Q2 Contextual PFM
Q2 Contextual PFM is an embedded experience that provides comprehensive and actionable insights to end users to promote financial health. Traditionally, there has been a disconnect between online banking and PFM tools that has led to poor user experience and adoption. With Q2 Contextual PFM, account holders can utilize the self-service financial tools they want on any device in an environment with which they are familiar.
Q2 partnered with MX, utilizing the latter’s data aggregation engine and user interface to enable financial institutions to provide an intuitive, easily accessible money management dashboard to their account holders. Whereas many existing PFM tools are buried beneath various menu options and layers, Q2 Contextual PFM inserts practical data like spending and savings trends directly into the daily digital banking experience, giving account holders access to budgeting, debt management, net worth and other personal financial data critical to their financial health.
Q2 has integrated data-driven money management functionality directly into users’ online banking experiences by leveraging APIs provided by MX for account aggregation, transaction cleansing and transaction categorization, while MX’s UX/UI helps consumers visualize their net worth, budget and other financial management workflows.
In addition, Q2 Contextual PFM:
- Allows account holders to easily add external accounts and view them together with internal accounts on their online banking home page.
- Provides FIs a new opportunity to increase messaging opportunities and improve retention by capitalizing on additional impressions and reap the benefits of a more engaged customer. PFM user retention rates also increase over consumers who use online banking alone.
- Empower FIs to better understand account holders’ financial data through analytics and behavior, both in and out of the branch.
- Offers enhanced data visualization to allow consumers to view their personal data in a variety of ways (e.g. budgeting, spending, net worth, debts and trend) so they can better track and promote their own financial health.
Q2 Holdings, Inc.