Tri Counties Bank Increases Online Account Openings with Q2
Q2's one-step account opening and onboarding tool funds new accounts quickly, giving the bank immediate access to incoming funds.
- 75% increase in online account openings
- Funding time reduced from several days to four minutes
- > 80% of account holders actively use mobile banking powered by Q2
"We converted about 100,000 personal customers, and it was an absolutely phenomenal conversion."
About Tri Counties Bank
- Headquarters
- Chico, California
- Assets Under Management
- Nearly $10 billion
- Solutions
- Q2 Account Open, Q2 Digital Banking Platform
Challenge
Tri Counties Bank needed to upgrade and automate its account origination system.
Its previous online account opening system was more like a digital portal to collect information, and the behind-the-scenes process was very manual. The bank sought to reduce the administrative burden on its internal team and convey digital aptitude to its new customers.
Solution
Q2 Account Open provided a modernized onboarding and funding tool.
When Tri Counties Bank deployed Q2 Account Open, the solution surpassed expectations. The modernized onboarding and funding tool simplified the process and exceeded customer expectations. Today, Q2 helps Tri Counties Bank enhance efficiency for back-office teams, eliminate manual processes and add to the bank's bottom line with new assets that don't require new staff or overhead.
Results
Since upgrading to Q2, Tri Counties Bank has achieved the following:
- Increased online account openings by 75%
- Significantly reduced the account funding process from several days to less than four minutes
- Enabled customers to create and fund new accounts in a single session, eliminating the previous multi-day process
- Increased digital engagement: More than 80% of account holders are actively using mobile banking powered by Q2
