The companies have launched Cambr, which enables leading brands and
fintech companies to easily offer banking products and services
AUSTIN, Texas--(BUSINESS WIRE)--
Q2
Holdings, Inc. (NYSE:QTWO), a leading provider of experience-driven
digital banking solutions for community-focused financial institutions,
and StoneCastle Partners, LLC (“StoneCastle”), a leading provider of
innovative solutions to store, move and optimize money, today announced
their partnership.
Together, the companies have launched Cambr, which includes the
capabilities of Q2 Open’s digital cloud-based platform (CorePro) and
StoneCastle’s digital deposit network of more than 800 community banks
(StoneCastle Deposit Network). Cambr also includes strategic
relationships with partner financial institutions (FIs) that serve as
banks of record. Through Cambr, any company can now offer banking
products and services with full FDIC insurance on all deposits at scale
while routing those deposits to community banks – creating a mutually
beneficial partnership model for those entities.
Leading fintech companies and brands can now rapidly and seamlessly
offer deposit accounts, debit cards and other financial products and
services, expanding their customer relationships all under their brand
name. Cambr’s innovative structure delivers robust interest and
interchange revenue while providing security, scale, and stability.
“We’re proud to partner with Q2 on this exciting opportunity,” said Josh
Siegel, CEO of StoneCastle. “Through Cambr, innovative and respected
non-bank companies can easily deliver best-of-breed digital financial
products while redirecting deposits to community banks, the engine of
small business growth in America.”
“As new entrants continue to join the financial services race, it’s our
mission to find new and creative ways for FIs to play a critical role in
delivering these services,” said Matt Flake, CEO of Q2. “We’ve found the
right partner for this mission in StoneCastle. The sheer size and scope
of its deposit network combined with our CorePro platform gives every
company a better way to deliver financial services, while strengthening
community financial institutions.”
Leading brands and fintech companies that wish to offer deposit
accounts, debit cards and more can now do so at scale using Cambr. To
learn more, visit www.cambr.com.
About Q2 Holdings, Inc.
Q2 is a leading provider of secure, experience-driven digital banking
solutions headquartered in Austin, Texas. The company is driven by a
mission to build stronger communities by strengthening their financial
institutions. Q2 provides the industry’s most comprehensive digital
banking platform, enriched through actionable data insights, open
development tools and an evolving fintech ecosystem. It helps clients
elevate the experience, drive efficiency and grow faster. To learn more
about Q2, visit www.q2ebanking.com.
About StoneCastle Partners, LLC
StoneCastle and its affiliates are leading providers of insured cash
solutions for many of the world’s largest institutions and most
innovative companies. Our financial technology focuses on pioneering
solutions to store, move and optimize money by delivering scalable,
profitable and secure cash solutions for our clients and their users.
Through our proprietary end-to-end platform, we store and optimize those
deposits across our digitally linked network of FDIC-insured community
banks. For more information about StoneCastle, visit http://www.stonecastle.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180416005273/en/
Source: Q2 Holdings, Inc. and StoneCastle Partners, LLC