NEW YORK, April 16, 2018 /PRNewswire/ -- StoneCastle
Partners, LLC ("StoneCastle"), a leading provider of innovative
solutions to store, move and optimize money, and Q2 Holdings, Inc.
(NYSE: QTWO), a leading provider of experience-driven digital
banking solutions, 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 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.
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.
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SOURCE StoneCastle Partners, LLC