Every year, Q2 provides financial institutions (FIs) with comprehensive industry updates and networking opportunities during CONNECT, its annual client conference. This year, Q2 shifted CONNECT 20 to a series of events in the digital channel, responding to FIs’ needs of a more flexible schedule, as well as relevant content specific to this unique moment in time.
Q2 wanted to honor the CONNECT 20 award recipients by showing a more in-depth, online spotlight on the incredible accomplishments executed this past year. Winners were recognized for excellence in eight separate categories.
Growth – Bask Bank
The CONNECT 20 award for Growth honors an FI that leverages Q2 technology to deliver the best financial experience to account holders in order to increase adoption and engagement.
This year’s Growth award recipient, Bask Bank, was created in 1999 by Texas Capital Bank, establishing the first online-only savings bank in the U.S. To celebrate a 20-year relationship with American Airlines, Bask Bank set out to create a new opportunity for account holders that provided a greater reward for every dollar saved in comparison to the traditional savings account interest model.
Strategy and Results
Leveraging technology components from the Q2 Platform, Q2 Gro products’ onboarding technology, and the Q2 Caliper software development kit, Bask Bank quickly designed and executed a savings opportunity that provided an enhanced reward on savings. Instead of the traditional savings model based on interest, which yields an industry average of around .09% or less, every dollar saved yields an American Airlines AAdvantage® mile for Bask Bank account holders.
This offering has benefitted account holders while also paying off for Bask Bank, which has seen resulting growth in large deposits.
Visit the Bask Bank website to learn how the FI’s account holders can leverage this opportunity to make the most of their savings goals. Congratulations to Bask Bank on exemplifying the smart use of technology to win this CONNECT 20 award.
Bookmark and visit the Q2 blog for upcoming posts showcasing additional winners who’ve exemplified best-in-class services.
