Digital Marketplace Makes Collaboration Between Fintechs and Financial Institutions (FIs) Easy, Efficient, and Profitable
AUSTIN, Texas--(BUSINESS WIRE)--Q2 Holdings, Inc. (NYSE: QTWO), a leading provider of digital transformation solutions for banking and lending today announced that Q2 Partner Marketplace won Best of Show honors at FinovateFall 2020.
The pressure for financial institutions (FIs) to digitally transform their businesses has never been greater. However, FIs and their vendors must navigate traditional vendor business models and legacy technology to deliver innovation, making flexibility, cost, and speed to market key challenges in building and enhancing their digital brand experience.
Q2 Partner Marketplace was created in response to FIs’ demands to accelerate innovation delivery, enhance digital solutions, and enable new, alternative revenue opportunities. With Q2 Partner Marketplace, FIs enjoy an elegant app-store experience allowing them to evaluate, select, and deploy pre-integrated, branded third-party products with just a few clicks.
“We are thrilled to receive this award from the FIs and fintechs attending FinovateFall,” said Greg Varnell, Q2’s vice president of engineering. “Q2 Partner Marketplace has been built with years of input from bank and credit union leaders seeking a sophisticated, user-friendly app-store experience to accelerate innovation delivery and provide incremental, non-interest income and stickier, more engaged account holders. For fintechs, Q2 Partner Marketplace provides what they and their investors want most—a reliable, proven distribution channel that can fuel their growth with attractive customer acquisition opportunities.”
In today’s competitive banking market, with new entrants arriving every day, FIs need to deliver innovation and compelling experiences to their account holders – faster, and with fewer resources than ever before. Leveraging the comprehensive, proven industry integration methodology powering Q2’s banking platform, Q2 Partner Marketplace helps FIs accelerate innovation delivery, all from an elegant, customer-inspired interface. Additionally, because Q2 assembles a comprehensive portfolio of digital offerings from leading fintechs with proven experience, FIs are relieved of some of the challenges of sourcing, vetting, and implementing pre-integrated, complimentary third-party applications. Finally, with Q2 Partner Marketplace, FIs are now positioned to generate incremental non-interest income and increase engagement when their account holders elect to purchase one of the applications they offer.
Q2 Partner Marketplace provides fintechs a radically different go-to-market model. With a comprehensive, easy-to-use integration studio accessing nearly every layer of Q2’s market-leading UX digital banking platform, fintechs can finally integrate once and instantly access Q2’s broad base of participating customers and their account holders. With a single integration effort taking mere hours or days, Q2 Partner Marketplace allows fintechs to scale quickly, avoid expensive customer acquisition costs, and focus on delivering valuable innovation in the highly-attractive financial services technology sector.
The Best of Show Awards recognize the most innovative ideas and solutions in the financial technology space as voted on by FinovateFall attendees. Q2’s Marketplace demonstration ranked in the top five of 25 demonstrations.
Detroit-based Autobooks, a holistic product suite for small business banking, presented alongside Q2 at Finovate and was the first fintech to integrate into the Q2 Partner Marketplace. Autobooks is already live with multiple financial institutions via the Marketplace and has an accelerating pipeline of clients looking to go live by the end of 2020. The integration and deployment effort has been dramatically reduced, allowing FIs to deploy Autobooks to their customer base in weeks, not months.
Q2 is committed to helping FIs build and deepen account holder relationships with personalized digital experiences. Q2 Partner Marketplace will accelerate time to value for both FIs and fintechs while driving engagement and better serving account holders. Combining Marketplace with Q2’s digital banking platform capabilities enables FIs to deliver the seamless financial experiences their account holders expect in a world where digital banking is banking.
Learn more about Q2 Partner Marketplace.
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.
Q2 Holdings, Inc.