[Kilmarnock, VA, February 10, 2022] Chesapeake Bank is happy to announce the release of a new product — the Digital Debit Card. The Digital Debit Card allows consumers to create virtual cards within online and mobile banking for use in online purchases, and it can be loaded into their mobile wallet. The Digital Debit Card is not an off-the-shelf product; rather, it is the culmination of development work between Chesapeake Bank with Trabian, Q2, and Jack Henry.
Chesapeake Bank recognized the need for its consumers to have immediate access to debit cards, either following an account opening or replacement of a card. The Digital Debit Card solution also allows for customers to have multiple cards that can be independently turned on and off, offering an added layer of account security.
“This product launch demonstrates our ability to innovate and offer unique solutions to meet our customers’ needs,” said D.J. Seeterlin, Chesapeake Bank’s Chief Innovation Strategy Officer. “We could not have done this without the flexible technology stack and relationships with our partners at Trabian, Q2 and Jack Henry.”
“Investments in our technology and our team have enabled us to be nimble and build new products from idea to launch in a matter of months,” said Seeterlin. “By leading the innovation in this payment space, through an agreement with Trabian, this technology can now be implemented for other banks as well.”
Software development firm Trabian was instrumental in this partnership, as they were able to create application to connect Chesapeake Bank’s online customer-facing application and website-based interfaces.
“We at Trabian are thrilled to be a part of the launch of the Digital Debit Card, the result of our successful partnership with Chesapeake Bank,” said Matt Dean, CEO of Trabian. “Using the robust Q2 SDK, we were able to seamlessly integrate multiple systems and deliver a solution that can help other community banks gain wallet share in a highly competitive marketplace for deposits.”
Q2, which provides the app environment for Chesapeake Bank customers, also played a role in the development of the Digital Debit Card.
“We’re excited to see Chesapeake Bank’s Digital Debit Card come to life to serve its customers with quick access to digital debit cards,” said Jonathan Price, EVP of Emerging Businesses, Corporate and Business Development at Q2.
“For financial institutions, innovation has become table stakes when providing products to customers,” said Price. “The Q2 SDK and our Q2 Innovation Studio are helping financial institutions meet the evolving expectations of account holders by innovating faster and delivering differentiated offerings quickly.”
And finally, thanks to the collaboration with Jack Henry, whose software powers Chesapeake Bank’s internal systems, customers will be able to use the digital debit card seamlessly.
“We’re happy to offer an accessible platform that regional and community financial institutions can build on to meet their needs,” said Ben Metz, Chief Digital and Technology Officer for Jack Henry. “Our continued investment in an open architecture gives financial institutions the ability to innovate faster, compete successfully, and differentiate themselves from their competitors.”
More information on Chesapeake Bank’s Digital Debit Card product is available at www.chesbank.com/digitaldebitcard. Seeterlin is scheduled to appear at the ABA Conference for Community Bankers in Orlando on February 12-14, where he will discuss the Digital Debit Card and the collaboration which led to its creation as an example of banks’ ability to innovate.
ABOUT CHESAPEAKE BANK
Chesapeake Bank, founded in 1900, is a subsidiary of Chesapeake Financials Shares (CFS: CPKF), headquartered in the Northern Neck, also serving Richmond, Williamsburg, the Middle Peninsula, and Chesterfield regions. The company also offers credit processing and ABL financing. Named by American Banker as one of the Top 200 Community Banks and a Best Bank to Work For, employing 270. Visit: Chesbank.com.
Founded in 2003, Trabian builds digital products and integrations, web and mobile applications and websites for forward-thinking community banks, credit unions, digital banks and Fintechs. In pursuing its mission to create technology to accelerate community finance, Trabian has created technology solutions for nearly 20 years that have been instrumental to the success of many of today’s leading financial institutions. Trabian is an affiliate of MVB Bank, Inc. For more information, visit www.trabian.com.
ABOUT Q2 HOLDINGS, INC.
Q2 is a financial experience company dedicated to providing digital banking and lending solutions to banks, credit unions, alternative finance, and fintech companies in the U.S. and internationally. With comprehensive end-to-end solution sets, Q2 enables its partners to provide cohesive, secure, data-driven experiences to every account holder – from consumers to small businesses and corporate. Headquartered in Austin, Texas, Q2 has offices worldwide and is publicly traded on the NYSE under the stock symbol QTWO. To learn more, please visit Q2.com.
Visit here to learn more about how these financial institutions and fintech companies developed their innovation through Q2 Innovation Studio.
ABOUT JACK HENRY & ASSOCIATES, INC.
Jack Henry (Nasdaq: JKHY) is a well-rounded financial technology company that strengthens connections between financial institutions and the people and businesses they serve. We are an S&P 500 company that prioritizes openness, collaboration, and user centricity – offering banks and credit unions a vibrant ecosystem of internally developed modern capabilities as well as the ability to integrate with leading fintechs. For more than 45 years, Jack Henry has provided technology solutions to enable clients to innovate faster, strategically differentiate, and successfully compete while serving the evolving needs of their accountholders. We empower approximately 8,000 clients with people-inspired innovation, personal service, and insight-driven solutions that help reduce the barriers to financial health. Additional information is available at www.jackhenry.com.