Q2 ranked first in vendor stability and client service for its commercial banking solutions and won the highest number of new cash management customer deals
AUSTIN, TX (June 20, 2023)—Q2 Holdings, Inc. (NYSE:QTWO), a leading provider of digital transformation solutions for banking and lending, announced today it has been recognized as the “best-in-class” leader in the Aite Matrix: Leading U.S. Cash Management Technology Providers vendor assessment, 2023. This is the fourth time Q2 has been named as a “best-in-class" vendor by Aite-Novarica Group, placing it in the gold leadership position for 2023.
Leveraging the Aite Matrix, a proprietary Aite-Novarica Group vendor assessment framework, this impact report evaluates the competitive position of each vendor, focusing on vendor stability, client strength, product features, and client services. Q2 earned the “best-in-class" ranking in all four report components and ranked first in vendor stability and client service. The assessment attributed the high scores to Q2’s strong client partnerships, as well as its ability to retain talent and exceed customer expectations through its investment in research and development. From the 2021 vendor assessment to 2023, Q2 maintained or improved its ranking in all four assessment areas. As the leading commercial cash management provider, Q2 added 48 new commercial banking clients in 2021-2022, significantly outpacing the other technology providers included in the assessment.
Q2 was named the leader among vendor solutions competitors and recognized for its breadth of digital offerings in Q2 Catalyst. The integrated suite of commercial banking solutions, which includes the best-in-class Q2 digital banking platform, is designed to cover the entire business customer lifecycle and provide the flexibility and autonomy financial services of all sizes need to serve their target markets and compete and win new business. Q2 was also recognized for its strategic acquisition decisions, the most recent being Sensibill, to broaden its offerings, enhance its cross-sell ability and deliver a more connected and data-rich experience to end users.
“It is critical for cash management clients to select a technology partner who can support the demands of corporate and small business customers today and in the future. Q2 has continually demonstrated improvement and innovation in its cash management offerings and is recognized as a leading partner because of its willingness to grow and iterate alongside financial institutions,” said Christine Barry, head of banking and payments insights and advisory services for Aite-Novarica Group. “Business customers want their banks to partner with fintech companies to deliver more integrated experiences, and Q2 has been on an upward trajectory over the last few years as it continues to build out its fintech partner ecosystems to help its clients broaden their capabilities with fintech offerings.”
Q2 is the only vendor rated as a “leader” for its build-out of fintech partnerships and is recognized for its innovative approach to the market. Through the Q2 Innovation Studio, Accelerator and Marketplace programs, Q2 has more than 130 partners pre-integrated into its digital banking platform, 40 of which are part of its Marketplace for end-user consumption (business and consumer). These partnerships recognize the growing need for financial institutions to partner with fintech companies to win and retain business customers and provide a more efficient way for them to do so.
“We are proud to be recognized by Aite-Novarica Group as the “best-in-class" vendor in its 2023 Cash Management Technology Providers vendor assessment,” said Dallas Wells, senior vice president of product management for Q2. “Through Q2 Catalyst, our suite of commercial banking solutions, and the expansion of our fintech ecosystem, we are committed to delivering the innovative solutions financial institutions need to win new clients, onboard them faster, serve them better with tailored experiences and grow deeper relationships beyond traditional banking.”
To download the Q2 excerpt of the Aite Matrix: The Leading Providers of U.S. Cash Management Technology, 2023 click here.
To learn more about how Q2 delivers simple, smart, end-to-end banking and lending solutions for commercial financial institutions, visit: https://www.q2.com/commercial.