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Q2 Announces Fourth Capital as Its First Bank Partner to Offer Rocket Mortgage’s Digital Home Loan Process
Rhea-AI Impact
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Rhea-AI Sentiment
(Very Positive)
Tags
partnership
Rhea-AI Summary
Q2 Holdings (NYSE:QTWO) announced a partnership with Fourth Capital Bank, integrating Rocket Mortgage’s digital home loan solution into the bank's mobile app and online banking. This integration, enabled by Q2’s Innovation Studio Marketplace, offers clients streamlined access to Rocket Mortgage's services, enhancing their banking experience. Fourth Capital aims to combine digital efficiency with personal service, while Rocket Mortgage, rated #1 in client satisfaction for primary mortgage origination, enhances accessibility for Nashville area homebuyers. This partnership marks a significant advancement in community banking and digital lending solutions.
Positive
Partnership with Fourth Capital Bank to integrate Rocket Mortgage improves customer access to digital home loans.
Rocket Mortgage's #1 ranking in client satisfaction enhances credibility.
Q2 Innovation Studio Marketplace enables banks to access advanced technologies without upfront investments.
Negative
None.
Powered by Q2, Fourth Capital can now provide clients with easy access to Rocket Mortgage directly from the bank’s mobile app and online banking experience
AUSTIN, Texas--(BUSINESS WIRE)--
Q2 Holdings, Inc. (NYSE:QTWO), a leading provider of digital transformation solutions for banking and lending, today announced that Fourth Capital Bank – a Nashville, TN-based community bank – now offers Rocket Mortgage’s best-in-class digital home loan application process solution through integration with Q2’s digital banking platform. It is the first bank to launch the integration between Rocket Mortgage and the bank’s own mobile app and online banking experience.
The introduction of Rocket Mortgage within Fourth Capital Bank’s digital banking experience is enabled by Q2 Innovation Studio’s Marketplace Program, which provides an app store-like experience for banks and credit unions. The Q2 Marketplace enables financial institutions to evaluate, select and deploy applications from a catalog of pre-integrated third-party products with no up-front investment.
“Rather than trying to build a mortgage lending service ourselves from scratch, we launched the award-winning Rocket Mortgage solution through Q2’s Innovation Studio Marketplace,” said Brian Heinrichs, CEO at Fourth Capital Bank. “We’re combining digital tools, facilitated by Q2 Innovation Studio, with a human touch to provide an exceptional experience for our clients by bringing together desired relationships and the talent, tools and sophistication that people might expect from a larger institution. We can’t wait to see the impact this partnership has on our organization, customers and community.”
“We are excited to see the launch of Rocket Mortgage within Fourth Capital Bank’s digital banking experience,” said Jonathan Price, EVP Emerging Businesses, Corporate and Business Development at Q2. “The combination of Rocket Mortgage’s proprietary home loan process and Fourth Capital’s propensity for customer-focused innovation, along with the powerful technology behind Q2’s Innovation Studio, makes this launch both compelling and unique. It serves as an indicator of what’s to come for banking and financial technology providers, and we look forward to future collaborations.”
In November 2022, Rocket Mortgage was named #1 in the nation for client satisfaction in primary mortgage origination by J.D. Power for the 12th time. This accolade was driven, in part, by the lender’s digital tools – providing speed and certainty in the mortgage process – which are now available to community banks and credit unions through Q2.
“This comes at a perfect time for homebuyers in the Nashville area. As we head into the prime spring home buying season, Fourth Capital account holders now have the convenient Rocket Mortgage application process at the tips of their fingers, inside the banking app they already use,” said Sam Schey, EVP of Strategic Partnerships for Rocket Mortgage. “Our goal is to give this power to consumers across the country. Through the Q2 Innovation Studio, financial institutions can provide our renowned digital mortgage experience to their clients while keeping the banking relationship.”
To learn more about this partnership, visit our recent webinar.
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 consumers to small businesses 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.
Visit here to learn more about how these financial institutions and fintech companies developed their innovation through Q2 Innovation Studio.
About Rocket Mortgage
Detroit-based Rocket Mortgage, the nation’s largest home mortgage lender and part of Rocket Companies (NYSE: RKT), enables the American Dream of homeownership and financial freedom through its obsession with an industry-leading, digital-driven client experience. Since its founding in 1985, Rocket Mortgage has closed $1.5 trillion of mortgage volume across all 50 states. In late 2015, it introduced the first fully digital, completely online mortgage experience.
Rocket Mortgage moved its headquarters to downtown Detroit in 2010. The company generates loan production from web centers in Detroit, Cleveland and Phoenix and operates a centralized loan processing facility in Detroit.
Rocket Companies, Rocket Mortgage's parent company, ranked #7 on Fortune's list of the "100 Best Companies to Work For" in 2022 and has placed in the top third of the list for 19 consecutive years.
Locally owned and privately held, Fourth Capital was founded in 2004 as a community bank designed to serve Music City for generations to come. Fourth Capital is a full-service community bank, combining digital tools with human touch to create a premier banking experience. The Fourth Capital name is a nod to a moment in Nashville’s history that may surprise many as the city was the fourth capital in the history of the state. The bank’s headquarters office is at 10 Lea Avenue in the historic Rolling Mill Hill neighborhood at Peabody Plaza, with branches in Nashville at 4007 Hillsboro Pike (Green Hills) and Franklin at 9000 Carothers Parkway (Cool Springs). For more information, visit fourthcapital.com.
