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]

Core Insights - Pinwheel enables banks and credit unions to offer instant direct deposit switching during account onboarding, enhancing customer experience and activation rates [1][3] - The integration with Q2 Digital Banking Platform allows financial institutions to access a vast data network of payroll providers, covering up to 100% of US workers paid via direct deposit [1][5] - Research indicates that 40% of newly opened accounts remain inactive due to frustrations with the direct deposit switching process, highlighting the need for streamlined solutions [2] Company Overview - Pinwheel provides embedded 1-click deposit switching and bill management tools, leveraging a data network that includes 1,800 payroll platforms and over 1.5 million employers [5] - The company has raised $77 million from notable investors, indicating strong market confidence and potential for growth [5] - Q2 Holdings, Inc. is a leading provider of digital transformation solutions for financial services, enabling comprehensive digital engagement for various financial institutions [6]