Accelerating the Innovation Pipeline
With Q2, Visions is putting digital banking tools in members’ hands faster.
“With Q2 Innovation Studio, we can take something from inception to execution in six months or less, maybe even three months or less, which is warp speed in comparison to what we’ve been doing in the past.”
About Visions Federal Credit Union
- Headquarters
- Endwell, New York
- Assets Under Management
- $5.4 billion
- Solutions
- Q2 Digital Banking Platform™, Q2 Innovation Studio
Challenge
Visions FCU needed to enhance the digital banking experience for its customers
After going live with the Q2 Digital Banking Platform, the credit union wanted to offer even more options for its members, and the Q2 Innovation Studio was the key to success
Solution
Putting new solutions to the test
With Q2 Innovation studio, Visions FCU leveraged intelligent marketing automation, modified its skip-a-pay offerings to address COVID-related hardships, and integrated with the money management tool, MX. This allowed members to leverage simple, automated budgeting capabilities, and to embed Experian’s IDNotify identity protection service into their digital banking experience
Results
Q2 Innovation Studio provided numerous results for Visions FCU, including:
- 25-fold increase in adoption of financial management tools, going from 1,500 members to more than 40,000
- Micronotes integration, resulting in $8M in additional deposits with 4,300 members signing up for IDNotify in the first few months
- Triple the speed of its innovation lifecycle
- The ability to use rich data to offer members more granular, substantive interactions
