The news: Q2 is enhancing its lineup with embedded-finance product Helix, which lets fintechs, consumer brands, and tech companies offer banking services to their customers. The new solution, part of the company’s banking-as-a-service (BaaS) platform, is a cloud-native core and includes multiple partner banks as sponsors.
More on this: Companies can use Helix to offer what Q2 calls “the building blocks of banking,” such as:
The BaaS provider numbers fintechs Acorns and Betterment as among its clients.
What does it do?: Q2 stresses that Helix is designed to help companies offer personalized banking products to their own customers.
The BaaS provider says that Helix’s personalization can scale to larger user bases, and that its cloud architecture reduces the cost of serving users’ accounts, compared with traditional cores.
The opportunity: Q2 helps Helix stand out in the BaaS space by positioning itself as a provider for banks and non-banks alike. That lets it tap into growth spaces that may prove lucrative:
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