Rego Payment Architectures, Inc. announced today that it has launched the technical integration of its family digital wallet with Q2 Software’s Digital Banking platform. Austin, TX based Q2 Software, Inc. is a financial experience company dedicated to providing digital banking and lending solutions to banks, credit unions, alternative finance, and fintech companies in the U.S. and internationally.

Having announced the partnership between REGO and Q2 in March of 2023, the two organizations have since worked closely to integrate REGO’s fully white-labeled solution with Q2’s Developer Portal. Now, Q2’s network of over 450 financial institutions can develop and launch a family digital wallet program and integrate it into their Q2 digital experience.

This new offering will enable the children of customers and members to spend, save, donate and invest, all through their parent’s financial institution’s systems and brand. Additionally, financial institutions using REGO’s platform will benefit from enhanced child data privacy protections, as REGO is the only white-label digital wallet solution to be COPPA (Children’s Online Privacy Protection Act) Certified and GDPR compliant.

“As a fully white-labeled solution, REGO’s goal is to help financial institutions grow deposits, engage with a younger audience, and increase loyalty to their own brand, while leveraging their existing BIN and systems,” says Peter S. Pelullo, REGO’s CEO. “We value our partnership with Q2 and look forward to providing their financial institutional clients with a robust family digital wallet, a product that is in high demand by parents across the country.”

The need for improving financial literacy among children as well as youth banking capabilities continues to grow at a rapid rate. According to a report by Cornerstone Advisors, children between five and 17 years of age now have spending power of over $360 billion, making the youth segment a viable opportunity for banks and credit unions to connect with future customers or members.