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
