Q2 Holdings Inc.
10/28/2024 | Press release | Distributed by Public on 10/28/2024 07:58
Brightside Selects Helix by Q2 to Migrate BaaS Program
Brightside offers savings and checking accounts, now powered by Helix, to companies to help employees facing financial hardship
AUSTIN, TX (OCTOBER 28, 2024)-Helix by Q2 (NYSE: QTWO), an award-winning, cloud-native core purpose-built for embedded finance, today announced its partnership with Brightside, a Financial Care benefit provider offered to employees by their employers. Brightside's savings, checking and business operations accounts, are now powered by Helix's banking as a service (BaaS) solution.
To help employees in need, Brightside directly offers products like debit cards, emergency savings accounts, cash advances, hardship programs, and other partner solutions, such as emergency loans and credit-building products.
Brightside chose Helix's BaaS solution to power its savings, checking and business accounts because it was far more reliable and scalable than their previous vendor's solution. Additionally, Helix enabled Brightside to have a direct relationship with their bank partner without the need for FBO accounts or middleware and provided the oversight, control, and tooling necessary for both parties to collaborate efficiently and effectively.
"One of the most appealing things about Helix by Q2 was that they've been at this for a long time, and we had confidence in their technical reliability and company stability," said Anthony Strike, Head of Partnerships at Brightside. "When we needed to speed up the implementation, Q2 helped cut the implementation time down significantly so that we were able to go live with all of our customers without any downtime."
Brightside's migration from their old BaaS partner to Helix took less than two quarters to go live, and they've already seen a significant reduction in the number of support tickets related to banking products. With the program live, Brightside can go beyond parity - evolving their offering over time to meet the growing needs of their customers.
"We are excited to partner with Brightside to improve financial wellness for people across the country," said Ahon Sarkar, senior vice president and general manager of Helix. "With financial stress rising amongst Americans, Brightside's human-first approach to eliminating financial stress and helping people along every point in their journey is needed now more than ever."
"Brightside's mission is to improve the financial lives of working families by offering employer-paid financial support, services, and products to employees to help them handle financial emergencies, stabilize finances, and achieve financial goals," continued Strike. "We are grateful for our partnership with Helix, and we are excited to continue building out Brightside's mission."
To learn more about Brightside's story, please click here.
About Helix by Q2
Helix's award-winning Banking-as-a-Service platform gives innovative fintechs and brands the building blocks of banking - accounts, cards, payments, data and controls, admin tools, and monetization solutions - to make it easy to embed personalized financial experiences that easily integrate and scale. For more information on Helix, visit helix.Q2.com. Follow us on LinkedIn and X to stay up to date.
About Q2 Holdings, Inc.
Q2 is a leading provider of digital transformation solutions for financial services, serving banks, credit unions, alternative finance companies, and fintechs in the U.S. and internationally. Q2 enables its financial institution and fintech customers to provide comprehensive, data-driven digital engagement solutions for consumers, small businesses and corporate clients. Headquartered in Austin, Texas, Q2 has offices worldwide and is publicly traded on the NYSE under the stock symbol QTWO. To learn more, please visit Q2.com. Follow us on LinkedIn and X to stay up to date.
About Brightside
Brightside created Financial Care, a new category in employee benefits, to help reduce financial stress for the seven in 10 Americans who are not financially healthy. Since 2018, its Financial Assistants, proprietary rules engine, and innovative product platform have helped thousands of families save more than $1,200 annually (on average) while improving emergency savings and reducing debt, resulting in improved retention, productivity, and workforce diversity while lowering healthcare costs. Brightside is located in San Francisco, CA; Chandler, AZ; and Philadelphia, PA. For more information, please visit gobrightside.com.
Media Contact
Maria Gari
Q2 Holdings, Inc.