Q2 releases API portfolio
14 June 2017 | 2236 views | 0
Q2 Holdings, Inc. (NYSE:QTWO), a leading provider of secure, cloud-based digital banking solutions for community-focused financial institutions (FIs), announced today the launch of Q2 Open, a new portfolio of open API financial services.
Any organization looking to provide financial services—financial institutions, fintech companies and leading brands—can utilize Q2 Open to develop and enhance their own financial apps and tools.
“Our mission is to strengthen financial institutions, and as our industry evolves, our clients need new ways to deliver innovative financial services,” said Matt Flake, CEO of Q2. “Q2 Open is designed to make it easier, faster and more cost-effective to develop digital financial tools and represents meaningful opportunities for financial institutions and fintechs to partner and drive new growth.”
Q2 Open is comprised of four services consumed through open APIs, which allow development-capable organizations to build front-end interfaces and experiences on top of Q2 Open’s existing technology infrastructure.
• Q2 Debit, which enables federally insured checking account creation into applications and offers branded debit cards integrated into Visa or MasterCard rails.
• Q2 Save, which offers fully functional, compliant and cost-effective savings accounts with account and routing numbers inside an application.
• Q2 Ledger, which provides ledgering functionality for “For the Benefit Of” (FBO) accounts—an alternative to traditional checking and savings accounts.
• Q2 Biller Direct, which aggregates users’ bills and payments into a single view, enabling bill presentment, aggregation and bill pay functionality into their applications.
Q2 Open is already powering several fintech brands and apps, including Qapital—a leading savings app featured in The New York Times, Fast Company, Wired, Forbes and more. Today, Qapital uses Q2’s APIs for its goal-based savings app, which serves more than 300,000 users.
"We've been impressed by Q2 and the Open portfolio," said George Friedman, CEO of Qapital. “Our young audience expects us to be on the cutting edge of digital banking innovation. The Q2 Open APIs enable our team of creators, designers and developers to rapidly deliver new features in our app—allowing us to build a product that our customers really love."
Qapital recently expanded and extended its relationship to further leverage the Q2 Open portfolio, and will use Q2’s open APIs to deploy new cornerstone features—including a Qapital debit card—in the coming months.
The Q2 Open portfolio has been developed and released by Q2 Labs, an innovation-focused team within Q2.