California-headquartered Private Bank of the Peninsula has updated its electronic banking platform with Positive Pay, a client account system, produced by Texan firm Q2 Software.

The software consolidates client account data and will offer mobile and online banking to Peninsula’s customers.

“We offered cash management but we were not on par from a technology standpoint and appeared to be saying we were something we were not. Q2 helped us get to that last step," said Gina Stephens, senior vice president and senior operations manager at Peninsula.

According to Peninsula, the software will close a gap in the bank’s existing personal and commercial banking services. "We don't have the resources to develop a full suite of products; Q2 enables us to compete without blowing our budget,” added Ms Stephens.

The Private Bank of the Peninsula, a subsidiary of Peninsula Bank Holding Co. has an office in Palo Alto and has $271 million in assets.

Q2 Software is a privately-owned and customer-owned technology company enabling financial institutions with electronic banking software and services.