Q2 Holdings Launches Open API Innovation Platform for Financial Services
AUSTIN, Texas (May 10, 2016) Q2 Holdings, Inc. (NYSE: QTWO), a leading provider of secure virtual banking solutions for regional and community financial institutions, today announced the launch of CorePro, its cloud-based, open API platform for developers, financial services providers and emerging financial technology companies. CorePro has been a multiyear initiative and is the first offering of Q2 Labs, a newly formed product group focused on spearheading digital-first financial services strategies leveraging the CorePro platform.
“Q2 believes in empowering banks, credit unions, fintech companies and the development community with the easy-to-use, cost-effective tools they need to implement innovative new products, particularly for the fastest growing segment in the market today: millennials”
Designed from the outset for the cloud, CorePro provides developers and user experience (UX) teams the first bank-compliant open API platform they need to rapidly design, create, test and deploy their own applications around financial services products such as goal-driven savings, high-yield savings, money market deposit accounts, CDs and DDA accounts with debit cards.
CorePro offers access to the most critical components of a digital-first banking strategy without the complexity and high-cost of legacy core processing systems. The API is designed to acquire and service deposit accounts at a fraction of the cost, and give customers and clients the agility they need to innovate at their pace utilizing in-house staff, third parties or the Q2 Labs team to help bring their ideas to life.
“Q2 believes in empowering banks, credit unions, fintech companies and the development community with the easy-to-use, cost-effective tools they need to implement innovative new products, particularly for the fastest growing segment in the market today: millennials,” said Matt Flake, CEO of Q2 Holdings. “With CorePro, we are encouraging advances within financial services more broadly than ever before, reducing the cost and time to market while dramatically improving opportunity to improve the overall user experience which will help our customers compete and grow.”
CorePro bridges the gap between traditional financial institutions, which remain at the heart of Q2’s focus, and emerging financial services companies. With CorePro, clients can begin to profitably onboard and serve historically difficult demographic segments to bank, and can deliver goal-based savings accounts through Q2’s UUX platform, increasing engagement around savings, planning and overall financial literacy for account holders.
CorePro is currently in use by entities such as Sallie Mae, H&R Block and Qapital—which has partnered with Iowa-based Lincoln Savings Bank as its bank of record.
“Working with a modern, API-based, fully compliant platform like CorePro is critical to Qapital,” said Erik Akterin, co-founder and CTO of Qapital. “Using CorePro, we designed, developed and launched our product with speed and confidence, letting us focus on what Qapital does best: Deliver an amazing customer experience.”
To learn more about CorePro and Q2 Labs, click here.
About Q2 Holdings, Inc.
Q2 Holdings, Inc. (Q2) is a leading provider of secure, cloud-based virtual banking solutions headquartered in Austin, Texas. Q2 enables community financial institutions to effectively engage with retail and commercial account holders with the most comprehensive and adaptable smart banking platform of its kind. Q2’s solutions are designed to deliver a compelling, consistent user experience on any device and enable customers to improve account holder retention and to create incremental sales opportunities. To learn more about Q2, visit www.q2ebanking.com.
Red Fan Communications
Emma Chase, 512,551-9253