StoneCastle and Q2 Announce Partnership
NEW YORK, April 16, 2018
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
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