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viewChesapeake Financial Shares Inc.

Chesapeake Bank channels Q2 Holdings’ digital banking platform to enhance its customers' banking experience

The community bank is using best-in-class commercial banking technology to offer mobile-friendly, secure, easy-to-use technology to its business customers

Chesapeake Financial Shares Inc. - Chesapeake Bank channels Q2 Holdings’ digital banking platform to enhance the banking experience for its customers
Chesapeake Bank Chief Information Officer DJ Seeterlin said its customers expect "the same type of digital experience of their banking solutions that they have with Amazon, Netflix, and Google"

Chesapeake Financial Shares Inc (OTCQX:CPKF), which operates as the bank holding company for Chesapeake Bank, said on Thursday that the community bank has implemented Texas-based Q2 Holdings Inc’s (NYSE:QTWO) “best-in-class” commercial banking technology to improve the banking experiences for its business customers.

Founded in 1900, Chesapeake Bank is primarily a lender to small businesses. It is headquartered in Kilmarnock, Virginia and operates 15 community banks in the Northern Neck, Middle Peninsula, Williamsburg and Richmond region.

Chesapeake Bank, which is presiding on a digital transformation, said it treated its digital evaluation as “an opportunity” to hone its “go-to-market strategy,” focusing their digital investment dollars in the areas that are “most important” to the company’s growth. “Chesapeake’s biggest differentiator is localized, personal service, and we sought a digital platform that could help us deliver on that promise of service with a competitive digital user experience,” said the company.

READ: Chesapeake Bank provides faster payments to customers on the Real-Time Payments network

“Our customers expect the same type of digital experience of their banking solutions that they have with Amazon, Netflix, and Google. Providing a complete, mobile-friendly, easy-to-use digital banking experience is an important step for us,” said Chesapeake Bank Chief Information Officer DJ Seeterlin.

“Q2 worked as a team throughout the implementation process and became a true partner in our success – going above and beyond to ensure their approach is aligned with our strategy while collaborating with us to exceed our customers’ expectations.”

Seeterlin said the bank has the “infrastructure and processes in place” to adapt to the constant and evolving needs of its account holders.

Chesapeake Bank said it selected digital transformation solutions specialist Q2 Holdings because of its “comprehensive, secure, data-driven digital banking platform.” Q2 was recognized by the Aite Group for the third time as one of the top providers of US cash management technology.

“Chesapeake Bank is exactly the kind of bank we look to partner with as the world contemplates a new, digital-first normal,” said Will Furrer, who is the chief marketing and strategy officer at Q2 Holdings.

“They’re focused on positive community impact, committed to understanding their customers deeply and using investing in digital innovation to serve them. We jointly executed an on-time, on-budget implementation, and we look forward to driving further differentiation for the Chesapeake Bank brand through future digital transformation projects.”

Chesapeake Financial Shares is a one-bank holding company originally chartered in 1900 and based in Kilmarnock, Virginia. In addition to Chesapeake Bank, it operates another subsidiary called Chesapeake Wealth Management Inc, which is an independent wealth management firm offering brokerage, trust, and estate management services.

Contact the author Uttara Choudhury at uttara@proactiveinvestors.com

Follow her on Twitter: @UttaraProactive

Quick facts: Chesapeake Financial Shares Inc.

Price: 21.25 USD

OTCQX:CPKF
Market: OTCQX
Market Cap: $104.01 m
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Chesapeake Bank adopts Real-Time Payments network to provide faster payments...

Chesapeake Financial Shares Inc (OTCQX:CPKF) CEO Jeff Szyperski tells Proactive the community bank has joined the Real-Time Payments (RTP) network developed by The Clearing House. Szyperski says with the RTP network, Chesapeake Bank customers can now receive payments directly into their...

on 08/12/2020

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