Q2 Holdings, Inc. (NYSE: QTWO), a leading provider of digital transformation solutions for banking and lending, today announced its partnership with Envisant, a NACUSO award-winning credit union service organization. Envisant will utilize Q2 Fabric to deliver prepaid card services to its credit union clients. Q2 Fabric is a full-stack solution that weaves together a best-in-class digital banking experience, a modern core (Helix), and a robust, pre-integrated fintech ecosystem to enable innovative financial institutions to offer unique and differentiated products.
Serving nearly 2,000 credit unions across all 50 states, Envisant’s forward-thinking product strategy features credit and debit programs, prepaid debit cards, portfolio development consulting, agent credit card programs, collection services, ATM services, marketing and more.
Envisant has partnered with Q2 to utilize Q2 Fabric, enabling Envisant to evolve and grow its prepaid, gift card, and travel card portfolio across its credit union clients while streamlining its back-office operations. Envisant plans to migrate existing cards from its previous prepaid provider to Q2 Fabric, upgrading the customer experience with minimal impact to cardholders. Once migrated, Q2 Fabric provides the foundation to drive future product growth and expansion.
“At Envisant, we’re committed to providing our credit union partners with innovative and efficient solutions that enhance the member experience,” said Libby Calderone, president and COO at Envisant. “Q2 Fabric’s integrated platform allows us to streamline our back-office operations and deliver a wider range of prepaid card options to our credit unions. This partnership empowers Envisant to evolve our prepaid portfolio while ensuring a smooth transition for our existing cardholders.”
Envisant fulfills the roles of both the program manager and the issuer of the program, bringing holistic, low-risk, product offerings, such as prepaid cards, that can be added to other core services.
“Historically, prepaid card programs have been offered in siloed systems that limit adoption and create friction in designing products and meeting the customers’ growing needs,” said Ahon Sarkar, general manager and senior vice president of Helix by Q2. “With Q2 Fabric, we’re bringing prepaid services into Helix’s modern cloud-native core, bringing personalization and innovation back to the world of prepaid services. We’re thrilled to partner with Envisant to help them evolve and grow their unique prepaid portfolio.”
Q2 Fabric launched in the fall of 2023 and is designed to empower banks and credit unions to deploy digital brands to profitably grow deposits. Weaving together a best-in-class digital banking experience, modern core, and robust, pre-integrated fintech ecosystem, Q2 Fabric is a leading full stack platform for digital retail banking, enabling innovative financial institutions to launch high-yield savings accounts, checking accounts, revenue-generating debit cards, prepaid card services, and more to grow their deposit footprint. Q2 Fabric runs alongside a financial institution’s core, complementing existing core functionality. With Q2 Fabric, any size bank or credit union can launch a differentiated direct bank, expand their product offering, or drive efficiency across their existing portfolio.