AUSTIN, Texas–Q2 Holdings has launched Q2 Open, a new portfolio of open API financial services. The company said any organization looking to provide financial services—financial institutions, fintech companies and leading brands—can utilize Q2 Open to develop and enhance their own financial apps and tools.
“Our mission is to strengthen financial institutions, and as our industry evolves, our clients need new ways to deliver innovative financial services,” said Matt Flake, CEO of Q2. “Q2 Open is designed to make it easier, faster and more cost-effective to develop digital financial tools and represents meaningful opportunities for financial institutions and fintechs to partner and drive new growth.”
Q2 Open is comprised of four services consumed through open APIs, which allow development-capable organizations to build front-end interfaces and experiences on top of Q2 Open’s existing technology infrastructure, according to the company.
Services include:
- Q2 Debit, which enables federally insured checking account creation into applications and offers branded debit cards integrated into Visa or MasterCard rails.
- Q2 Save, which offers fully functional, compliant and cost-effective savings accounts with account and routing numbers inside an application.
- Q2 Ledger, which provides ledgering functionality for “For the Benefit Of” (FBO) accounts—an alternative to traditional checking and savings accounts.
- Q2 Biller Direct, which aggregates users’ bills and payments into a single view, enabling bill presentment, aggregation and bill pay functionality into their applications.