- Q2 is leveraging Bits of Inventory’s expertise to assist its monetary establishment purchasers reward their clients with fractional shares of inventory.
- The partnership was made attainable by the Q2 Associate Accelerator Program, which makes it straightforward for fintechs to succeed in Q2’s monetary establishment purchasers.
- Bits of Inventory showcased its rewards platform alongside its shopper OMB Financial institution at FinovateFall final yr.
Q2’s monetary providers purchasers have a brand new solution 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 providers purchasers 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 interact their accountholders by rewarding them with fractional shares of their alternative of inventory. This allows youthful customers to construct up their inventory portfolios by microinvesting. Along with in the present day’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 price 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 providers for shoppers at scale.”
The partnership was made attainable by the Q2 Associate Accelerator Program, an initiative inside the Q2 Innovation Studio that enables monetary providers firms like Bits of Inventory to leverage Q2’s SDK to combine their expertise into the Q2 Digital Banking Platform. This system not solely creates a simple manner for third celebration fintechs to combine into Q2’s platform, nevertheless it additionally helps Q2’s financial institution purchasers 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 Alternate below the ticker QTWO, and has a market capitalization of greater than $2.43 billion.
Bits of Inventory showcased its rewards platform alongside its shopper OMB Financial institution at FinovateFall final yr. 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.
