Q2 will enable the bank to deliver a more robust and unified digital banking experience to their consumer and business account holders.
Through this collaboration, the bank leverages Q2’s digital banking platform to enable customers to make transactions anytime, anywhere, from any device. The bank will serve its consumer and business customers with Q2 products built to optimise the customer experience, such as Innovation Studio, Q2 Sentinel, ClickSWITCH, Positive Pay, and Centrix.
These products focus on the integration of third-party apps, customisation, fraud prevention and detection, real-time transaction monitoring, improved customer experience, and transaction risk management solutions for financial institutions.
Founded in 1901, Community Bank of Louisiana is primarily serving Northwest Louisiana’s rural areas.
Rural residents in the US are more likely to live in banking deserts, where the nearest bank is more than ten miles from the centre of the census tract. This means they have to travel farther to receive financial services.
People living in rural areas are more likely to visit physical bank branches because they cannot get the services they need online. This may be due to a lack of high-speed internet, cell service, or simply because the banks haven’t moved all of their services online.
Some challenges that banks face when trying to implement digital banking services for rural areas include lack of reliable internet connectivity, low digital literacy, unreliable power supply, security concerns, and regulatory difficulties.
However, opportunities for digital banking in these areas still exist, as this service can help improve financial inclusion for underserved communities and can help reduce costs associated with traditional banking services.
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