What does it take to be a top bank in these changing times?
Understatement of the year: staying competitive and innovative through an economic shutdown has been challenging. Financial institutions (FIs) have been forced to act fast, and after an extended period of uncertainty, are rebounding with vigor. Well-worn phrases like “digital transformation”, “customer centric”, and “streamlined operations” aren’t new concepts for FIs, but they’ve taken on a new significance since COVID-19 has forever altered business as usual. But what key characteristics differentiate the banks that have been able to thrive from those that continue to struggle?
Forbes recently released its 12th annual list of America’s best banks, which ranks the top 100 publicly traded financial institutions out of almost 5,000, scoring them based on their growth, credit quality, and profitability. All in all, there are 10 different metrics used in the rankings. And Q2 is excited to announce that 45 out of the top 100 banks recognized nationally use Q2 solutions to power their digital banking. Ranging across the U.S. and varying in asset size, these 45 FIs trust Q2 to help them differentiate their offerings, provide exceptional account holder experiences, and drive better growth.
Why it matters
While there are a unique set of circumstances governing each institution’s success, there are certain commonalities to be found in each one's mission and approach. As Q2’s Chief Strategy Officer, Will Furrer, puts it:
“We’re thrilled that so many Q2 customers are recognized on Forbes’ Best Banks list again this year, but we’re not surprised. Enabling their account holders to easily, quickly, and securely save, borrow, and spend is what account holders expect and it’s how leading banks build lasting relationships and grow their business. We want to congratulate all of the Q2 banks on this prestigious list and thank them for both their commitment to building stronger communities and to our partnership.”
Here are the Q2 customers recognized:
- Ameris Bancorp
- Atlantic Union Bankshares
- BancorpSouth
- Bank of America
- Bank OZK
- Banner Bank
- Cathay Bank
- Central Bancompany
- Citizens Bank
- Columbia Bank
- Customers Bankcorp
- First Citizens Bank
- First Financial Bank
- First Hawaiian Bank
- First Interstate Bank
- First Merchants
- First Midwest Bankcorp
- First Republic Bank
- Flagstar Bankcorp
- Heartland Financial
- Independent Bank Group
- International Bancshares
- Investors Bancorp
- JPMorgan Chase
- Mechanics Bank
- Northwest Bank
- Old National Bank
- Pacific Premier
- People's United Bank
- Provident Bank
- Renasant Bank
- Sandy Spring
- Simmons Bank
- South State Bank
- Synovus Financial
- Texas Capital Bank
- Trustmark
- UMB Financial
- Umpqua Holdings
- United Community Bank
- Valley National Bank
- Webster Financial
- WesBanco
- WSFS
- Zions Bancorp
Congratulations again to these Q2 customers and all the banks that were recognized on Forbes’ America’s Best Banks 2021 List! Click here to explore the full list of America’s Best Banks and learn more about the ranking criteria.
