Sensibill’s award-winning AI-powered platform captures SKU-level spend data to unlock insights that can help financial institutions and fintechs better serve their account holders
Q2 Holdings, Inc. (NYSE:QTWO), a leading provider of digital transformation solutions for banking and lending, today announced its acquisition of Sensibill, a privately held company founded in 2013 and headquartered in Toronto, Canada. Sensibill’s machine learning platform enables financial institutions to capture and categorize granular spending details in order to better understand and serve their small business and consumer account holders throughout their financial journey.
“Delivering differentiated and personalized experiences through the digital channel is a top priority,” said Kirk Coleman, chief banking officer of Q2. “Sensibill’s solution enables financial institutions to better understand the spending behaviors of their account holders, positioning them to deliver tailored products and services, drive loyalty and increase engagement. Everyone at Q2 is excited to welcome the talented Sensibill team.”
Sensibill enables small and medium-sized businesses to automate and streamline expense management, which can help financial institutions increase engagement with this critical customer base. This acquisition complements the capabilities of Q2 Catalyst, Q2’s end-to-end commercial banking suite designed to help financial institutions win, onboard, serve, and grow business client relationships. In addition, the acquisition of Sensibill bolsters Q2’s comprehensive data strategy to deliver actionable insights that help financial institutions operate their business, secure their customers, personalize experiences, and drive deeper engagement. Sensibill will enrich Q2’s data portfolio with granular SKU-level data and enhance the potential of Q2’s machine learning capabilities.
“We are excited to join the Q2 team to make financial wellness more attainable for all,” said Corey Gross, co-founder and CEO of Sensibill. “Q2 is a recognized leader in digital banking and lending and, by joining forces, we will empower more financial institutions and fintechs with greater insights into their account holders’ spending habits, helping them manage their businesses better and supporting their financial wellbeing.”
Financial terms of the transaction, which was closed on October 3, 2022, were not disclosed.
INFOR Financial Group served as exclusive financial advisor to Sensibill Inc.
For more information about Q2, visit www.Q2.com.
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