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Q2 HOLDINGS, INC.

(QTWO)
  Report
Delayed Nyse  -  04:00 2022-12-02 pm EST
27.67 USD   -0.72%
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Q2 and Axos Bank Win 2022 IDC FinTech Rankings Real Results Award

09/29/2022 | 10:01am EST

Leading industry analyst firm IDC names Q2 a winner in the Omni-Experience Customer Engagement category for customer Axos Bank’s success with Q2 ClickSWITCH

Q2 Holdings, Inc. (NYSE:QTWO), a leading provider of digital transformation solutions for banking and lending, announced today that it has been named alongside Q2 customer Axos Bank (Axos) as a winner of the 2022 IDC FinTech Rankings Real Results Awards in the Omni-Experience Customer Engagement category.

Axos Bank is a leader in technology-driven financial services with a continued commitment to innovation, efficiency, and ease of use for over two decades. Through the implementation of Q2 ClickSWITCH – a patented digital account switching software as a service (SaaS) solution – Axos Bank, a digital bank with $17.5 billion of assets, enables new customers to seamlessly and securely switch recipient accounts for their direct deposits and onboard new customer accounts quickly and efficiently, increasing Axos Bank’s primary banking relationship with customers. After rolling out Q2 ClickSWITCH, Axos Bank measured a 30 percent spike in deposit volume for all Q2 ClickSWITCH-associated accounts.

“We are proud to be recognized alongside one of the nation’s most trusted digital banks for our aligned commitment to enhancing the customer experience through innovative solutions such as Q2 ClickSWITCH,” said Dallas Wells, senior vice president of Product Management, Q2. “Today’s announcement is a reminder of the significant impact this dedication has on moving the needle forward for the overall quality of engagement between a financial institution and its customers.”

“As a financial institution that takes pride in developing and maintaining customer relationships built on trust, it is critical we provide features that create a seamless digital experience,” said Axos Bank Senior Vice President, Chief Digital Officer Michael Pfau. “We are delighted to be recognized by IDC for our success with Q2 ClickSWITCH, which has allowed us to increase deposit volume by 30 percent while simultaneously establishing a primary financial relationship with our customers.”

Now in its 8th year, the IDC FinTech Rankings Real Results Awards recognizes IT providers that have enabled a genuine, measurable, and future-enabling change at a client financial institution in the worldwide financial services industry. The IDC FinTech Rankings Real Results program is part of the broader IDC FinTech Rankings program that categorizes and evaluates the top global providers of financial technology based on calendar year revenues from financial institutions for hardware, software, and/or services. These providers supply the technological backbone of the financial services industry, an industry in which IDC Financial Insights forecasts worldwide spending on IT across the globe to be $590 billion (USD) by 2025.

The annual IDC FinTech Rankings and Real Results Awards have become an important measure of the health and direction of technology in the industry and the emergence of innovative solutions from new players. IDC Financial Insights publishes a comprehensive report about the year's findings that is available to view or download HERE.

For more information about the rankings, visit HERE and follow on Twitter @IDC and look for #IDCFinTechRanking.

For more information about Q2 ClickSWITCH and Axos Bank:

Read Digital Account Switching: The Key to Profitable Consumer Relationships

Read the Q2 Axos Bank Case Study

Read the Q2 Axos Bank Blog

About Q2:

Q2 is a financial experience company dedicated to providing digital banking and lending solutions to banks, credit unions, alternative finance, and fintech companies in the U.S. and internationally. With comprehensive end-to-end solution sets, Q2 enables its partners to provide cohesive, secure, data-driven experiences to every account holder – from consumer to small business and corporate. Headquartered in Austin, Texas, Q2 has offices worldwide and is publicly traded on the NYSE under the stock symbol QTWO. To learn more, please visit Q2.com.

About Axos Bank

Born digital, Axos Bank empowers smarter money choices by offering a full suite of banking, investing, and personal financial management tools in one convenient place. Through its proprietary online banking platform, Axos gives customers access to a range of award-winning banking products built around competitive interest rates and no-to-low fees. Axos Bank holds over $17.5 billion in assets and is a wholly owned unit of Axos Financial, whose common stock is listed on the NYSE under the symbol "AX" and is a component of the Russell 2000® Index, the KBW Nasdaq Financial Technology Index, and the S&P SmallCap 600® Index. For more information about Axos Bank, please visit Axosbank.com.


ę Business Wire 2022
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Analyst Recommendations on Q2 HOLDINGS, INC.
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Financials (USD)
Sales 2022 569 M - -
Net income 2022 -96,2 M - -
Net Debt 2022 275 M - -
P/E ratio 2022 -16,4x
Yield 2022 -
Capitalization 1 591 M 1 591 M -
EV / Sales 2022 3,28x
EV / Sales 2023 2,85x
Nbr of Employees 2 026
Free-Float 96,2%
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Number of Analysts 15
Last Close Price 27,67 $
Average target price 36,91 $
Spread / Average Target 33,4%
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Managers and Directors
Matthew P. Flake President
David J. Mehok Chief Financial Officer
Robert Hank Seale President & Chief Executive Officer
Adam D. Blue Chief Technology Officer
Tony Hall Senior Vice President-Engineering & Product
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