How Pendo helps Q2 give financial institutions the power of in-app messaging

Austin-based Q2’s mission is to build strong and diverse communities by strengthening their financial institutions. Q2 is a leading provider of digital transformation solutions for financial services companies, serving banks, credit unions, alternative finance companies, and fintechs in the U.S. and internationally. It allows these companies to provide comprehensive, data-driven digital engagement solutions for consumers, small businesses, and corporate clients. 

Putting in-app guidance and analytics in customers’ hands

Q2 has been a Pendo customer for years. Over time, their customers noticed the positive impact of Pendo guides on their user experience of the Q2 platform. These customers in turn wanted the ability to see their own usage data and roll out their own guides to their own customers to create more personalized digital experiences.

Timely, contextual, relevant customer-facing messaging is table stakes in today’s digital world. To help financial institutions deliver these personal experiences, Q2 became the first partner in Pendo’s Reseller Partner Program. Through this collaboration, Q2 Discover (a white-labeled Pendo solution) was born. Q2 Discover now plays a key role in Q2 Engage, a suite of consumer banking solutions designed to help financial institutions acquire and build life-long relationships with account holders.

Powering digital strategy with data

Q2 had long leveraged Pendo for in-app messaging and guides to onboard new financial institution users and communicate software updates, as well as Pendo Analytics to understand product utilization. Pendo-powered insights helped them make better development decisions while also providing self-service education and support to customers. 

To deliver the same Pendo functionality to financial institutions and their end users, Q2 Discover leverages Q2’s usage data and places each individual customer in their own siloed, white-labeled instance. That way, financial institutions only have access to their own users in the system, and there’s no chance of a system-wide error or data privacy issues. 

Leveraging the financial institution’s own data to build segments of users allows financial institutions to display tailored in-app messages, deliver tooltip guides to drive new feature awareness and usage, and onboard new users with their financial institution-specific content. 

Our financial institutions are always seeking ways to make their customers’ digital experiences the best they can be with the personal touch of a branch. Our partnership solution with Pendo (Q2 Discover) allows a path for this to happen.

Kathleen Hedgepeth, Senior Alliance Manager, Q2

A better product experience means happier, more engaged users

Q2’s partnership with Pendo has led to stunning results for its customers and their end users. Q2 financial institutions are able to foresee and predict their end users need before they arise through use of the rich data available within Discover. Q2 Customers have also seen other major improvements, including:  

•  400% increase in Net Promoter Score (NPS) for financial institution customers based on end-consumer survey responses after using in-app message guides with Q2 Discover.
• Reductions in call center volume to near zero for questions about available versus current balance within Q2 Engage (Q2’s suite of consumer banking solutions) by using Q2 Discover tooltip.
• 35% increase in e-statement enrollment on Q2 Engage through use of Q2 Discover walkthrough for e-statement opt in.  

I meet with the Pendo team regularly and anytime I need something they are quick to collaborate and find solutions together. Pendo works diligently to understand our specific requirements and find solutions that help us meet our desired outcomes.

Juhi Kumar, Product Manager, Q2

Expanding the partnership

Since rolling out Q2 Discover, Q2’s customers have been able to keep the momentum going by creating stickiness within end users’ banking experiences and onboarding. Q2 Discover has been so successful that Q2 has plans to expand it to other products, such as Q2’s ClickSwitch solution that helps new account holders move their direct deposit seamlessly. It’s also planning to release on-demand analytics dashboards and templates that customers can use to gain even more value from Q2 Discover. 

Through it all, the partnership with Pendo has been key. “The proximity and accessibility we have to the Pendo team as well as their outstanding communication has helped build the strong partnership we have today,” says Juhi Kumar, a product manager at Q2. Looking ahead, it’s a partnership that will continue to equip Q2 customers to provide the best possible digital experiences.