Seacoast Bank Experiences 114% Increase in App Store Ratings After Converting to Q2
"As long as we're in that game and we're competitive, we're going to win, because my hunch is that customers would rather bank local."
About Seacoast Bank
- Headquarters
- Stuart, Florida
- Assets Under Managment
- $15 billion
- Solutions
- Q2 Digital Banking Platform, Q2 Accelerator Program
Challenge
Seacoast needed to find a digital banking platform that could provide a strong, unified mobile and online banking experience for its retail and commercial customers
Feedback from customers indicated they were not satisfied with the usability of Seacoast's prior platform. The usability of the platform was not evolving at the pace Seacoast customers needed and expected, and the mobile banking experience was decoupled from online banking, which was a major problem and causing challenges.
Solution
Converting to Q2's digital banking platform provided Seacoast with a best-in-class digital banking experience
Seacoast moved forward in implementing Q2's digital banking platform, with the conversion taking place in less than a year. During that time, Seacoast also went through a period of incredible growth and M&A activity, which resulted in their team converting three more banking to the new platform. The new digital experience is delighting Seacoast's wide variety of customers, which includes smaller "mom and pop" businesses where Seacoast also handles the family's wealth relationship as well; businesses making up to $50M in annual revenues; and middle market businesses with revenues up to $200M a year with complicated transactions.
Results
With Q2's digital banking platform, Seacoast Bank has experienced:
- 114% increase in app store ratings
- Successful conversation and implementation in less than a year
- 7X growth in personal financial management, such as the use of Zelle, over its prior money movement partner
- Reduced incoming call volume by 20% with far fewer customers being confused or locked out of the app
