Rapid Finance New Tie Up with Q2

Rapid Finance, a leading small business financing platform, has announced its integration with Q2's Digital Banking Platform and its participation in the Q2 Partner Marketplace. This move aims to provide small business lending solutions to Q2's digital banking customers.

Key Details:

1. Integration Specifics:

   • Rapid Finance will offer small business financing solutions via the Q2 Digital Banking Platform

   • The integration enables a seamless, secure, and API-driven experience for customers

2. Q2 Partner Marketplace:

   • Part of the Q2 Innovation Studio solution

   • Allows banks and credit unions to provide innovative applications within their digital banking solution

3. Financing Options:

   • Small business loans

   • Sales-based financing

   • Business lines of credit

4. Benefits for Financial Institutions:

   • Ability to offer flexible financing options

   • Fast access to working capital for their business banking customers

   • Opportunity to complement existing commercial offerings

   • Potential to create new revenue streams

   • Support for local communities

Quote from Rapid Finance CEO, Will Tumulty

"Rapid Finance's robust financing products will empower Q2's clients to offer services tailored to meet the specific needs of their business banking customers. We are pleased to be a part of the Q2 Partner Marketplace and to help even more small businesses gain access to essential working capital through the banks and credit unions that serve them."

Our Opinion

This team-up between Rapid Finance and Q2's Digital Banking Platform shows a new trend: regular banks and new financial companies are joining forces. We're seeing more partnerships, buyouts, and competition between banks and fintech firms as this continues.

This changing scene will probably speed up the use of open banking and API-based services. This will create a more connected, but also more complex, financial world. To keep up, alternative lenders need to stay flexible and keep coming up with new ideas. This is crucial not just to stay relevant, but to help shape the future of finance.

Video Interview: Rapid Finance's Ultimate Financial Machine

Headlines You Don’t Want to Miss

North Avenue Capital Forms Strategic Alliance with Veritex Bank

North Avenue Capital has partnered with Veritex Bank to enhance its capacity to support underserved businesses across the U.S., with Veritex directly funding $200 million to NAC's USDA loan portfolio. This collaboration positions NAC as one of the leading lenders in the Small Business Administration (SBA) sector.

Keycorp Restructures Portfolio for Higher Returns

Keycorp's move demonstrates proactive steps to gain maximum benefits from the prospective scenario of rising interest rates. The sale of low-yield investments and the focus towards commercial loans could offer better returns for KeyCorp, backed by the expectation of a one-time gain of $210 million.

Fiserv Dominates Global FinTech Rankings Again

Fiserv has secured the top spot in IDC Financial Insights' FinTech Rankings for the fourth consecutive year, recognized for its technology solutions that empower global financial institutions. The company's success in the rankings, which evaluate financial technology providers based on revenue, underscores client trust in its integrated solutions spanning payment processing and risk management.