Cloud Lending Solution is a cloud-based lending and leasing platform which reduces operational inefficiencies through digitisation and automation. Lenders can grow their loan portfolio with one partner, eliminating costs and reducing middle and back office operational churn.
Q2 is a provider of digital banking solutions for community-focused financial institutions. Their platform includes actionable data insights, open development tools, and an evolving fintech ecosystem.
By acquiring Cloud Lending Solutions, Q2 will be able to support regional financial institutions manage and grow their lending portfolios, their fundamental income-generating activity. By means of this partnership, lenders will provide greater access to credit for more people and businesses across the world.
The transaction has been approved by the boards of directors of both Q2 and Cloud Lending Solutions. Its closing is expected to occur in the fourth quarter 2018. Consummation of the proposed transaction is subject to customary closing conditions.
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