We recently chatted with Austin-based Q2 (formerly Q2ebanking) to find out what its team has been up to since demoing at Finovate. We also wanted to get a closer look at the recent announcement of its partnership with PFM solutions provider, Geezeo.
- Headquarters: Austin, TX
- Employees: 360 with plans to hire 40 more by year end
- Funding: $20 million
- Number of FI clients: Just under 400
- Clients include: Umpqua Bank, Urban Partnersip Bank, and Eli Lilly FCU
- End users: Just under 3 million
At FinovateSpring 2011, Q2 demoed its Risk & Fraud Analysis to help FIs defend against account takeover in ACH, wire, and external transfers. Since then, the Austin-based company has been quite busy. Here is a sample of what it has been up to:
1) Enhanced security: Q2 is the only online banking provider that has built its own security solution into its platform.
2) Q2Clarity: This new solution provides bank executives with easy-to-digest visuals of how their customers are using online and mobile banking platforms. Graphs show logon rates, mobile device usage, and more.
3) Tablet: A step further into mobile development allows end users to perform daily banking tasks, including mobile bill pay, remote deposit capture, and mobile enrollment.
Integrating Geezeo’s PFM with Q2’s e-banking platform will provide users easy access to their spending summary. Financial institutions will have the option to customize how they want Geezeo’s PFM to look inside their online banking experience. For example, it can appear on a sidebar on the homepage, or be located under a separate tab.
People’s Bank of Alabama is the first to adopt this new platform, and Q2 is in the process of on-boarding additional customers.
Q2’s next innovation will focus on Big Data marketing. Retail banks will be able to use data gathered from client interactions to cross-sell and up-sell to customers.
Q2 demoed at FinovateSpring 2011. Check out the demo video here.