Q2 and ALTR Expand Partnership to Deliver Unparalleled Data Control and Protection to Financial Institutions

Rhea-AI Summary

Q2 Holdings (NYSE: QTWO) has extended its strategic partnership with ALTR through 2026, enhancing data governance and security for banking clients. The partnership aims to provide robust solutions amid increasing data privacy demands in the financial sector. ALTR’s technologies enable Q2 to offer enterprise-class data protection and PCI compliance rapidly, enhancing user data management and security. This collaboration highlights the importance of data control in regulatory compliance and aims to drive digital banking innovations.

Positive

• Partnership extension with ALTR through 2026 enhances data governance and security offerings.
• ALTR's patented technologies improve data protection and management for Q2 customers.
• Partnership validation as Q2 effectively achieved PCI compliance within 30 days using ALTR's solutions.

Negative

• None.

ALTR’s patented security technologies and unprecedented combination of data control and protection form the foundation for Q2 Trustview™, powered by ALTR, to provide data governance and security to Q2 banking and lending customers.

AUSTIN, Texas--(BUSINESS WIRE)-- Q2 Holdings, Inc. (NYSE:QTWO), a leading provider of digital transformation solutions for banking and lending, and ALTR, innovator of complete data control and protection solutions, today announced the long-term extension and expansion of their strategic technology partnership through 2026 to deliver unrivaled data governance and security to Q2 customers.

With the increasing importance of controlling and protecting sensitive data, the accelerating regulatory environment, and the renewed focus on data privacy, especially in the financial services industry, ALTR’s unique combination of data governance and security capabilities make the company a crucial innovation partner for Q2 moving forward, delivering inimitable benefit to end customers and support for data security initiatives throughout Q2’s ecosystem.

“As part of our mission, Q2 continues to drive digital banking forward by employing the industry’s most innovative technologies and offering the most effective solutions to help strengthen community financial institutions,” said Lou Senko, Chief Availability Officer of Q2. “We quickly recognized that ALTR’s more than 35 patented technologies and industry-leading approach to combining data governance with security would be key to delivering enterprise-class data protection to our customers. After working together for three years and seeing the substantial, differentiating value created by embedding ALTR-exclusive capabilities into our platform, we’re thrilled to extend the partnership.”

Q2 TrustView™ powered by ALTR, provides an enhancement to Q2’s multilayered data management and protection approach that controls how individuals access data, delivers detailed data intelligence and reporting, and protects critical, regulated financial data assets. ALTR’s enhanced data consumption visibility, automated, policy-based access control, and powerful data protection functionality are the foundation for Q2 TrustView™, allowing Q2 customers to safeguard critical user data, avoid the pitfalls of manual data management, and provide the level of cybersecurity that their account holders expect.

“The expansion of our alliance with Q2, a leader in the highly-regulated financial industry, is potent validation of ALTR’s approach to solving the data governance and security problem,” said Dave Sikora, CEO at ALTR. “Knowing, controlling, and protecting data are all critical to meeting regulatory requirements around data privacy and financial data security. Only ALTR offers the complete solution to keep that data secure.”

The relationship originated in 2018 when Q2 partnered with ALTR to help achieve PCI compliance for its Biller Direct application. By working closely with ALTR, Q2 implemented ALTR’s solution to secure and control its sensitive user and business data in the cloud to become Level 1 PCI DSS certified in just 30 days. Q2 has continued to expand its use of ALTR throughout its application portfolio, including its market-leading online/mobile banking platform, and enterprise cloud data warehouse projects with Snowflake. This agreement extends the partnership for five years through 2026.

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

About ALTR Solutions

ALTR is the only complete data control and protection solution that allows customers to know, control, and protect sensitive data, wherever it is, so they can maximize its value while minimizing the risks.​ ALTR simplifies and unifies data governance and security, allowing anyone the ability to confidently store, share, analyze, and use their data. Customers gain unparalleled visibility into data usage across their organization, intelligence to create advanced policies, automated data access control, and patented data security. With ALTR’s no-code cloud platform, customers can implement data control and protection in minutes instead of months. To learn more, please visit ALTR.com. To start with the ALTR Free plan today, sign up here.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220322005531/en/

Carly Baker

Q2 Holdings, Inc.

210-301-1706

carly.baker@q2.com

Kim Cook

ALTR Solutions

512-608-5444

kim@altr.com

Source: Q2 Holdings, Inc.

FAQ

What is the significance of Q2 Holdings' partnership with ALTR?

The partnership enhances Q2 Holdings' data governance and security solutions, crucial for meeting regulatory demands in the financial sector.

How long is the partnership between Q2 Holdings and ALTR extended?

The partnership has been extended through 2026.

What technologies does ALTR provide to Q2 Holdings?

ALTR provides patented technologies that improve data protection, management, and compliance for Q2's banking clients.

What was achieved within 30 days of implementing ALTR's solutions?

Q2 Holdings achieved Level 1 PCI DSS compliance within 30 days of implementing ALTR's solutions.