Q2 and StoneCastle Announce Partnership
16 April 2018 - 3:30PM
Business Wire
The companies have launched Cambr, which
enables leading brands and fintech companies to easily offer
banking products and services
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/
For Q2,Emma Chase, 512-551-9253C:
512-917-4319emma@redfancommunications.comorStoneCastle Partners,
LLCFrank V. Bonanno, 347-887-0345fbonanno@stonecastle.com
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