Q2 helps Axos Bank to increase direct deposit volume
By Edlyn Cardoza
Q2 Holdings, Inc., a leading provider of digital transformation solutions for banking and lending, recently announced San Diego-based Axos Bank, a technology-driven financial services company, has partnered with the Company to increase direct deposit volume and boost customer engagement. By harnessing Q2 ClickSWITCH, Axos has increased direct deposits by 30% for Q2 ClickSWITCH-associated accounts and generated deeper customer relationships by establishing itself as the primary bank for its customers.
Q2 ClickSWITCH, a patented digital account switching software-as-a-service (SaaS) solution, enables financial institutions (FIs) to speed up and simplify new account onboarding by allowing customers to quickly switch their existing direct deposits and automatic payments securely and effortlessly.
Axos Bank Vice President of Consumer Product Management Mike Copans said, “By partnering with Q2 and deploying ClickSWITCH, our customers now have a simple way to instantly re-route their existing direct deposits over to their Axos accounts. Customers love it because it eliminates the headaches, paperwork and delays. We love it because it improves our bottom line and lets us leverage innovation to declutter the customer experience. The benefits are noticeable, and they continue to grow.”
“We are pleased to partner with Axos Bank, one of the nation’s oldest and most trusted digital banks, to transform their accountholder onboarding experience,” said Dallas Wells, SVP of Product Management, Q2. “Today’s announcement illustrates yet another way that Q2 helps banks and credit unions innovate faster, with freedom and flexibility. When we acquired ClickSWITCH, it was an investment in our mission of building strong and diverse communities by strengthening financial institutions. Deposits are the lifeblood of any financial institution, and we are glad that Q2 ClickSWITCH is delivering results, day after day, for Axos and its accountholders.”