Bloom+ Is Now Part of Q2 Innovation Studio
Bloom Credit is proud that Bloom+ is included in Q2 Innovation Studio, the SDK-powered fintech ecosystem built into the Q2 Digital Banking Platform. Q2 is a leading provider of digital transformation solutions for financial services, and the inclusion brings Bloom+ and Bloom Credit’s consumer permissioned data capabilities directly to the financial institutions that rely on Q2 for their digital banking experience.
Q2 shared the news as part of a broader update on Innovation Studio’s growth. Five years after launch, more than 90% of Q2 digital banking customers now use the platform, and more than 450 banks and credit unions draw on its ecosystem of over 215 integrated partners. Bloom+ joins that ecosystem as a solution focused on financial health.
Why This Matters
Financial institutions on the Q2 platform are looking for ways to deepen account holder relationships and respond to changing expectations without adding new technical lift. Q2 Innovation Studio was built to solve exactly that problem, letting institutions deploy fintech partners through a single SDK rather than managing separate integrations one by one.
With Bloom+ included in Innovation Studio, banks and credit unions on Q2 can now offer Bloom+ as part of their existing digital banking experience.
What Bloom+ Brings to the Q2 Ecosystem
Bloom+ enables financial institutions to report consumer permissioned payment data, including rent, utilities, and telecom bills, from an account holder’s checking account to the credit bureaus. This creates new tradelines and can add up to 24 months of retroactive payment history, helping credit invisible and thin file consumers build credit without taking on new debt.
Bloom+ enrollees see meaningful results:
- Average initial credit score of 657 among enrollees with no credit history
- A 16 to 23 point credit score increase, often starting within 72 hours of enrollment
- 13% growth in deposits
- A 31% increase in bill pay engagement
- Retention above 98% after one year of enrolling in Bloom+
For institutions on the Q2 platform, these outcomes translate directly into deeper account holder relationships and stronger financial health outcomes, delivered through infrastructure they already use.
A Natural Fit for Q2’s Ecosystem Strategy
Bloom+ joins a growing group of Innovation Studio solutions, including Stablecore for digital assets, Glide for account opening, and LegalZoom for embedded legal services. Each solution addresses a different piece of the digital banking experience. Bloom+’s role is financial health, giving institutions a way to help account holders build credit using data those institutions already have on file.
Getting Started
Banks and credit unions on the Q2 Digital Banking Platform can now explore Bloom+ as part of their Innovation Studio options. Learn more on the Bloom+ Q2 Innovation Studio page or schedule a demo.
