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Q2

Core Provider

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  • Functionality & Response to Areas of Focus

  • Quick Facts

Functionality & Response to Areas of Focus

Core Functionality

Q2 states that Helix is a BaaS lightweight core exposed as an API, supporting the following:

  • Hosted on the MS Azure Cloud
  • FDIC-insured consumer DDA, high-yield savings, and joint accounts
  • Frictionless KYC/Onboarding via multiple vendor options
  • Custom debit cards (Plastic and digital)
  • Mobile wallet provisioning
  • Debit card controls
  • Early wage access
  • Early direct deposit pay
  • Mobile check deposit
  • Online bill payment
  • Global ATM network access and cash load networks
  • Real-time notifications
  • Web application for bank administrative functionality and support
  • Interest accrual
  • 1099-INT and monthly statement generation
  • Monthly OFAC re-verification
  • Monthly Reg D fee calculation
     

Firm's Response to Core Committee's Key Areas of Focus

Q2 states that data remains the property of the client, full access to data at any time with API queries and GUI reporting. No cost to access data. As such, banks are free to use Q2’s API to deliver their own integrations. 

  • Q2 states they provide an API portal and library.
  • Bank and third-party developers can access Helix sandbox and production environments.
  • All access to data and functionality is available through the Helix API. Data can also be available through batch file processing as an alternative.

(Including Exclusivity, Coterminous Contracts, Deconversion Fees, Limitation of Liability, SLAs and Early Termination Penalties)

Q2 states the following: 

  • No exclusivity provisions.
  • Deconversion fees are based on time and materials on published hourly rate. No exit barriers.
  • Limitations of Liability are variable; negotiated with customer, they could be a couple months, one year or term of contract.
  • Detailed SLAs and remedies included in all contracts.
  • Customer is responsible for the full value of the contract if terminated early.

Quick Facts

Quick Facts
Headquarters LocationAustin, Texas
Websitehelix.q2.com
Year Established2004
Ownership ModelPublic
Regionally Focused or NationalNationwide
Number of Cores Offered1
Name of Core SolutionHelix
FunctionalityLightweight, cloud-hosted core processing exposed as an API.
Target Bank Asset SizeN/A
Business StrategyQ2 states that Helix is the first and only lightweight, purpose-built core account processing system for standalone digital-only lines of business. Banks are using Helix as an innovation platform or a companion core to deliver new products and embedded finance through new channels and support partnerships, including with fintechs. These new channels and support of partnerships allow financial institutions to acquire customers and deposits. Helix is not designed to support full-service physical branch banking. Currently, Q2 does not consider Helix as a legacy core replacement or conversion option.