Core Insights - nCino partners with Pinwheel to enhance account activation and primary banking relationships through integrated deposit switching solutions [1][2][5] - Pinwheel's technology significantly improves deposit switch conversion rates, outperforming competitors by 30% [2] - The integration addresses consumer hesitance in switching banks due to the complexities of direct deposit transfers, with over 40% of new accounts remaining inactive [3] Partnership Details - The partnership will create an integration between nCino's Consumer Banking Solution and Pinwheel Deposit Switch, streamlining the account activation process for banks and credit unions [2][5] - Pinwheel's PreMatch feature simplifies the direct deposit switching process to a two-click experience, enhancing user convenience [4] Market Opportunity - A significant 70% of consumers express willingness to switch banks if direct deposits could be transferred instantly, indicating a strong market demand for improved banking solutions [5] - Pinwheel's extensive network includes over 1,800 payroll platforms, covering nearly all U.S. workers paid via direct deposit, positioning it as a leader in the direct deposit switching market [3][6] Company Background - Pinwheel has raised $77 million from notable investors and provides tools for banks and fintechs to facilitate deposit switching and bill management [6]

To learn more about Pinwheel and the Q2 Innovation Studio Partner Accelerator Program, please click here. About Pinwheel Pinwheel allows banks and credit unions to offer instant direct deposit switching during the account onboarding journey. Post this As part of the Q2 Partner Accelerator Program, financial institutions can access Pinwheel's exclusive data network of payroll providers, enabling access to income and employment data across 1,800 platforms, covering up to 100% of US workers paid via direct dep ...