Q2 Powers the Majority of America’s Best Banks
Q2 Holdings announced that nearly 60% of the banks featured on Forbes' America's Best Banks list are Q2 customers. Forbes' list evaluates the top 100 publicly traded banks based on ten financial metrics including net interest margin, return on average tangible common equity, and operating revenue growth, among others. Q2 provides digital transformation solutions for financial institutions, including digital banking platforms, loan and depository relationship pricing, account opening, and risk management solutions. CEO Matt Flake stated that this recognition highlights the strength of Q2's partnerships and the role of digital experiences in banking success.
- Nearly 60% of Forbes' America's Best Banks are Q2 customers, showcasing strong market penetration.
- Q2 serves 58 of the top 100 banks, indicating widespread adoption of its solutions.
- Q2's solutions are recognized for enhancing digital experiences, important for modern banking success.
- Q2 offers a comprehensive suite of digital engagement tools, including banking platforms and risk management solutions.
- CEO Matt Flake emphasizes strong and diverse community building through financial institution support.
- No specific financial performance metrics for Q2 itself are shared in the PR, making it difficult to assess direct financial impacts.
- The press release does not provide data on how Q2's solutions specifically contributed to the metrics used by Forbes.
Insights
Q2 Holdings Inc. has made a noteworthy announcement, indicating that 58 out of the top 100 banks on Forbes' America's Best Banks list are their customers. This statistic underscores the significance of Q2's digital solutions in the financial sector. Given the diverse and comprehensive nature of Q2's offerings, including digital banking platforms and risk management tools, it is clear that these services are highly valued by leading financial institutions.
This achievement can be interpreted as a strong validation of Q2's product efficacy and the company's ability to meet critical banking needs. However, it's important to consider the direct financial impact on Q2 itself. While the association with top banks enhances Q2's reputation and credibility, the revenue growth and profit margins stemming from these relationships should be scrutinized in future earnings reports.
For retail investors, this news suggests that Q2 is well-positioned within the banking sector, potentially leading to sustained revenue growth. However, always consider the broader market dynamics and competitive pressures in digital banking solutions when evaluating long-term investment prospects.
The announcement by Q2 highlights the company's substantial market penetration within the U.S. banking industry. Nearly 60% of Forbes' top-ranked banks utilizing Q2's solutions suggests a high level of trust and satisfaction with their services, an important aspect for long-term market positioning.
Understanding the market dynamics, digital transformation is a critical trend in banking, with increasing emphasis on user experience and operational efficiency. Q2's ability to capture a significant share of high-performing banks indicates their solutions are not only effective but also essential in the current digital wave.
Retail investors should note the potential for Q2 to expand its market share further, especially as smaller banks and financial institutions seek similar digital transformation capabilities. However, it’s also important to monitor competitor activities and technological advancements that could impact Q2's market standing.
Nearly 60 percent of Forbes’ list of America’s Best Banks are Q2 customers
The annual Forbes’ America’s Best Banks list looks at 10 metrics measuring growth, credit quality and profitability for the 2023 calendar year, as well as stock performance in the 12 months through March 18, 2024. The 10 equally-weighted financial metrics are net interest margin; return on average tangible common equity; return on average assets; CET1 ratio; efficiency ratio; nonperforming assets as a percentage of total assets; reserves as a percentage of total assets; risk-based capital ratio; operating revenue growth; and net charge-offs as a percentage of total loans.
The top 200 largest publicly traded banks and thrifts by asset size were eligible for the list and the top 100 were ranked by Forbes. Of the top 100 banks, 58 are Q2 customers using one or more of Q2’s comprehensive, data-driven digital engagement solutions for consumers, small businesses, and corporate clients, which include solutions such as our digital banking platform, loan and depository relationship pricing, account opening and primacy, risk and fraud, and more.
“Our mission is to build strong and diverse communities by strengthening their financial institutions, and to see so many of our customers recognized is a testament to the strength of our partnerships and the role the digital experience plays in enabling banks to thrive and succeed,” said Matt Flake, CEO, Q2. “We congratulate the banks that are recognized and are proud to see our customers positioned as leaders within the banking industry.”
Please visit https://www.q2.com to learn how Q2’s solutions help banks and credit unions provide a better digital experience.
©2024 Forbes. All rights reserved. Used under license.
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
View source version on businesswire.com: https://www.businesswire.com/news/home/20240514239157/en/
Jean Kondo
Q2 Holdings, Inc.
+1 510-823-4728
jean.kondo@q2.com
Source: Q2 Holdings, Inc.
FAQ
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