AUSTIN, Texas – (COMMERCIAL THREAD) – Q2 Holdings, Inc. (NYSE: QTWO), a leading provider of digital transformation solutions for banking and credit, today announced the launch of its new Q2 Innovation Studio solution to help banks and credit unions to quickly and efficiently deliver differentiated experiences to their end users. Built on Q2’s flexible, modern and open digital banking platform, Q2 Innovation Studio enables financial institutions (FIs) to innovate faster to meet the needs and expectations of their account holders.
The Q2 Innovation Studio is a portfolio of technologies and programs that FIs and Q2 fintech partners can leverage to design, develop and distribute innovative digital banking products, services and features. The Q2 Innovation Studio, built with the award-winning Q2 SDK, which more than 400 banks and credit unions take advantage of to deliver thousands of differentiated experiences, enables banks and credit unions to deliver applications and services to their account holders with unprecedented speed, ease and flexibility. Additionally, thanks to the Q2 Marketplace and Partner Accelerator programs, FIs can now quickly select and deploy pre-integrated applications, without investing in development and implementation resources or the tedious assessment process.
The Q2 Innovation Studio also offers programs designed to help FinTech companies and other technology vendors increase the speed of sales and minimize customer acquisition costs with a single integration, marketing support and integrated business. The Q2 Innovation Studio provides businesses with access to a vast network of over 450 banks and credit unions as well as their ~ 18.3 million account holders and ~ 1.75 million business accounts. This access to FIs and account holders enables Q2 partners to drive more business and deploy these integrations in new and innovative ways, which accelerates revenue generation and scalability.
“The financial services industry as a whole faces a compelling need to innovate faster and deliver differentiated offerings quickly, to meet the changing expectations of their account holders,” said Adam Blue, Chief Technology Officer, Q2. “Banks, credit unions and fintechs all have big ideas and want to come up with new, personalized product offerings, but the old legacy model of innovation is broken and inefficient – it just takes too long and costs too much. expensive. The Q2 platform with Innovation Studio enables companies to control their innovation roadmap and deliver new applications, services and experiences faster.
“Q2 figured out how to solve a problem that banks and credit unions are facing – there are many fintech offerings out there and we have limited ability to activate the features or solutions they offer with our current major vendors,” Shon said. Cass, executive vice president, corporate sales and services, Texas Security Bank. “Things are moving fast. You can’t follow, you have to be ahead of the pack, and Q2 is helping us to do that. Q2 found the technology and did the hard work so that we could just activate it. For example, when we decided to offer our SME customers the Autobooks application via the marketplace, it was painless. It was almost so easy; it was scary. With the second quarter, I’m amazed at how we’re going to be able to leverage technology faster and better than we could in the past.
According to Ron Shevlin, director of research at Cornerstone Advisors and principal contributor to Forbes, “Financial institutions need to create new revenue streams from new products and services already created by fintech startups, and fintech startups need financial institutions to help them scale quickly. Until recently, however, one piece was missing: a platform that fintechs can integrate into.
The main customer benefits of Q2 Innovation Studio are:
- Enable faster innovation and differentiated experiences – The Q2 Innovation Studio powered by the Q2 digital banking platform, which includes more than 2,000 extensions, enables banks and credit unions to quickly customize and deliver personalized services to meet the changing demands of their cardholders account. By leveraging new fintech innovations, FIs can increase account holder engagement, satisfaction and retention
- Scale and extensibility beyond internal resources – Access a larger development ecosystem by leveraging Q2-certified third-party developers to supplement internal resources and dramatically increase the speed of differentiated service delivery
- Faster time to market and cost savings – Through the Q2 Partner Accelerator program, FIs can provide end users with any innovative financial technology application related to the financial journey by rapidly selecting and deploying pre-integrated applications. These integrations do not require development resources and Q2 products, which speeds time to market. FIs can work with these partners to purchase their solutions and quickly deploy standardized integrations
- A new business model for FIs to generate non-interest income – The Q2 Partner Marketplace combines the best of digital banking and e-commerce by creating an app store-like experience that allows FIs to assess, select and deploy from a catalog of pre-integrated third-party products. This unique business model allows FIs to offer these products through an end-user buy-to-market model, allowing FIs to generate non-interest income without the initial investment required by the FI.
For more information on Q2 Innovation Studio:
For financial institutions: Q2 Innovation Studio
For Fintechs: Q2 Innovation Studio
Register for our upcoming webinars:
July 27, 2021: Q2 Partner Accelerator: a new paradigm for Fintech partnership
July 29, 2021: T2 Partner Marketplace: an integrated App Store for financial applications
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 United States and internationally. With complete end-to-end solution sets, Q2 enables its partners to deliver consistent, secure, and data-driven experiences to every account holder – from consumer to small businesses and businesses. Based in Austin, Texas, Q2 has offices around the world and is listed on the New York Stock Exchange under the ticker symbol QTWO. To learn more, please visit Q2.com.