Q2 and Plaid Partner to Deliver Secure and Efficient Digital Financial Experiences
21 September 2021 - 2:30PM
Business Wire
Q2 and Plaid's partnership will provide 18
million users with access to new digital banking features
Q2 Holdings, Inc. (NYSE: QTWO), a leading provider of digital
transformation solutions for banking and lending, today announced
it has launched a strategic partnership with Plaid, a data network
that powers the tools millions of people rely on to live healthier
financial lives. Q2 and Plaid's partnership will utilize Q2's
leading digital banking platform and Plaid Exchange, the industry's
first open finance platform, to offer customers a secure, reliable
means to connect accounts to apps and services and provide the
tools needed to manage and monitor those connections.
Additionally, as a result of the partnership, Q2 financial
institution customers will have access to Plaid’s APIs to provide
their account holders with a fast, easy digital account funding
experience. With Plaid, new customers can quickly link their
existing bank accounts during the account opening process to fund
new accounts within seconds, compared with a more cumbersome
process that could take days.
“Q2's mission is to build strong, diverse communities by
strengthening their financial institutions (FIs), which are the
lifeblood of our communities. To stay competitive in the market and
provide unparalleled customer experiences, FIs need to offer the
services their customers expect," said Adam Blue, chief technology
officer at Q2. "By integrating Q2's digital banking platform with
Plaid Exchange, Q2's financial institutions will be able to
effectively partner with fintechs while providing improved end-user
experiences to their customers.”
Q2's partnership with Plaid will give Q2's customers "zero-lift"
access to the Plaid network. Account holders will have secure and
reliable API-based access to 5,500+ Plaid-powered fintech apps.
"At Plaid, we believe all consumers should have access to
digital financial services, regardless of where they bank, and the
Q2 team shares this same mission. Together we will unlock for ~18
million consumers across 500+ banks and credit unions, secure,
reliable API-based access to the 5,500+ fintech apps powered by
Plaid," said Reed Bouchelle, strategic partnerships at Plaid. "Our
partnership extends beyond data access. With Plaid, Q2 financial
institutions will enable consumers to more easily fund new accounts
and see a holistic view of spending and net worth across all of
their financial accounts. All of this is made possible using Plaid
Exchange, Auth, Identity and Transactions."
In a world where data privacy is a significant concern for most
consumers, the Q2 and Plaid partnership will help millions of
consumers control where their data goes. Using OAuth to eliminate
the need to store end user passwords, financial institution
customers will be able to authenticate fintech apps easily and
provide secure access to their financial data. Learn more about Q2
and Plaid’s partnership in this blog post.
About Plaid
Plaid is a data network that powers the tools millions of people
rely on to live a healthier financial life. Plaid works with
thousands of companies, several on the Fortune 500, and many of the
largest banks to make it easy for people to connect their financial
accounts to the apps and services they want to use. Plaid’s network
covers 11,000 financial institutions across the US, Canada, UK and
Europe. Headquartered in San Francisco, the company was founded in
2013 by Zach Perret and William Hockey.
About Q2 Holdings, Inc.
Q2 is a financial experience company dedicated to providing
digital banking and lending solutions to banks, credit unions,
alternative finance, and fintech companies in the U.S. and
internationally. With comprehensive end-to-end solution sets, Q2
enables its partners to provide cohesive, secure, data-driven
experiences to every account holder – from consumer to small
business and corporate. Headquartered in Austin, Texas, Q2 has
offices worldwide and is publicly traded on the NYSE under the
stock symbol QTWO. To learn more, please visit Q2.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20210921005671/en/
Maria Abbe Q2 Holdings, Inc. +1 315-657-0041
maria.abbe@q2.com
Kelly Reilly Plaid +1 314-306-8168 kreilly@plaid.com
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