Q2 Announces New Solution to Help Financial Institutions Connect Digital Banking With ERP Systems for Commercial Clients

Direct ERP enables banks and credit unions of all sizes to compete for large commercial customers with accounting system integration

Q2 Holdings, Inc. (NYSE: QTWO), a leading provider of digital transformation solutions for financial services, today announced Direct ERP, a new solution designed to help banks and credit unions enable banking operations directly within commercial customers' enterprise resource planning (ERP) systems. Direct ERP aims to ease the reconciliation process for businesses’ accounting departments, leading to greater transparency, increased cash flow, reduced processing time and less manual involvement.

Manual financial processes create inefficiencies between banking and accounting systems, posing challenges to businesses and resulting in poor user experience and a drain on staff and financial resources. Direct ERP removes this friction by integrating banking directly into the ERP system, which automates workflows, enhances security and reduces errors and operational effort for integrations and payment processing. Direct ERP allows commercial clients to initiate payments, retrieve account data and manage reporting and approvals directly from their ERP or accounting system.

"Commercial customers demand efficient and reliable integration between their banking and accounting systems," said Q2 Chief Technology Officer Adam Blue. "Direct ERP enables banking operations within the ERP software experience, automating critical payment and reporting workflows. This allows banks and credit unions of all sizes to compete for even the largest corporate customers."

Most financial institutions still struggle to support this level of integration. According to Datos Insights research, 91% of North American mid-size and large businesses say it’s important to conduct banking operations directly within their ERP systems, but few banks and credit unions offer the tools to make that possible.

“At Synovus we’re committed to prioritizing automation and streamlining complex processes for our commercial clients,” said Katherine Weislogel, head of treasury and payment solutions at Synovus. “This new solution enhances our integration technology capabilities and transforms how we support them more efficiently.”

Direct ERP is part of Q2 Direct Data Services, a product family that also includes Direct Payables and Direct Account Recon. Collectively, Q2 Direct Data Services offers financial institutions the opportunity to build stronger bonds with commercial customers by automating the delivery and receipt of payment files via Secure File Transfer Protocol (SFTP) or Application Programming Interface (API).

Integration for Direct ERP into the Q2 Digital Banking Platform is enabled via connection partners such as Koxa and Ninth Wave, who provide access to key ERP systems including NetSuite, Workday, Sage Intacct, Microsoft Dynamics Business Central, QuickBooks, and Xero, among others.

Direct Data Services is a key component of Q2 Catalyst, a suite of best-in-class commercial banking solutions designed to help banks and credit unions win more deals, onboard clients faster, serve them better, and grow profitable relationships.

To learn more, visit https://www.q2.com/solutions/commercial-banking, and read Q2’s blog “Accounting System Integration: The Next Must-Have for Commercial Banks" and whitepaper “Modernizing B2B Payments”.

About Q2 Holdings, Inc.

Q2 is a leading provider of digital transformation solutions for financial services, serving banks, credit unions, alternative finance companies, and fintechs in the U.S. and internationally. Q2 enables its financial institution and fintech customers to provide comprehensive, data-driven digital engagement solutions for consumers, small businesses and corporate clients. 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. Follow us on LinkedIn and X to stay up to date.

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