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ModernFi has announced its integration with Q2's Digital Banking Platform via the Q2 Partner Accelerator Program. This collaboration enables banks and credit unions to offer accounts with extended deposit insurance, potentially enhancing deposit growth and retention.
The integration aims to eliminate operational friction and increase adoption of sweep and reciprocal programs. These programs, previously managed manually, will now be fully integrated into digital banking, offering a more streamlined experience.
ModernFi's integration is expected to help financial institutions strengthen their balance sheets by providing a non-rate solution to grow deposits. This move is particularly significant as financial institutions strive to compete with larger competitors and retain depositors within the banking sector.
The Q2 Partner Accelerator Program allows financial services companies to pre-integrate their technology into Q2's platform, enabling swift deployment to customers. This partnership is seen as a key step in modernizing and enhancing the usability of sweep and reciprocal programs.
Today, 29Eleven The Salon was declared the winner of the 2024 Austin FC Dream Starter Competition, presented by Q2 Holdings (NYSE: QTWO). This Austin-based startup, focusing on haircare services for people of color, will receive $100,000 in funding to grow its business. The competition supports Austin entrepreneurs from underrepresented backgrounds. 29Eleven The Salon addresses the lack of cosmetology training for curly and highly textured hair, which traditionally results in underserved communities. According to the salon's owner, Tiffany Wilson, the award will help them reach more clients requiring specialized hair care. The pitch contest, held on May 23 at Q2 Stadium, featured finalists such as Amiguitos Spanish Immersion Academy and The Breastfeeding Success Company. The winner will be honored during halftime at an Austin FC match on May 29. Previous winners include SocialNote, CDL Changing Lanes Driving School, and At Ease Rentals
Q2 Holdings (NYSE:QTWO) announced its annual customer conference, CONNECT 24, will occur from June 4-6, 2024, at the Austin Convention Center and Fairmont Hotel in Austin, TX.
The event will feature industry thought leaders, highlighting trends, innovations, and solutions in digital banking transformation for financial institutions.
Attendees will gain insights from dynamic speakers, network with peers and experts, and learn about Q2’s 2024 product roadmap, new releases, and feature enhancements.
Training sessions, product demonstrations, and best practices to mitigate risk and ensure compliance will also be offered.
Registrations are More details and the full agenda are available on the event page.
Q2 Holdings has launched Q2 Engage, a suite of consumer banking solutions aimed at helping financial institutions build personalized relationships with account holders. This suite integrates existing and new Q2 products to create tailored digital experiences, improving engagement and alignment with strategic goals such as growing deposits and promoting new products.
Q2 Engage utilizes data and AI to understand consumer needs, creating dynamic personal experiences and targeted campaigns. Key features include the Composable Dashboard, Audience Builder, Experience Builder, Getting Started extension, Add Account extension, and Task Manager. The new solutions aim to enable financial institutions to know, serve, and grow their customer relationships effectively.
Q2 Engage supports financial institutions in staying competitive by providing personalized, engaging experiences that adapt to consumer data and needs.
Q2 Holdings announced that nearly 60% of the banks featured on Forbes' America's Best Banks list are Q2 customers. Forbes' list evaluates the top 100 publicly traded banks based on ten financial metrics including net interest margin, return on average tangible common equity, and operating revenue growth, among others. Q2 provides digital transformation solutions for financial institutions, including digital banking platforms, loan and depository relationship pricing, account opening, and risk management solutions. CEO Matt Flake stated that this recognition highlights the strength of Q2's partnerships and the role of digital experiences in banking success.
Q2 Holdings, Inc. announced that Chairman R.H. Seale III will transition to Chairman Emeritus, with CEO Matt Flake succeeding him as the chairman of the board effective June 11, 2024. Seale, the founder of Q2, led the company's early growth and innovative financial solutions. Flake, as CEO, has driven significant growth and maintained the mission-driven culture established by Seale.
Q2 Holdings, Inc. announced its first quarter 2024 financial results, showing an 8% year-over-year revenue increase to $165.5 million. While GAAP gross margin improved to 49.7%, GAAP net loss was $13.8 million. Non-GAAP results also showed revenue growth and adjusted EBITDA of $25.2 million. The company signed multiple digital banking contracts, resulting in increased Subscription Annualized Recurring Revenue and Backlog. Q2's single-platform approach drove new customer wins and expansion opportunities, with a focus on retail, SMB, and commercial solutions.
