Q2 and Axos Bank Win 2022 IDC FinTech Rankings Real Results Award

Rhea-AI Summary

Q2 Holdings has been recognized by IDC as a leader in the Omni-Experience Customer Engagement category, highlighting the success of customer Axos Bank using Q2 ClickSWITCH. This award underscores a significant innovation in digital account switching, leading to a remarkable 30% increase in deposit volume for Axos Bank. The IDC FinTech Rankings Real Results Awards celebrate impactful technology changes within the financial services sector, emphasizing Q2's commitment to enhancing customer experiences in banking.

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• Q2 Holdings recognized by IDC for excellence in Omni-Experience Customer Engagement.
• Q2 ClickSWITCH implementation led to a 30% increase in deposit volume for Axos Bank.

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• None.

Leading industry analyst firm IDC names Q2 a winner in the Omni-Experience Customer Engagement category for customer Axos Bank’s success with Q2 ClickSWITCH

AUSTIN, Texas--(BUSINESS WIRE)-- Q2 Holdings, Inc. (NYSE:QTWO), a leading provider of digital transformation solutions for banking and lending, announced today that it has been named alongside Q2 customer Axos Bank (Axos) as a winner of the 2022 IDC FinTech Rankings Real Results Awards in the Omni-Experience Customer Engagement category.

Axos Bank is a leader in technology-driven financial services with a continued commitment to innovation, efficiency, and ease of use for over two decades. Through the implementation of Q2 ClickSWITCH – a patented digital account switching software as a service (SaaS) solution – Axos Bank, a digital bank with $17.5 billion of assets, enables new customers to seamlessly and securely switch recipient accounts for their direct deposits and onboard new customer accounts quickly and efficiently, increasing Axos Bank’s primary banking relationship with customers. After rolling out Q2 ClickSWITCH, Axos Bank measured a 30 percent spike in deposit volume for all Q2 ClickSWITCH-associated accounts.

“We are proud to be recognized alongside one of the nation’s most trusted digital banks for our aligned commitment to enhancing the customer experience through innovative solutions such as Q2 ClickSWITCH,” said Dallas Wells, senior vice president of Product Management, Q2. “Today’s announcement is a reminder of the significant impact this dedication has on moving the needle forward for the overall quality of engagement between a financial institution and its customers.”

“As a financial institution that takes pride in developing and maintaining customer relationships built on trust, it is critical we provide features that create a seamless digital experience,” said Axos Bank Senior Vice President, Chief Digital Officer Michael Pfau. “We are delighted to be recognized by IDC for our success with Q2 ClickSWITCH, which has allowed us to increase deposit volume by 30 percent while simultaneously establishing a primary financial relationship with our customers.”

Now in its 8th year, the IDC FinTech Rankings Real Results Awards recognizes IT providers that have enabled a genuine, measurable, and future-enabling change at a client financial institution in the worldwide financial services industry. The IDC FinTech Rankings Real Results program is part of the broader IDC FinTech Rankings program that categorizes and evaluates the top global providers of financial technology based on calendar year revenues from financial institutions for hardware, software, and/or services. These providers supply the technological backbone of the financial services industry, an industry in which IDC Financial Insights forecasts worldwide spending on IT across the globe to be $590 billion (USD) by 2025.

The annual IDC FinTech Rankings and Real Results Awards have become an important measure of the health and direction of technology in the industry and the emergence of innovative solutions from new players. IDC Financial Insights publishes a comprehensive report about the year's findings that is available to view or download HERE.

For more information about the rankings, visit HERE and follow on Twitter @IDC and look for #IDCFinTechRanking.

For more information about Q2 ClickSWITCH and Axos Bank:

Read Digital Account Switching: The Key to Profitable Consumer Relationships

Read the Q2 Axos Bank Case Study

Read the Q2 Axos Bank Blog

About Q2:

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 Axos Bank

Born digital, Axos Bank empowers smarter money choices by offering a full suite of banking, investing, and personal financial management tools in one convenient place. Through its proprietary online banking platform, Axos gives customers access to a range of award-winning banking products built around competitive interest rates and no-to-low fees. Axos Bank holds over $17.5 billion in assets and is a wholly owned unit of Axos Financial, whose common stock is listed on the NYSE under the symbol "AX" and is a component of the Russell 2000^® Index, the KBW Nasdaq Financial Technology Index, and the S&P SmallCap 600^® Index. For more information about Axos Bank, please visit Axosbank.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220929005089/en/

Carly Baker

Q2 Holdings, Inc.

+1 210-391-1706

Carly.baker@q2.com

Source: Q2 Holdings, Inc.

FAQ

What recognition did Q2 Holdings receive from IDC?

Q2 Holdings was named a winner in the Omni-Experience Customer Engagement category by IDC.

How much did Axos Bank's deposit volume increase with Q2 ClickSWITCH?

Axos Bank experienced a 30% increase in deposit volume after implementing Q2 ClickSWITCH.

What is Q2 ClickSWITCH?

Q2 ClickSWITCH is a patented digital account switching software as a service (SaaS) solution.

What category did Q2 Holdings win in the IDC FinTech Rankings?

Q2 Holdings won in the Omni-Experience Customer Engagement category.

What are the IDC FinTech Rankings Real Results Awards?

They recognize IT providers that enable measurable changes at financial institutions.