Q2 Holdings is broadening its strategic partnership with Amazon Web Services (AWS) to accelerate digital banking innovation, particularly focusing on artificial intelligence solutions for regional and community banks.
The Austin-based financial technology provider announced on Tuesday that it would expand its deployment of AWS services across its digital banking platform, including its Q2 Innovation Studio solutions. The collaboration, which also involves technology services provider Presidio, aims to enhance security measures and automate routine banking processes through generative AI technology.
“Q2 is making it easy and efficient for regional and community banks to use technology like AI to help make more informed, data-driven decisions and tailor banking experiences,” said Scott Mullins, General Manager of Financial Services at AWS. He emphasised that AWS’s generative AI capabilities maintain stringent security and privacy standards whilst enabling financial institutions to streamline clerical tasks.
The partnership has already yielded notable results. Q2 Sentinel, a fraud detection tool built on Amazon SageMaker, employs machine learning and endpoint interrogation to monitor user behaviour on the digital banking platform. The company has also developed Andi Copilot, an AI solution suite for bankers powered by Amazon Bedrock, designed to automate workflows for commercial banking customers.
Jordan Hager, Senior Vice President of Global Technology at Q2, highlighted the importance of industry expertise in deploying AI solutions effectively. “Cloud and AI technologies are transforming banking, but they must have the working knowledge of the industry to provide the right recommendations to have real-world impact,” he said.
The expansion builds upon a six-year relationship between the two companies, during which Q2 has utilised AWS’s comprehensive suite of computing, storage, and analytics services. As part of the enhanced collaboration, Q2 will migrate more than 50,000 services to AWS, including its Innovation Studio and Partner Marketplace platform.
This move reflects a growing trend among financial technology providers to harness advanced cloud computing and AI capabilities whilst maintaining robust security measures. For regional and community banks, which often lack the resources to develop such technologies independently, the partnership could prove particularly valuable in helping them compete with larger institutions.
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