Firstrust Bank Expands Q2 Partnership to Strengthen Customer Engagement and Deposit Growth

Rhea-AI Summary

Q2 Holdings, Inc. announces Firstrust Bank's selection of Q2 ClickSWITCH to enhance digital account onboarding experience, aiming to increase deposits and engagement.

Firstrust Bank uses Q2 ClickSWITCH to provide customers with a seamless digital account onboarding experience

AUSTIN, Texas--(BUSINESS WIRE)-- Q2 Holdings, Inc. (NYSE: QTWO), a leading provider of digital transformation solutions for financial services, announced today that Firstrust Bank (Firstrust) has selected Q2 ClickSWITCH, a patent-protected digital account switching software-as-a-service (SaaS) solution, to help grow deposits, increase engagement and provide its customers with a modernized digital account onboarding experience. The expanded partnership between Q2 and Firstrust, which began in 2019 when Firstrust deployed Q2’s digital banking platform to power its online and mobile banking technology, demonstrates the bank’s commitment to providing its customers with best-in-class technology.

With over $5 billion in assets, Firstrust was founded in 1934 and remains committed to serving the financial needs of the greater Philadelphia region. By adding Q2 ClickSWITCH to its technology stack, Firstrust aims to increase the lifetime value of its customers by making it simple for commercial account holders to utilize Firstrust for their personal banking needs. Q2 ClickSWITCH helps banks and credit unions speed up and simplify new account onboarding by allowing customers to switch their existing direct deposits and automatic payments quickly, securely and seamlessly.

“Firstrust’s mission is centered on cultivating prosperity for our customers, our employees and the communities we serve, and we believe our expanded partnership with Q2 will help provide the best digital experience for our customers,” said Tim Abell, CEO and president of Firstrust Bank. “Additionally, deposit growth is a top priority, and it’s critical for us to invest in technology that makes it easier for our customers to bank with Firstrust.”

"Our goal is to build a relationship with everyone who joins Firstrust. Today, the digital banking experience is the easiest and most convenient way for our customers to interact with their money, anytime, anywhere, anyplace,” said Abell. “Q2 ClickSWITCH enables us to take friction away from that experience from the beginning and helps convey who we are, a bank that can serve all their needs in-person at our 18 branches or online through our digital banking platform.”

“Deposits are the lifeblood of any financial institution,” said Katharine Briggs, senior vice president, Customer Success, Q2. "Firstrust’s decision to invest in Q2 ClickSWITCH underscores its commitment to elevating the onboarding experience with a modernized digital solution that helps banks and credit unions drive engagement and strengthen account holder relationships."

Learn More

For more information about how Q2 ClickSWITCH helps financial institutions to win deposits, engage account holders, and increase profitability, go to https://www.q2.com/consumer/account-switching.

For more information about Q2’s best-in-class digital banking platform, go to https://www.q2.com/consumer.

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 institutions and fintech companies 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 Firstrust Bank

Founded in 1934, with assets of approximately $5 billion, Firstrust Bank is the region’s largest family-owned financial institution, one of the region’s largest and strongest full-service commercial banks, and one of the most consistently top-performing banks in the Nation. Founded by Samuel A. Green, who began the business in his mother’s kitchen in South Philadelphia, Firstrust is currently in its third generation of family management, operating as Philadelphia’s Hometown Bank® for 90 years. Firstrust offers a broad range of retail and commercial banking products and services to individuals, businesses, and institutions. In commercial banking, Firstrust provides a wide variety of solutions, including commercial real estate finance, business banking, asset-backed lending, and deposit and treasury management services. Firstrust meets the need of its consumer customers by offering a full range of deposit, lending, and residential mortgage products. Firstrust is a Small Business Administration (SBA) Preferred Lender, is a Top Workplaces employer, the Official Bank of the Philadelphia Eagles and serves its customers through 18 branch banking offices located in Southeastern PA, Cherry Hill, NJ, and Towson, MD. For more information, visit firstrust.com or call 800-220-BANK. Member FDIC.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240213557406/en/

Carly Baker

Q2 Holdings, Inc.

+1 210-391-1706

Carly.baker@q2.com

Source: Q2 Holdings, Inc.

FAQ

What is the latest announcement by Q2 Holdings, Inc. regarding Firstrust Bank?

Q2 Holdings, Inc. announced that Firstrust Bank has chosen Q2 ClickSWITCH to improve digital account onboarding.

What is Q2 ClickSWITCH?

Q2 ClickSWITCH is a patent-protected digital account switching software-as-a-service (SaaS) solution.

Why did Firstrust Bank select Q2 ClickSWITCH?

Firstrust Bank chose Q2 ClickSWITCH to enhance customer experience, increase deposits, and provide modernized digital account onboarding.

How does Q2 ClickSWITCH benefit banks and credit unions?

Q2 ClickSWITCH helps speed up and simplify new account onboarding by allowing customers to switch direct deposits and automatic payments quickly, securely, and seamlessly.

What is Firstrust Bank's mission according to the PR?

Firstrust Bank's mission is centered on cultivating prosperity for customers, employees, and communities served.