NEW YORK, April 24, 2018 /PRNewswire/ -- StoneCastle
Partners, LLC ("StoneCastle"), and Q2 Holdings, Inc. (NYSE: QTWO),
today announced a long-term deal with MoneyLion, Inc., the
financial operating system revolutionizing the way middle-class
Americans save, invest and build their credit.
MoneyLion will utilize Cambr to offer their recently announced
deposit accounts and debit cards, expanding customer relationships
and creating new monetization opportunities via robust interest and
interchange revenues.
"Historically only the wealthiest investors have had access to
technology-driven tools to serve their financial needs, leaving a
vast majority of Americans without the ability to take control of
their finances," said MoneyLion CEO and co-founder,
Dee Choubey. "Most of our
two-million-plus customers use our service on a daily basis to
save, borrow and invest. We look forward to working with
StoneCastle and Q2 and their Cambr product to help drive the
next generation of what financial services should look, feel and
even think like."
Cambr seamlessly integrates StoneCastle's deposit platform of
more than 800 community banks (StoneCastle Deposit Network), Q2
Open's digital processing platform (CorePro), and strategic
relationships with partner financial institutions (FIs) that serve
as banks of record. Through Cambr, non-bank companies—like
MoneyLion—can offer banking products to their customers at scale
while distributing their deposits to FDIC insured community
banks.
"MoneyLion shares our commitment to easily connecting Americans
with the financial products and services they need," said
Josh Siegel, CEO of StoneCastle. "By
leveraging the Cambr program, MoneyLion can deliver an exceptional
and robust financial experience to its customers while directing
deposits to community banks."
To learn more about Cambr, 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. We are
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. We help clients elevate the experience,
drive efficiency and grow faster. To learn more about Q2,
visit www.q2ebanking.com.
About MoneyLion
MoneyLion's mission is to
empower anyone with a smartphone to reach their financial goals
with banking that works as hard as they do. Since our founding in
2013, MoneyLion has served over two million customers with
hassle-free saving, guided investing, low-cost borrowing, and the
only rewards program for building better financial habits.
MoneyLion uses artificial intelligence and machine learning to
supercharge its users' finances with uniquely personalized advice
and alerts, all from a single beautiful mobile app. MoneyLion is
headquartered in New York City,
with offices in San Francisco,
Salt Lake City and Kuala Lumpur, Malaysia. For more information,
visit www.moneylion.com or download the app here.
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SOURCE StoneCastle Partners, LLC