Q2 Software Introduces Mobile Payment Authorization for Commercial Online Banking

July 6, 2007

Q2 Software Introduces Mobile Payment Authorization for Commercial Online Banking

New product release adds convenience and security for the mobile business manager

AUSTIN, TX, July 6, 2007– Q2 Software, Inc., a financial services technology company founded in late 2004, today announced the latest release of Q2Online™ and Q2Voice™, the company’s flagship electronic banking products. This release includes Q2Mobile Authorizations™, which provides commercial users with the ability to draft a transaction and request real-time mobile authorization from one or more eligible approvers in the company. Q2 is also introducing the Vendor Integration Framework, making it simple and cost-effective to integrate other customer-facing web applications behind a single online banking login. Additionally, the release includes comprehensive, configurable multifactor authentication (MFA) for IVR/Voice Banking, further enhancing Q2’s multi-factor offering. “Q2Mobile Authorization is not just an alert over your phone” says Scott Abeel, Vice President of Product Management at Q2 Software, “our solution allows the approver to review details of the drafted transaction and to securely approve the payment on the same received call”. Other commercial banking applications provide only courtesy e-mail alerts, still requiring the approver to go online to approve the transaction, or worse yet, tempting approvers to provide their credentials to the drafter, eliminating the security of dual approval. Abeel continues, “This new technology is designed to allow the manager to easily approve daily requests during the routine course of business, which isn’t always behind a desk on a computer. Because the phone is most accessible for the average mobile business manager, this feature significantly improves the convenience and security of the transaction approval process. Q2’s Mobile Banking strategy is two-sided: voice and data. Q2Mobile Banking is scheduled for release later this year, and will compliment the voice-based services we already support”. The Vendor Integration Framework enables the financial institution to aggregate their other customer-facing web applications behind the Q2Online login. Q2 supports the integration of third-party solutions, including positive payment, e-statement, brokerage, trust, retirement, remote deposit, and reporting applications. Vendor integration can be in the form of data integration, single sign-on (SSO) to the third-party application, or a combination of both. Vendor integration provides native Q2Online multi-factor authentication to applications that may not yet be MFA compliant.

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