We're excited to share that Truv has partnered with Q2 to bring direct deposit switching capabilities to Q2 Innovation Studio. This integration gives banks and credit unions a simpler way to help account holders set up or switch direct deposit as part of the digital onboarding experience.
The integration enables financial institutions powered by Q2 Digital Banking to leverage Truv's payroll-based Direct Deposit Switch, designed to help customers transfer their pay deposits in real time, quickly and intuitively. Built on Truv's expansive payroll network — covering 96% of the U.S. workforce, over 2.3+ million employers, and 300,000+ employer–payroll provider mappings — the API-powered solution minimizes the steps needed to connect payroll data during the account setup and deposit switching process.
To cover 100% of switches, Truv's solution has a built-in HR form fallback that ensures customers can still complete a direct deposit switch in the same user experience, reducing drop-offs and improving conversion rates.
By combining Truv's payroll network with the Q2 Innovation Studio, banks and credit unions can accelerate onboarding, deepen engagement, and deliver a more compelling value proposition to both new and existing customers.
"Direct deposit switching has become a defining moment in the digital onboarding journey," said Kirill Klokov, CEO of Truv. "By bringing Truv's payroll connectivity and HR form fallback into Q2's platform, we're helping financial institutions remove friction, improve activation rates, and create better outcomes for their customers."
Getting Started
As a part of Q2 Innovation Studio, Truv is now available in Q2 digital banking platform, making it easier for banks and credit unions to embed Truv's <60 second digital switching solution directly in their workflow. Contact the Truv team to learn more.
