From the Wires
StoneCastle and Q2 Announce Partnership
The companies have launched Cambr, which enables leading brands and fintech companies to easily offer banking products and services
By: PR Newswire
Apr. 16, 2018 09:30 AM
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
About Q2 Holdings, Inc.
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SOURCE StoneCastle Partners, LLC
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