Summit Financial Group Launches Online Banking Branch with Solutions from Q2ebanking

January 20, 2010

Summit Financial Group Launches Online Banking Branch with Solutions from Q2ebanking

Q2ebanking provides a competitive edge for community banks

AUSTIN, TX, Jan. 20, 2010 – Q2ebanking, a progressive financial services technology company for community financial institutions, today announced that Summit Financial Group in Moorefield, WV with 15 banking offices in West Virginia and Virginia, has launched a virtual branch using solutions from Q2ebanking. Scott Jennings, Chief Operating Officer and Senior Vice President of Summit Financial Group, Inc. said, “Summit saw what success ING and other online banking organizations had and realized we needed to find a solution for a virtual branch. We wanted to come up with a new look and feel completely different from our local branches. Our major concern was to identify customers and satisfy requirements for various regulations. The technology is tightly integrated with identity verification, credit scoring and other critical databases that generate quick decisions.” Q2’s solutions offer many levels of flexibility to streamlining any number of self-service features, including its New Account Opening solution from Andera, that provides an efficient and cost-effective means to attract and acquire new customers and accounts. With Summit’s new virtual branch there is no paper work. “This is a non transactional savings account with ACH transfers back and forth which reduced need for a large number of staff, everything is electronic and we can manage the branch with only 2-3 people versus an entire staff. We couldn’t be happier with the results, as we have yielded over 1200 accounts with $78 mil in deposits in less than 6 months all with a minimal staff.” Hank Seale, CEO and founder of Q2 Software, stated, “Community financial institutions are looking for companies to help them drive down operational costs and provide means to generate more profitable business while still effectively serving customers. Q2’s sole focus is delivering electronic banking solutions which help our clients thrive in these difficult times.” Online account opening enables Summit to not only offer new solutions but also reach new customers. “People all over the country are looking for a great rate on their savings accounts and with the online account opening solutions from Q2 we are able to meet this need. We have received comments from many customers who do this all the time (open savings accounts online and move money) and they said our virtual branch was one of the most simple and easy to go through,” said Jennings.

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