Q2 Holdings, Inc. Completes Acquisition of Cloud Lending, Inc.
Summary
AUSTIN, Texas--( BUSINESS WIRE )-- Q2 Holdings, Inc. (NYSE:QTWO), a leading provider of digital banking solutions for financial institutions, announced today it has successfully completed its acquisition of San Mateo, California-based Cloud Lending, Inc., a SaaS company that provides an integrated end-to-end lending and leasing platform to help lenders close more loans and generate more revenue.“The acquisition of Cloud Lending will enhance Q2’s ability to deliver advanced digital solutions to financial institutions, alternative finance and leasing companies that help them improve their customers’ borrowing experiences,” said Matt Flake, CEO of Q2.Cloud Lending’s products allow customers to maintain their current loan workflows and risk scoring, but in a digital format.Our bank and credit union customers, along with emerging financial services providers, also benefit from actionable data analytics and access to open technology tools.The end-to-end lending platform simplifies the borrower experience, increases application volumes, accelerates loan decisioning, and reduces operational inefficiencies through digitization and automation.
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