AUSTIN, Texas--(BUSINESS WIRE)--
Q2
Holdings, Inc. (NYSE:QTWO), a leading provider of digital banking
solutions for financial institutions, announced today it has
successfully completed its acquisition of San Mateo, California-based
Cloud Lending, Inc., a SaaS company that provides an integrated
end-to-end lending and leasing platform to help lenders close more loans
and generate more revenue.
“The acquisition of Cloud Lending will enhance Q2’s ability to deliver
advanced digital solutions to financial institutions, alternative
finance and leasing companies that help them improve their customers’
borrowing experiences,” said Matt Flake, CEO of Q2. “Cloud Lending
increases lending efficiency through the digital channel to accelerate
one of our customers’ most important income streams.”
Cloud Lending’s products allow customers to maintain their current loan
workflows and risk scoring, but in a digital format. Cloud Lending will
benefit from Q2’s scale, infrastructure and resources.
Going forward, Cloud Lending will be branded as Cloud Lending, a Q2
Company. Q2 and Cloud Lending first announced the acquisition agreement
on Aug. 8, 2018.
About Q2 Holdings, Inc.
Q2 is a secure, cloud-based digital banking solutions company
headquartered in Austin, Texas. Since 2004, it has been our mission to
build stronger communities by strengthening their financial
institutions. Our digital banking solutions for deposits, money
movement, lending, leasing, security and fraud enable financial
institutions to deliver a better financial experience to their account
holders. Our bank and credit union customers, along with emerging
financial services providers, also benefit from actionable data
analytics and access to open technology tools. To learn more about Q2,
visit www.q2ebanking.com.
About Cloud Lending, Inc.
Cloud Lending is the next-generation, cloud-based lending and leasing
platform of choice for leading lenders. The end-to-end lending platform
simplifies the borrower experience, increases application volumes,
accelerates loan decisioning, and reduces operational inefficiencies
through digitization and automation. Offering solutions for consumer,
commercial, small business, construction and equipment leasing, Cloud
Lending’s proven platform solution means lenders can grow their loan
portfolio with one partner, eliminating costs and reducing middle and
back office operational churn. To learn more, visit Cloud Lending at https://www.cloudlendinginc.com.
Forward-looking Statements:
This press release contains forward-looking statements, including
statements about the ability of Cloud Lending’s products to integrate
with Q2’s solutions to enhance Q2’s abilities; the ability of Q2 to
advance its product offerings together with Cloud Lending; the ability
to cross-market Q2 and Cloud Lending’s products; and the potential for
Cloud Lending to benefit from Q2’s scale, infrastructure and resources.
The forward-looking statements contained in this press release are based
upon Q2’s current plans, estimates and expectations and are not a
representation that such plans, estimates or expectations will be
achieved. Forward-looking statements are subject to risks and
uncertainties that could cause actual performance or results to differ
materially from those expressed in or suggested by the forward-looking
statements. Factors that could cause or contribute to such differences
include, but are not limited to, the following: (a) risks related to our
ability to successfully integrate Cloud Lending and its technology and
personnel; (b) risks related to the execution of our plans, strategies
and forecasts, including with respect to our security, compliance, and
risk management capabilities and offerings; (c) risks related to the
demand for these offerings; (d) risks related to our expectations with
respect to the business of Cloud Lending after completion of the
transaction and our ability to realize additional opportunities for
growth and innovation; and (e) other risks and potential factors that
could affect our business and financial results identified in Q2’s
filings with the Securities and Exchange Commission. These filings are
available on the SEC Filings section of the Investor Relations section
of Q2’s website at http://investors.q2ebanking.com/.
These forward-looking statements represent Q2’s expectations as of the
date of this press release. Subsequent events may cause these
expectations to change, and Q2 disclaims any obligations to update or
alter these forward-looking statements in the future, whether as a
result of new information, future events or otherwise.
View source version on businesswire.com:
https://www.businesswire.com/news/home/20181016005184/en/
Red Fan Communications
Emma Chase, 512-551-9253
C: 512-917-4319
emma@redfancommunications.com
Source: Q2 Holdings, Inc.