The FinX philosophy spans everything Q2 does, from product development and platform architecture to how we hire, and more
Tailoring a Flexible and Valuable Customer Experience
Today, business banking platforms are often one-size-fits-all solutions that force small businesses to purchase unnecessary features or larger ones to undergo advanced functionality.
We work with the traditional must-haves of digital banking such as feature functionality, operational excellence, integrations and add the next-generation of innovation including data-driven insights, open technology, and a unique approach to problem solving called design thinking
Q2’s Digital Banking Platform was specifically designed to be highly customizable and extensible. The company has embraced open APIs and cloud-based solutions that help their users to connect seamlessly to more than 40 core systems, as well as over 300 third-party solutions, for features like mobile deposit capture, payment processing, and personal financial management.
As every financial institution has its own needs, vendors, and capabilities—Q2 provides a range of implementation, customization, and development options to fit each of them. The company offers a comprehensive, full-stack software development kit, as well as APIs for add-on products and even a fully open core processor that enables users to build compliant banking products from scratch.
Bridge the Gap between Physical and Digital Banking Interactions
Q2 Human Digital Experience (HDX) provides back-office data and servicing capabilities to Financial Services Cloud via a managed package. This gives users a single, comprehensive CRM interface to manage customer relationships. Instead of juggling between multiple systems to meet account holders’ needs, Q2 HDX enables users to merge digital and in-person interactions to help them provide a seamless customer service.
By referencing the same screen as customers, enables admins to replicate their issues and help them make payments, deposits, transfers, and more. In addition, the company’s proprietary dispute management system helps u regulatory issues to bank partners. Q2’s pre-built integrations with leading KYC providers identify more fraudulent users and increase auto-approvals with the need to answer clunky “Out of Wallet”/ KBA questions. Admins can also originate ACHs to and from users’ external accounts to enable easy and cost-efficient account funding.
To further illustrate the efficacy of Q2’s platform, we cite a case study where a prominent bank in the USA serves account holders with high expectations—specifically, large business clients who demand complex commercial capabilities, as well as exceptional user experiences. Dedicated to meeting these requirements, the bank approached Q2 to evaluate and improve its processes and address account holder needs for a more efficient service. In reviewing the account holder experience, Q2 identified discrepancies between descriptions in online banking vs what would appear in the statements produced from the core; The bank needed to provide the back-office team with the ability to address this issue in real-time, among multiple vendors, without having to open support cases with third-party fintechs. Q2 identified adjustments that improved the account holder experience while creating efficiencies for bank staff. The company employed custom forms via its HDX platform to streamline back office functions. Q2 also implemented the Centrix Payments I.Q. System (CentrixPIQS™) to ensure compliance, mitigate risk and better manage ACH and other payment activity. By utilizing PIQS, the bank was able to reduce a considerable quantity of staffing hours and convoluted manual activities from the process.
Online Banking Simplified
In 2004, Hank Seale set out to build stronger and more diverse communities by strengthening their financial institutions. Seale knew that technology had massive potential to help financial institutions to transform their businesses, but the fragmented traditional approach of early internet banking vendors was only creating more cost and complexity for financial institutions to manage. Hank wanted to design a future-proof solution that could help financial institutions compete and grow, a single platform that integrated all of the financial institution’s legacy technology. Since then, the company has been designing and delivering software that creates meaningful financial experiences and supports lasting customer relationships. Today, one out of 10 digital banking customers in America uses Q2’s platform to support banking services.