Eli Lilly Federal Credit Union selects Q2 for implementation
Q2platform allows global organization to provide members with dependable and consistent account information regardless of device or location
AUSTIN, TX (September 16, 2013) — Q2, the leading provider of enterprise solutions for secure virtual banking, today announced its successful implementation of the Q2platform with Eli Lilly Federal Credit Union (Elfcu). The Q2platform allows Elfcu to provide members with a unified experience across all channels, consolidate reporting, and with the addition of Q2mobility by the end of 2013, offer mobile bill pay.
With more than 45,000 members in 40 countries—20,000 of whom regularly conduct virtual transactions—dependable online banking is now an essential for Elfcu.
“We chose Q2 because they are a true strategic partner, not just a vendor. They are continually innovating and progressing,” said Tim Greene, vice president of information technology at Elfcu. “Our customer base is well educated, well paid, and tech savvy, so we have chosen to invest in technology, rather than brick and mortar, to bolster our offerings and meet members’ expectations. It is much more appealing for our members to have one username and password and to be able to view the same information regardless of the device. That experience is our focus and Q2 allows us to get there.”
“Elfcu is a very strong and successful financial institution that understands and values the importance of technology and innovation in the banking space. They came to us with a clear vision of providing their members with a consistent and unified experience – we were perfectly aligned from the very first conversation,” said Matt Flake, CEO and president of Q2. “We laid out an implementation road map together and have begun delivering an experience that Elfcu members will value, even as they adopt new devices. We look forward to continuing our partnership as we add Q2mobility Apps and potentially other features.”
The implementation of the Q2platform allows Elfcu to provide its members with:
Unified Member Experience: Members experience the same look and feel across all channels and only need one username and one password to access all information.
No Down Time: Members will always have access to their account information. Information is displayed in real time, and if there is a connectivity issue members can still view account history from the previous business day and conduct transactions that will post once connectivity is restored.
Security: Intuitive, user-friendly security system protects members from the most common forms of online theft.
“The transition to the Q2platform has been as smooth as I have ever experienced. The support and responsiveness of the Q2 team has been a breath of fresh air,” said Greene. “There is always a sense of urgency to resolve any and all issues. The new system has also helped us reduce costs, and since Elfcu is member owned, lower operating costs mean lower loan rates and higher savings rates for our members.”
Elfcu provides personalized financial products and services to more than 50,000 members in 40 countries through the safe harbor of a consumer-owned credit union. Currently, Elfcu offers membership through 40 companies including Eli Lilly and Company, its largest select employee group (SEG). Elfcu is seeking additional SEGs this year to expand its reach of quality, value-driven financial solutions. Employers can offer Elfcu membership as a no-cost enhancement to their existing employee benefits packages. To learn more about Elfcu visit elfcu.org.
Headquartered in Austin, Texas, Q2 (previously Q2ebanking) is a leading provider of virtual banking for financial institutions. Q2’s enterprise SaaS solutions empower banks and credit unions to swiftly and securely provide their account holders with anytime, anywhere banking on any device. Currently, more than 400 financial institutions and 3 million individuals use the Q2platform. Q2 provides flexible deployment options for tablet, mobile, online and voice banking paired with an integrated security layer that mitigates fraud risk at the transaction level in real time. Named by the Austin American-Statesman as one of the best places to work, Q2 has also received recognition from Inc. Magazine as one of the fastest growing companies in the U.S for four years in a row. Q2 received $20 million in Series C financing in March 2013, led by Battery Ventures with continued support from Adams Street Partners. To learn more about Q2 visit q2ebanking.com