Q2 is leveraging Bits of Inventory’s know-how to assist its monetary establishment shoppers reward their clients with fractional shares of inventory.
The partnership was made potential by way of the Q2 Associate Accelerator Program, which makes it straightforward for fintechs to succeed in Q2’s monetary establishment shoppers.
Bits of Inventory showcased its rewards platform alongside its consumer OMB Financial institution at FinovateFall final 12 months.
Q2’s monetary companies shoppers have a brand new method to reward their shoppers. That’s as a result of fractional inventory rewards platform Bits of Inventory has teamed up with the digital banking and lending options firm.
With Q2’s Digital Banking Platform, Q2’s monetary companies shoppers can provide their clients fractional inventory after they redeem loyalty factors or as a reward for sure actions like making a transaction with their debit or bank card, opening an account, making use of for a mortgage, or making a deposit.
“We’re happy to welcome Bits of Inventory to the Q2 Associate Accelerator program,” stated Q2 Innovation Studio Managing Director Johnny Ola. “Monetary Establishments now can provide fractional shares as rewards on account spend and exercise.”
Bits of Inventory goals to assist neighborhood monetary establishments and credit score unions have interaction their accountholders by rewarding them with fractional shares of their alternative of inventory. This permits youthful customers to construct up their inventory portfolios by microinvesting. Along with at the moment’s partnership with Q2, the New York-based firm additionally has partnerships with Jack Henry, OMB Financial institution, Strata Credit score Union, Gravy Stack, and others.
“This partnership is a worth multiplier for patrons, Q2, and Bits of Inventory,” stated Bits of Inventory CEO Arash Asady. “Each firms are dedicated to discovering progressive methods to empower monetary companies for shoppers at scale.”
The partnership was made potential by way of the Q2 Associate Accelerator Program, an initiative throughout the Q2 Innovation Studio that enables monetary companies firms like Bits of Inventory to leverage Q2’s SDK to combine their know-how into the Q2 Digital Banking Platform. This system not solely creates a simple means for third social gathering fintechs to combine into Q2’s platform, but it surely additionally helps Q2’s financial institution shoppers leverage a variety of recent options that they’ll rapidly deploy to their clients.
Based in 2004 and headquartered in Austin, Texas, Q2 claims greater than 40% of the highest 10 banks within the U.S. as clients. The corporate’s platform reaches one out of 10 digital banking clients in America. Q2 went public in 2014 and is now traded on the New York Inventory Change underneath the ticker QTWO, and has a market capitalization of greater than $2.43 billion.
Bits of Inventory showcased its rewards platform alongside its consumer OMB Financial institution at FinovateFall final 12 months. The 2 demoed OMB Financial institution’s Inventory Rewards Checking Account that rewards cardholders within the fractional inventory of their alternative each time they swipe their card. Bits of Inventory was based in 2016 and has acquired $5.9 million in funding.
