Cambr was created as a banking-as-a-service partnership between Q2 and Stonecastle but Q2 has decided to end this partnership; Q2 is a leading software firm for digital banking and it has its own core banking technology that powers Cambr will become Q2 powers onboarding, deposit processing, debit card, and payment solutions for clients like Acorns and Credit Karma; this will continue but under the Q2 BaaS brand; Jonathan Price, Q2’s SVP of Emerging Businesses said, “We see this as a moment where we’re signifying our commitment and belief in the BaaS opportunity. Nothing has fundamentally changed in the way we’re serving customers or the solutions we’re bringing.” Tearsheet
Peter Renton is the chairman and co-founder of LendIt Fintech, the world’s first and largest digital media and events company focused on fintech. Peter has been writing about fintech since 2010 and he is the author and creator of the Fintech One-on-One Podcast, the first and longest-running fintech interview series. Peter has been interviewed by the Wall Street Journal, Bloomberg, The New York Times, CNBC, CNN, Fortune, NPR, Fox Business News, the Financial Times, and dozens of other publications.