06/28/2022 | Press release | Distributed by Public on 06/28/2022 07:21
Quadrupled fintech integrations on the Q2 platform to 80+ solutions through the Q2 Innovation Studio, and 280 licenses signed by financial institutions
AUSTIN, Texas--(BUSINESS WIRE)-- Q2 (NYSE:QTWO), a leading provider of digital transformation solutions for banking and lending, today provided an update on the rapid expansion of its fintech partner ecosystem since launching the Q2 Innovation Studio in June 2021, quadrupling the number of fintech partners and deployments to financial institutions since launch. More than 80 fintech partners have selected Q2's digital banking platform to integrate with to offer their fintech solutions to financial institutions. More than 245 banks and credit unions have leveraged the Q2 Innovation Studio to extend their digital banking platform and partner with these innovative fintechs, such as Glia and Deluxe.
Built on Q2's flexible, modern and open digital banking platform, the Q2 Innovation Studio enables financial institutions to innovate faster to meet their account holders' needs and expectations while providing fintechs access to a vast network of approximately 450 banks and credit unions, and approximately 20 million account holders and members. The Q2 Innovation Studio also offers programs designed to help fintechs and other technology providers to increase sales velocity and minimize customer acquisition costs with one single integration with the Q2 platform, including built-in marketing and sales support. More than half of Q2's digital banking customer base is leveraging the Q2 Innovation Studio programs, and nearly 1,000 external developers from customers and partners are innovating on the Q2 platform.
"The Q2 Innovation Studio has been a game-changer for financial institutions and fintechs. The level of growth and success we've seen has been outstanding," said Jonathan Price, executive vice president of Emerging Businesses, Corporate & Business Development, Q2. "Q2's industry-leading digital banking platform and Innovation Studio enable financial institutions to deliver innovative, personalized digital banking services while seamlessly integrating with third-party fintech solutions. In Q1 2022, over 80 percent of our net new digital banking customers cited Q2 Innovation Studio as a key factor in choosing Q2's digital banking platform."
"We're giving small businesses the ability to streamline and modernize their once-complicated processes and systems," said Michael Reed, president of Payments for Deluxe HR & Payment Solutions, a partner of the Q2 Partner Marketplace. "Leveraging Deluxe's integration with Q2's digital banking platform, financial institutions are helping thousands of small businesses automate payroll, tax payments, hiring, and other HR offerings. Q2 Innovation Studio has allowed us to move faster than ever, with scalability we've never been able to provide before."
"We owe a special thanks to our partners at Q2 who created the Innovation Studio that is transforming how we leverage technology to connect with our members. The Q2 team are rockstars - together, we're strengthening the communities we serve!" said Tom Novak, vice president and chief digital officer of Visions Federal Credit Union, a Q2 Innovation Studio customer. Q2 has helped Visions triple the speed of its innovation lifecycle and saw an increase in adoption of financial management tools by members from 1,500 to more than 40,000, and approximately 14,000 Visions members have enrolled in credit score services through the Innovation Studio.
Key customer benefits of the Q2 Innovation Studio include the following:
For more information on the Q2 Innovation Studio, visit q2.com/innovation-studio-active-fi.
About Q2 Holdings, Inc.
Q2 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. With comprehensive end-to-end solution sets, Q2 enables its partners to provide cohesive, secure, data-driven experiences to every account holder - from consumer to small business and corporate. Headquartered in Austin, Texas, Q2 has offices throughout the world and is publicly traded on the NYSE under the stock symbol QTWO. To learn more, please visit Q2.com.
To learn more about how these financial institutions and fintech companies developed their innovation through Q2 Innovation Studio, please click here.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220628005813/en/
Cole Lanier
[email protected]
205-616-6142
Source: Q2 Holdings, Inc.