DETROIT, Jan. 7, 2021 /PRNewswire/
-- Detroit-based
Autobooks, a holistic product suite for small business banking, has
joined financial experience company Q2 as the first Fintech to join
the Q2 Partner Marketplace.
Q2 created a marketplace – Q2 Partner Marketplace – in response
to financial institution demands to accelerate innovation delivery,
enhance digital solutions, and enable new, alternative revenue
opportunities. With Q2 Partner Marketplace, financial institutions
enjoy an elegant app-store experience that allows them to evaluate,
select, and deploy pre-integrated, branded third-party products,
like Autobooks, with just a few clicks. From that point
forward, individual account holders and small business banking
clients of those financial institutions can directly subscribe to
Autobooks as a turn-key solution that integrates into their
existing online banking platform.
"Q2 Partner Marketplace is exciting for our team because we can
continue to grow even faster, reach new customer bases and
implement quickly and easily," said Steve
Robert, CEO at Autobooks. "It's also great for financial
institutions because, with such a low barrier of entry, they can
quickly launch solutions like ours that are both revenue-drivers
for the institutions and game-changers for their small business
banking clients. Instead of spending months or years in
negotiations and implementation cycles, we can all focus on
delivering value to the end customers."
Financial institutions can leverage the Q2 Partner Marketplace
to dramatically increase their online and mobile banking offerings
while avoiding traditional risks like low adoption, high up-front
investment, and complex technical integrations. Much like an app
store, the Q2 Partner Marketplace allows third-parties to use Q2's
software development kit (SDK) to create and offer services
directly to account holders at partner institutions.
Autobooks has leveraged Q2's SDK to make their full product
suite available to account holders as a monthly subscription. For
account holders that do not need the full product suite, Autobooks
has directly integrated its invoicing and virtual terminal modules
into the Q2 digital banking experience. This enables account
holders to leverage Autobooks receivables capabilities on a
transactional basis native within digital banking, like they would
online bill pay or mRDC. Both the subscription and transactional
revenue generated is shared with the financial institution.
As an early adopter, Autobooks is already live with several
financial institutions through the Q2 Partner Marketplace. In
addition, the Detroit-based
fintech has an accelerating pipeline of new clients both evaluating
and actively onboarding the product to bring new value to their
account holders. With the partnership with Q2, Autobooks has been
able to bring these new clients to market in under 55 days.
"Q2 Partner Marketplace was created so financial institutions
can deliver a sophisticated, user-friendly app-store experience to
accelerate innovation delivery and provide incremental,
non-interest income and stickier, more engaged account holders,"
said Will Furrer, Q2's chief
strategy & marketing officer. "For fintechs, Q2 Partner
Marketplace provides what they and their investors want most—a
reliable, proven distribution channel that can fuel their growth
with attractive customer acquisition opportunities. Autobooks is a
prime example of how Q2 Partner Marketplace enables financial
institutions and fintechs to more easily partner, removing the
friction of delivering better banking experiences to the end
customer."
The Q2 Partner Marketplace was awarded Best In Show at the
FinovateFall 2020 event, showcasing the Autobooks extension in its
presentation to highlight the platform's unique model. Extensions
can be uploaded or built directly within the Q2 Partner Marketplace
by the financial institution, Q2, certified development groups or a
third-party fintech. The Q2 Partner Marketplace allows for both
monthly subscription and transactional fee revenue models, enabling
revenue to be created and shared to the mutual benefit of all
parties.
About Autobooks: Detroit-based Autobooks is a provider of small
business banking solutions that make it simple to get paid online,
manage cash flow, and automate accounting. Through Autobooks,
financial institutions can provide a small business Ecommerce
platform directly embedded within their existing digital banking
channels.
Visit www.autobooks.co to learn more.
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
throughout the world and is publicly traded on the NYSE under the
stock symbol QTWO. To learn more, please visit Q2.com. For
media inquiries, please contact Beth
Williams at beth.williams@Q2.com, or call 512-293-6013.
Press Contact:
Jennifer Horne
jenniferhorne@rockventures.com
313.265.5508
View original content to download
multimedia:http://www.prnewswire.com/news-releases/autobooks-becomes-first-fintech-to-launch-in-q2-partner-marketplace-301202147.html
SOURCE Autobooks