Envisant Selects Q2 to Migrate Prepaid Card Portfolio
Q2 Holdings (NYSE: QTWO) has announced a partnership with Envisant, a credit union service organization, to migrate and manage their prepaid card portfolio using Q2 Fabric. Envisant, serving nearly 2,000 credit unions across all states, will utilize Q2's full-stack solution to enhance its prepaid, gift card, and travel card offerings while streamlining back-office operations. The partnership allows Envisant to migrate existing cards from its previous provider to Q2 Fabric, upgrading customer experience with minimal cardholder impact. Q2 Fabric, launched in fall 2023, combines digital banking experience with a modern core and fintech ecosystem, enabling financial institutions to offer innovative products alongside their existing core functionality.
Q2 Holdings (NYSE: QTWO) ha annunciato una partnership con Envisant, un'organizzazione di servizi per cooperative di credito, per migrare e gestire il loro portafoglio di carte prepagate utilizzando Q2 Fabric. Envisant, che serve quasi 2.000 cooperative di credito in tutti gli stati, utilizzerà la soluzione full-stack di Q2 per migliorare la sua offerta di carte prepagate, carte regalo e carte da viaggio, semplificando al contempo le operazioni di back-office. La partnership consente a Envisant di migrare le carte esistenti dal suo fornitore precedente a Q2 Fabric, migliorando l'esperienza del cliente con un impatto minimo sui titolari delle carte. Q2 Fabric, lanciato nell'autunno del 2023, combina l'esperienza bancaria digitale con un core moderno e un ecosistema fintech, consentendo alle istituzioni finanziarie di offrire prodotti innovativi insieme alla loro funzionalità core esistente.
Q2 Holdings (NYSE: QTWO) ha anunciado una asociación con Envisant, una organización de servicios para cooperativas de crédito, para migrar y gestionar su cartera de tarjetas prepagadas utilizando Q2 Fabric. Envisant, que sirve a casi 2.000 cooperativas de crédito en todos los estados, utilizará la solución de pila completa de Q2 para mejorar su oferta de tarjetas prepagadas, tarjetas de regalo y tarjetas de viaje, al tiempo que simplifica las operaciones de back-office. La asociación permite a Envisant migrar las tarjetas existentes de su proveedor anterior a Q2 Fabric, mejorando la experiencia del cliente con un impacto mínimo para los titulares de tarjetas. Q2 Fabric, lanzado en otoño de 2023, combina la experiencia bancaria digital con un núcleo moderno y un ecosistema fintech, permitiendo a las instituciones financieras ofrecer productos innovadores junto a su funcionalidad central existente.
Q2 홀딩스 (NYSE: QTWO)는 신용 조합 서비스 조직인 Envisant와 파트너십을 체결하고 Q2 Fabric를 사용하여 선불 카드 포트폴리오를 이전하고 관리하기로 발표했습니다. Envisant는 미국 전역의 거의 2,000개 신용 조합에 서비스를 제공하며, Q2의 풀 스택 솔루션을 활용하여 선불 카드, 기프트 카드 및 여행 카드를 개선하고 백오피스 운영을 간소화할 것입니다. 이 파트너십을 통해 Envisant는 기존 카드를 이전 공급자로부터 Q2 Fabric으로 이전하고 카드 소지자에게 최소한의 영향을 주면서 고객 경험을 개선할 수 있습니다. 2023년 가을에 출시된 Q2 Fabric은 디지털 은행 경험과 현대적인 코어 및 핀테크 생태계를 결합하여 금융 기관이 기존 코어 기능과 함께 혁신적인 제품을 제공할 수 있도록 합니다.
Q2 Holdings (NYSE: QTWO) a annoncé un partenariat avec Envisant, une organisation de services pour les coopératives de crédit, afin de migrer et de gérer son portefeuille de cartes prépayées en utilisant Q2 Fabric. Envisant, qui dessert près de 2.000 coopératives de crédit dans tous les États, utilisera la solution full-stack de Q2 pour améliorer ses offres de cartes prépayées, de cartes-cadeaux et de cartes de voyage tout en rationalisant les opérations de back-office. Ce partenariat permet à Envisant de migrer les cartes existantes de son ancien fournisseur vers Q2 Fabric, améliorant ainsi l'expérience client avec un impact minimal pour les titulaires de cartes. Q2 Fabric, lancé à l'automne 2023, allie expérience bancaire numérique, un cœur moderne et un écosystème fintech, permettant ainsi aux institutions financières d'offrir des produits innovants en plus de leur fonctionnalité de base existante.
Q2 Holdings (NYSE: QTWO) hat eine Partnerschaft mit Envisant, einer Dienstleistungsorganisation für Kreditgenossenschaften, angekündigt, um deren Prepaid-Kartenportfolio mithilfe von Q2 Fabric zu migrieren und zu verwalten. Envisant bedient nahezu 2.000 Kreditgenossenschaften in allen Bundesstaaten und wird die Full-Stack-Lösung von Q2 nutzen, um seine Angebote für Prepaid-, Geschenkkarten und Reisekarten zu verbessern und gleichzeitig die Back-Office-Betriebsabläufe zu optimieren. Die Partnerschaft ermöglicht es Envisant, bestehende Karten von ihrem vorherigen Anbieter auf Q2 Fabric zu migrieren und das Kundenerlebnis mit minimalen Auswirkungen auf die Karteninhaber zu verbessern. Q2 Fabric, das im Herbst 2023 eingeführt wurde, kombiniert digitale Bankerfahrung mit einem modernen Core und einem Fintech-Ökosystem, das es Finanzinstituten ermöglicht, innovative Produkte zusammen mit ihrer bestehenden Kernfunktionalität anzubieten.
- Partnership with Envisant expands Q2's market reach to nearly 2,000 credit unions
- Q2 Fabric enables expansion of product offerings and revenue streams
- Integration maintains existing core functionality while adding new capabilities
- None.
Insights
This strategic partnership marks a notable advancement in Q2's market position within the credit union technology sector. The integration of Q2 Fabric with Envisant, which serves nearly 2,000 credit unions nationwide, represents a significant revenue growth opportunity. The migration of Envisant's existing prepaid card portfolio to Q2's platform will generate recurring revenue streams through transaction fees and platform licensing.
Q2 Fabric's full-stack solution differentiates itself by combining digital banking, modern core banking (Helix) and fintech integration capabilities. This comprehensive approach addresses a critical market need for unified banking solutions, potentially leading to increased market share in the competitive fintech space. The partnership validates Q2's technology stack and could accelerate adoption among other credit union service organizations.
With Q2 Fabric, Envisant can evolve its offerings while driving back-office efficiency and strategic growth
Serving nearly 2,000 credit unions across all 50 states, Envisant’s forward-thinking product strategy features credit and debit programs, prepaid debit cards, portfolio development consulting, agent credit card programs, collection services, ATM services, marketing and more.
Envisant has partnered with Q2 to utilize Q2 Fabric, enabling Envisant to evolve and grow its prepaid, gift card, and travel card portfolio across its credit union clients while streamlining its back-office operations. Envisant plans to migrate existing cards from its previous prepaid provider to Q2 Fabric, upgrading the customer experience with minimal impact to cardholders. Once migrated, Q2 Fabric provides the foundation to drive future product growth and expansion.
“At Envisant, we’re committed to providing our credit union partners with innovative and efficient solutions that enhance the member experience,” said Libby Calderone, president and COO at Envisant. “Q2 Fabric’s integrated platform allows us to streamline our back-office operations and deliver a wider range of prepaid card options to our credit unions. This partnership empowers Envisant to evolve our prepaid portfolio while ensuring a smooth transition for our existing cardholders.”
Envisant fulfills the roles of both the program manager and the issuer of the program, bringing holistic, low-risk, product offerings, such as prepaid cards, that can be added to other core services.
“Historically, prepaid card programs have been offered in siloed systems that limit adoption and create friction in designing products and meeting the customers’ growing needs,” said Ahon Sarkar, general manager and senior vice president of Helix by Q2. “With Q2 Fabric, we’re bringing prepaid services into Helix’s modern cloud-native core, bringing personalization and innovation back to the world of prepaid services. We’re thrilled to partner with Envisant to help them evolve and grow their unique prepaid portfolio.”
Q2 Fabric launched in the fall of 2023 and is designed to empower banks and credit unions to deploy digital brands to profitably grow deposits. Weaving together a best-in-class digital banking experience, modern core, and robust, pre-integrated fintech ecosystem, Q2 Fabric is a leading full stack platform for digital retail banking, enabling innovative financial institutions to launch high-yield savings accounts, checking accounts, revenue-generating debit cards, prepaid card services, and more to grow their deposit footprint. Q2 Fabric runs alongside a financial institution’s core, complementing existing core functionality. With Q2 Fabric, any size bank or credit union can launch a differentiated direct bank, expand their product offering, or drive efficiency across their existing portfolio.
To learn more about Q2 Fabric, please click here.
To learn more about Envisant, please visit: https://www.envisant.com/
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
About Envisant
Envisant is a credit union service organization helping nearly 2,000 credit unions across all 50 states achieve their vision. A subsidiary of the Illinois Credit Union League, our product strategy features credit and debit programs, prepaid debit cards, portfolio development consulting, agent credit card programs, and ATM services. Get to know us at www.envisant.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241024965059/en/
MEDIA CONTACT
Maria Gari
Q2 Holdings, Inc.
maria.gari@q2.com
315-657-0041
Melissa A. Vidito
Director, Marketing & Communications
Envisant
melissa.vidito@envisant.com
630.637.3965
Source: Q2 Holdings, Inc.
FAQ
What is Q2 Fabric's partnership with Envisant for prepaid cards in 2024?
When was Q2 Fabric (QTWO) launched and what does it offer?
How many credit unions will benefit from the Q2-Envisant partnership?
