Q2 Helps First Financial Bank Boost Customer Engagement and Cost Savings
“What I value most about Q2 is that they do a lot of the legwork that I would have to do. I don’t know that I would have found these (fintech) companies otherwise. The fact that they’re already integrated into Q2’s platform, and I can configure them for my environment in significantly less time, is tremendous. There’s no way we could move this fast if we didn’t have Q2 as a partner.”
About First Financial Bank
- Headquarters
- Abilene, Texas
- Assets Under Management
- $14 billion
- Solutions
- Q2 Digital Banking Platform, Q2 Composable Dashboard, Q2 Innovation Studio, Q2 ClickSWITCH, Q2 CPFM
Challenge
First Financial Bank needed to differentiate itself and modernize its consumer digital banking experience
First Financial Bank's customer base has historically skewed toward more rural, mature populations, but today, they’re also seeing an influx of young urban customers who want banking to be as instant and intuitive as all their other digital interactions. That’s why First Financial is committed to extending their white-glove branch experience beyond their doors with seamless, comprehensive digital tools that help all Texans put their best foot forward—which is where their partnership with Q2 comes in. In addition to leveraging Q2's robust digital banking platform, the bank sought other Q2 solutions to help differentiate itself from competitors.
Solution
Q2 Engage helps the bank scale to meet customer demands
First Financial Bank integrated both Q2 Contextual Personal Financial Management (“CPFM”) and SavvyMoney, now able to see customers start out with credit scores and then make improvements over time. The solutions have helped the bank cement its existing relationships and strengthen new ones, too. The bank also rolled out ClickSWITCH, which lets customers transfer direct deposits and recurring payments into their First Financial accounts.
First Financial also added one of Q2’s newer solutions, Composable Dashboard, offering customers an intuitive, personalized banking experience. It helps financial institutions curate relevant content and products on the customer’s home page.
Results
Q2 has helped First Financial Bank achieve the following:
- Increased digital transaction volume to $45 billion annually.
- Retail and treasury management logins exceeded 44 million in twelve months.
- Ensure digital active users are 50% less likely to leave the bank than customers not enrolled in online banking.
- Significant cost savings, at just 7 cents per digital login or $11.67 per customer per year.
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Automated Dispute Tracking System saves overhead costs, reduces manual errors and delights customers.
