Bank launches Lake City Bank Digital, a Next-Generation Platform for Consumers and Businesses

Rhea-AI Summary

Lake City Bank has launched its next-generation digital banking platform, Lake City Bank Digital, on March 29, 2021. This platform merges four separate online and mobile solutions into one device-agnostic solution for both commercial and retail clients. CEO David M. Findlay emphasized the bank's commitment to being competitive in digital banking, with a significant investment to ensure long-term viability. The platform offers features like account management, bill payment, and financial management tools. The launch was done in partnership with Q2, a leader in digital transformation solutions.

Positive

• Successful launch of Lake City Bank Digital consolidating four solutions into one.
• Significant investment aimed at enhancing digital competitiveness.
• Device-agnostic solution providing ease for users regardless of device.
• Launch features advanced functionalities for both retail and commercial clients.

Negative

• None.

WARSAW, Indiana, April 12, 2021 (GLOBE NEWSWIRE) -- Lake City Bank announced today that the bank launched its next-generation digital banking platform combining digital functionality for commercial and retail clients in one device-agnostic solution on March 29, 2021.

“Our commitment to Lake City Bank Digital connects with the relationship strategy that has driven the bank since its founding,” said David M. Findlay, President and Chief Executive Officer. “We chose this platform not just because it was right for us in 2021, but because we know its current functionality and vision will serve our clients well today and grow with us into the future.”

“Our investment in Lake City Bank Digital is significant,” continued Findlay. “We made this move very intentionally to ensure that we are not only competitive on the digital banking front, but positioned for long-term competitiveness with competitors of all sizes, particularly those digital services offered by much larger banks. Despite the challenges inherent in rolling out this digital platform during a pandemic, it was critical that we move forward to be at the forefront of delivering this next-generation platform. Our clients have proven to be technology adopters and we’re excited to bring these capabilities to them.”

Lake City Bank Digital combines what was formerly four separate online and mobile solutions into one platform for both business and consumer accounts. Lake City Bank Digital is device agnostic, meaning it performs the same way regardless of the device being used. Customers can view accounts, pay bills, transfer funds and pay people with Zelle®. Other features include Card Controls to manage debit card use and Card Swap that enables consumers to switch cards they use for subscription services like Netflix, Hulu and others. Lake City Bank Digital functionality includes financial management tools that allow customers to integrate accounts at other financial institutions for a complete financial picture in one solution, in addition to budgeting, planning and saving tools. Business customers can use all of Lake City Bank’s extensive suite of treasury management tools in Lake City Bank Digital.

Lake City Bank launched its new solution in partnership with digital transformation solutions provider Q2, after extensive research into the solution that would provide best-in-class technology today with flexible design and capacity for growth well into the future. Q2, a leading provider of digital transformation solutions for banking and lending, is dedicated to delivering end-to-end digital solutions to financial institutions and fintech companies.

Lake City Bank, a $5.8 billion bank headquartered in Warsaw, Indiana, is the sixth largest bank headquartered in the state, and the largest bank 100% invested in Indiana. Lake City Bank operates 50 branch offices in northern and central Indiana, delivering technology-driven solutions in a client-centric way to individuals and businesses. The bank is the single bank subsidiary of Lakeland Financial Corporation (Nasdaq Global Select/LKFN). For more information visit lakecitybank.com.  

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 throughout the world and is publicly traded on the NYSE under the stock symbol QTWO. To learn more, please visit Q2.com.

Zelle and the Zelle related marks are wholly owned by Early Warning Services, LLC and are used herein under license.

Contact
Mary Horan
Director of Marketing and Public Relations
574 371-9280 office
574 377-9150 mobile
mary.horan@lakecitybank.com

FAQ

What is Lake City Bank Digital?

Lake City Bank Digital is the bank's new digital banking platform launched on March 29, 2021, combining functionalities for both commercial and retail clients.

When was Lake City Bank Digital launched?

Lake City Bank Digital was launched on March 29, 2021.

What features does Lake City Bank Digital offer?

The platform offers account management, bill payment, fund transfers, budgeting tools, and Card Controls, among other features.

Who partnered with Lake City Bank for the digital platform?

Lake City Bank partnered with Q2 for the development of its digital banking platform.

How does the digital platform improve customer experience?

It combines multiple services into one device-agnostic platform, enhancing accessibility and providing comprehensive financial management tools.