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.
Innovation – Stanford Federal Credit Union
The CONNECT 20 Innovation award honors FIs that have worked to realize new and creative visions for the future of digital banking.
This year’s award recipient is Stanford Federal Credit Union (Stanford). Located in the heart of California’s Silicon Valley, Stanford serves more than 74,000 members who live and work in an area celebrated for its innovative spirit. The Stanford team recognized an opportunity to improve the poor user experience and economic pain associated with international wire transfers and set out to solve the issue by leveraging its innovation experience.
Strategy and Results
Stanford has used the power of the Q2 Caliper Software Development Kit (SDK) to build solutions for its members. In addition to using the Q2 Caliper SDK to meet its objectives, Stanford added the London-based online money transfer service TransferWise into the equation, making Stanford the first FI in the U.S. to deploy TransferWise for international money movement. This innovative approach to problem-solving has boosted member satisfaction while lessening the impact of international wiring costs. Stanford members have avoided over $200,000 in wiring fees while enjoying an improved user experience through the Q2 Caliper SDK.
Q2 is proud to partner with an FI that reflects the importance of change and innovation. Congratulations to Stanford FCU for continuing to innovate their business and winning this CONNECT 20 award.
Bookmark and visit the Q2 blog for upcoming posts showcasing additional winners who’ve exemplified best-in-class services.
