AQ2 Technologies
Mitigates Enterprise-wide Risk

A certified law enforcement instructor and an active martial arts enthusiast, J Skip Hall, the COO of AQ2 Technologies often preaches that an efficient way of coming out of a ruthless mixed martial arts game unscratched is to understand that “risk cannot be prevented—it can only be mitigated”. The wise words applies to financial institutions as well since risk often involves the entire enterprise and not just a department or single function of the institution, and one should therefore look for the kind of guard that would not only pause but eliminate the threat.

AQ2 Technologies, headquartered in Birmingham, AL, is a provider of software solutions for payment, remittance, and risk mitigation. RiskXP software system, the flagship product of the company, minimizes and wherever possible, eliminates suspicious fraudulent transactions before being presented to the core system. RiskXP is a multiple source, enterprise-wide risk mitigation system offering full transaction mitigation to all sizes of financial institutions. The system is time-efficient as it takes less than half a day to install and is a same-day solution which means that as soon as RiskXP receives a transaction that is suspicious and if a rule is violated, that transaction is detected, investigated, reported and its disposition is enforced up to and including quarantining the transactions until released by the appropriate personnel at the institution.

AQ2 distinguishes itself from its competitors by crafting RiskXP in a way that is configurable to fit the personality of the financial institution’s risk aversion. It enables client to set rules that can be applied at the levels and to the group of its customers as defined by the institution. Specifically, a legacy customer with a long history with the institution or a new customer without history can have completely different risk tolerance levels and AQ2’s solution is available to be applied at a transaction source type level all the way to a customer and customer’s account levels.

With RiskXP, AQ2 is able to address the needs of the smaller institutions as well as credit unions and other similar type financial institutions.

“We base our foundation on the key strategy that resources expended to mitigate risk should be less than the consequence of inaction, and the gain should exceed the pain, and therefore we continually create value in the risk mitigation solution,” says Hall. The company provides a simple, affordable systematic and structured process through the RiskXP software that explicitly addresses uncertainty and avoids incorrect assumptions.

Reflecting its presence among impressive clients are names like Cachet Financial Solutions, Iberia Bank, and SouthPoint Bank. Cachet Financial Solutions, a provider of services to the financial industry, extends RiskXP in the form of a software-as-a-service subscription to its clients and uniquely uses the system to mitigate and manage risk that is possible in the time-sensitive mobile and smartphone transactions.

Working continuously to develop and grow its business in payment and remittance products and professional services, AQ2 is planning to expand its product offerings in the RiskXP and other adjunct product areas. “We will have several new product announcements coming in the near future that will validate our commitment to these product segments in the financial as well as other market segments that we are currently in, such as in the Utility industry, Government, Gift and Donations organizations, Higher Education Alumni Foundations and other specificniche segments in banking, such as property management,”confirmed Hall.