Q2, a digital transformation solutions provider for financial services, has expanded its collaboration with Amazon Web Services (AWS) to expedite banking innovation for banks, credit unions, and fintech companies.
As part of the partnership, AWS and Presidio, a technology services provider and consulting partner in the Amazon Partner Network, will support Q2 in scaling its use of the AWS platform. This is expected to enable Q2 to bolster its digital banking products.
Q2 plans to integrate AWS technologies, such as generative artificial intelligence (AI), to support financial institutions in automating critical processes. It also aims to enhance customer service for both individual and business clients.
Under the expanded partnership, Q2 will also migrate and transform over 50,000 services on AWS. This includes its Q2 Innovation Studio and Partner Marketplace platform, which provide access to financial data and open banking services.
Q2 global technology senior vice president Jordan Hager said: “AWS has the financial services pedigree we need to provide the right security, privacy, and performance that our customers depend on.
“AWS also allows us to accelerate innovation for customers in areas like generative AI to help our customers make internal workflows simpler and less tedious, while delivering robust, personalised banking solutions.”
Headquartered in Texas, Q2 is engaged in enabling financial institution and fintech customers to offer comprehensive, data-driven digital engagement solutions for consumers, small businesses and corporate clients.
The company also leverages advanced technology to help financial institutions maximise their data for fraud detection, audience segmentation, and personalising user experiences.
Q2 Sentinel, a fraud detection tool built using Amazon SageMaker, monitors user behaviour on Q2’s digital banking platform and has already identified instances of fraud, helping save customers time and money.
In addition, Q2’s Andi Copilot, an AI-driven solution suite for commercial banking, uses Amazon Bedrock to automate workflows.
According to AWS, Q2 has been its customer for over six years and have used AWS services such as compute, storage, machine learning, and AI for its platforms.
AWS financial services general manager Scott Mullins said: “AWS’s generative AI capabilities are backed by the highest levels of security and privacy, giving financial services organisations the ability to automate clerical tasks and provide the information bankers need to spend more time on client-facing services.
“We’re excited to see Q2 continue to drive innovation for these financial institutions that help our local economies thrive.”
