Avidia Bank Partners with Q2 and Personetics to Modernize its Digital Banking Experience and Strengthen Engagement

Rhea-AI Summary

Avidia Bank has chosen Q2 Holdings and Personetics to modernize its digital banking platform.

Q2, known for its digital transformation solutions, will help enhance Avidia's customer experience by integrating Personetics' AI-driven platform for personalized financial insights and engagements.

Avidia Bank, which holds $2.6 billion in assets, aims to leverage Q2’s Digital Banking Platform, Innovation Studio, and Marketplace to introduce innovative fintech solutions and streamline its processes.

The integration aims to provide real-time insights, automated saving plans, and deeper customer relationships, positioning Avidia to better serve its community and expand its footprint.

Positive

• Avidia Bank selecting Q2 and Personetics enhances its digital banking capabilities.
• Integration with Personetics offers real-time insights and automated saving plans.
• Q2's platform and Innovation Studio facilitate faster innovation and differentiated customer experiences.

Negative

• None.

Insights

Financial Analyst

The partnership between Avidia Bank and Q2 Holdings to modernize its digital banking experience is a strategic move aimed at addressing the evolving needs of its customers. Avidia Bank's integration of Q2's digital transformation solutions, along with Personetics' AI-driven personalization, indicates a significant upgrade in user experience and operational efficiency.

Financially, this partnership positions Avidia Bank to potentially attract more customers by offering enhanced digital services, which can lead to increased revenue streams. Furthermore, the integration of real-time insights and automated saving plans can drive customer retention, which is important for sustained financial health.

Considering the competitive landscape of the banking sector, the ability to offer such personalized financial tools could help Avidia Bank stand out, increasing its customer base and overall market share. However, the success of this initiative will depend on the seamless implementation of these technologies and the bank's ability to market them effectively to its existing and potential customers.

Tech Expert

From a technological standpoint, Avidia Bank's adoption of Q2's digital banking platform and Personetics' AI-powered personalized engagement platform showcases a commitment to leveraging advanced technology to enhance customer experience. Q2's Innovation Studio allows for rapid deployment and integration of fintech solutions, which means Avidia Bank can quickly adapt to new market demands and trends.

The use of pre-built widgets for seamless integration with Personetics ensures that customers receive a consistent and brand-aligned experience. This capability not only improves user satisfaction but also streamlines internal processes, reducing complexity and potential system glitches.

For retail investors, this indicates that Avidia Bank is investing in future-proofing its operations and staying competitive in the digital age. The focus on personalization and real-time insights can lead to more engaged and loyal customers, ultimately driving long-term growth and stability.

Q2 and Personetics to enable Avidia Bank to provide a more robust, personalized digital banking experience to meet its customers’ evolving needs

AUSTIN, Texas--(BUSINESS WIRE)-- Q2 Holdings, Inc. (NYSE: QTWO), a leading provider of digital transformation solutions for financial services, announced today that Massachusetts-based Avidia Bank has selected Q2 to modernize and enhance its digital banking experience for its customers. The bank will also leverage Personetics’ AI-powered personalized engagement platform through Q2 Innovation Studio to maximize the impact of the data-driven insights and empower its customers to achieve their financial goals.

Founded in 1869, Avidia Bank is a $2.6 billion mutual community bank with a mission to provide its communities with strong and efficient financial solutions and exceptional customer service. Previously, the bank was limited in its capabilities and hindered by system complexities, so it sought Q2 to revamp its digital banking experience and improve and simplify its internal and external processes.

In addition to the Q2 Digital Banking Platform, Avidia Bank selected several other Q2 solutions, including Q2 Innovation Studio and Q2 Marketplace, to deliver faster innovation and differentiated experiences. Q2 Innovation Studio will enable Avidia Bank to partner with fintechs to provide its customers with pre-built integrations to enhance the digital banking experience.

“As a marketer, I couldn’t be more excited about the potential with Q2,” said Janel Maysonet, senior vice president and chief marketing officer, Avidia Bank. “Q2 enables us to differentiate from other banks by leveraging the Q2 Innovation Studio to embed fintech solutions like Personetics within our digital banking platform. This will allow us to provide real-time insights and automated saving plans, helping our customers work toward their goals and financial decisions with confidence, all while creating stickier, deeper relationships with our account holders. Enhancing the digital experience for our customers is a top priority.”

"We are excited to partner with Avidia Bank to transform and streamline their digital banking experience,” said Katharine Briggs, chief product officer, Q2. “By leveraging the Q2 platform, Q2 Innovation Studio and the partner fintech ecosystem, we believe Avidia Bank can better serve account holder needs and provide a differentiated customer experience, enabling them to drive stronger engagement while broadening their regional footprint."

Avidia will also leverage Personetics' AI-powered personalization engine to deliver hyper-relevant, real-time insights, advice and savings journeys, empowering customers to manage finances with confidence, make informed decisions and achieve their financial goals. This integration with Personetics includes pre-built widgets, ensuring a brand-aligned experience while maximizing the impact of the data-driven insights.

"We applaud Avidia for taking this bold step to enhance its customer experience through personalized engagement,” said Jody Bhagat, president of the Americas, Personetics. "With turnkey data integration along with the capability to embed Personetics into the Q2 Digital Banking Platform, Avidia Bank can now deliver hyper-personalized engagement that drives deeper customer relationships."

“The collaboration between Avidia Bank, Q2 and Personetics underscores the beginning of an exciting journey,” Bhagat added. “It’s a partnership that recognizes how community banks can deliver innovative and proven solutions that strengthen their customer franchise.”

Learn More

Q2 Innovation Studio allows in-demand financial services companies that are leveraging the Q2 SDK (software development kit) to pre-integrate their technology to the Q2 Digital Banking Platform. This enables financial institutions to work with Q2’s partners, purchase their solutions and rapidly deploy their standardized integrations to their customers. For more information about Q2 Innovation Studio, click here.

About Q2 Holdings, Inc.

Q2 is a leading provider of digital transformation solutions for financial services, serving banks, credit unions, alternative finance companies, and fintechs in the U.S. and internationally. Q2 enables its financial institution and fintech customers to provide comprehensive, data-driven digital engagement solutions for consumers, small businesses and corporate clients. 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. Follow us on LinkedIn and X to stay up to date.

About Personetics

Personetics is the global leader in financial data-driven personalization, enabling financial institutions to forge deeper relationships by enhancing clients’ financial wellness and helping them make smarter decisions. Personetics reaches 135 million customers across 35 global markets while serving more than 130 financial institutions. Personetics’ AI analyzes financial data in real-time to understand customer financial behavior, anticipate needs, and deliver a hyper-personalized experience with day-to-day actionable insights, personalized recommendations, product-based financial advice, and automated financial wellness programs. The company has offices in New York, London, Singapore, São Paulo, and Tel Aviv. For more information, visit www.personetics.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240627339385/en/

MEDIA CONTACTS

Maria Gari

Q2 Holdings, Inc.

+1 315-657-0041

maria.gari@q2.com

Michal Milgalter

Personetics

+972-(0)52-357-1981

michal.milgalter@personetics.com

Source: Q2 Holdings, Inc.

FAQ

What is the purpose of Avidia Bank's partnership with Q2 and Personetics?

Avidia Bank aims to modernize its digital banking experience and provide personalized, data-driven financial insights to its customers through the partnership with Q2 and Personetics.

How will Q2 and Personetics help Avidia Bank improve its digital services?

Q2 will provide a robust digital banking platform while Personetics' AI-powered personalization engine will offer real-time insights and automated saving plans, enhancing customer engagement for Avidia Bank.

What solutions has Avidia Bank selected from Q2 to enhance its digital banking?

Avidia Bank has chosen Q2's Digital Banking Platform, Innovation Studio, and Marketplace to deliver innovative fintech solutions and streamline its processes.

How much in assets does Avidia Bank hold?

Avidia Bank holds $2.6 billion in assets.

What benefits will Avidia Bank customers gain from this new integration?

Customers will gain access to personalized financial insights, automated saving plans, and enhanced digital banking experiences, helping them achieve their financial goals with confidence.