Moven announces collaboration with Q2
Turn-key product offering can be deployed in as little as 30 days
NEW YORK, NY (November 17, 2020) — Movencorp, Inc., the NY-based fintech innovator announced a collaboration with Q2, a secure, cloud-based digital transformation company headquartered in Austin, Texas, to provide a turn-key digital bank-in-a-box that can be deployed in as little as 30 days. This latest endeavor by Moven further solidifies the company’s strategic shift to providing its patented financial wellness and data and behavior analytics product offering to banks and financial institutions in the United States.
The initial product rollout will focus on Moven’s aggregation and savings tools used in conjunction with Q2’s cloud-based core processor, CorePro. Featured offerings will include an instant deployment model with real-time alerts + notifications; accounts issuance for savings and DDA; along with additional features such as instant external account verification, Wishlist savings and a “break-glass-to-use” emergency account.
Industry expert and advisor Bryan Clagett approached Moven and Q2 over the summer suggesting the two organizations shared a similar vision. “Many credit unions are frustrated with their legacy core provider and want flexibility and affordability in delivering solutions that empower the consumer,” he stated. “Digital banking, as we know it, is evolving quickly and bringing fintech organizations together that have complementary competencies is key to the future of the financial services industry.”
Kesh Talwar, CEO and CRO at Moven, said of the collaboration, “Working with Q2 allows credit unions of all sizes to accelerate their consumer facing digital offering. Having a complete view of customer financial behavior, along with Moven’s data analytics, will increase contextual customer engagement. Improved customer engagement will result in lower attrition rates, increased revenues and acquiring new customers digitally at a lower cost.”
“We are thrilled that Q2’s CorePro system was selected by Moven to power this initiative,” said Paul Walker, GM of Q2 BaaS. “Now any financial insitution can have its own Marcus or Chime in a matter of a few weeks.” Walker added that CorePro is the first and only core processing system purpose built for standalone, digital-only lines of business.
Brett King, Moven’s founder and Chairman added, “We started as a challenger bank in the US market before collaborating with banks and FIs around the world, so we understand what it takes in the post-COVID digital world to stand out. The Q2 alliance is our first major core partnership in the US, and no doubt will set a steep benchmark for other providers in the space.”
Moven provides a secure cloud-based software solution to fintechs and financial institutions on five continents with over 10 million users. The express goal is to offer the best integrated financial wellness experience and contextual banking capabilities to financial institutions via mobile, web, and voice.
For over a decade, Moven has delivered unique technology solutions to fintechs and legacy banks and credit unions to develop API- and SDK-driven challenger banks. Partners rely on Moven's Financial Wellness® platform to provide real-time customer insights, resulting in reduced attrition, increased engagement, and revenue enhancement opportunities. Moven delivers customized, scalable solutions for each of our partners to best serve the needs of their customers. To learn more, visit moven.com or contact Gregg Early at email@example.com.