Digital banking solution developer Q2 Holdings has formed a partnership with Acorns, a micro-investing platform.
This partnership was formed under Q2 recently launched Open portfolio, which is a suite of open-API financial services technologies. The Open portfolio is built up of technologies for front and back-end solutions for debit card integrations, checking account functionality, savings, ledger functionality and billing.
Texas-headquartered Q2 is a digital banking solutions technology developer, that helps financial institutions support their consumers. The company solutions can support the consumer account services, build data and analytics, prevent fraud, or support online banking.
Acorns is a micro-investing app that automatically invests a user spare change to create low-cost diverse portfolios. A user links their accounts and cards to Acorns platform and then each transaction made by the consumer is rounded up and the extra is invested.
Q2 CEO Matt Flake said, ?Our industry landscape is evolving, and traditional financial institutions and new entrants alike need new technology to build modern financial tools. We believe many FinTech companies and traditional FIs share the goal of strengthening their communities, and were excited to provide them a common set of technology they can use to deliver on their respective missions.p>
Earlier in the year, Acorns picked up an undisclosed investment from TPG The Rise Fund. The investment, which was the fund first investment in FinTech, was raised to support the development of its products.
Last year, the WealthTech sector represented the sixth biggest area of FinTech to receive funding in the US, last year.
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