mission is to unlock financial freedom for everyone. To achieve this, we need to empower as many institutions as possible to provide their customers with secure and reliable ways for accessing their financial data and putting it to work to make money easier to manage. Partnering with Q2 helps us extend the reach of our network and products to many more financial institutions and expand access to digital financial services to millions of consumers across the US.
Are you a digital experience leader at a financial institution? At a technology provider serving financial institutions with digital capabilities? Want to learn more about this partnership?
To learn more about Plaid Exchange and partnering with our team, visit our website or email us at email@example.com. To inquire about integrating Plaid data products into your platform, contact us at firstname.lastname@example.org.