Cross River

💳 We’re expanding our card program capabilities with our new in-house card processing engine, giving our partners a unified, end-to-end solution. Integrated directly into our banking core, processing delivers: ✅ Customizable spend analytics, real-time spend controls, and global mapping ✅ API-driven settlement, reconciliation, and failure analysis tools ✅ Full lifecycle card management with instant virtual card creation With our processing engine, partners like Aion gain additional optionality, flexibility, faster time to market, and card experiences tailored to their customers. Learn more: https://lnkd.in/ej8sVHK8 #CardProcessing #FintechInnovation #CardPrograms

Excited to be involved at the start of Tempo to help inform blockchain infrastructure purpose-built for payments.

We just released our Q3 Consumer Lending Review, written by Cole Gottlieb, covering consumer lender earnings and trends in MPL new issue volume: ⤵⤵⤵ ➡ In the third quarter, lenders reported robust YoY growth in originations across products (BNPL, cash advances, higher-APR (36%+ APR) loans, personal loans) ➡ Personal lenders continued to grow originations, with Upstart +80.4%, SoFi +56.9%, LendingClub +37.1%, Oportun +6.6%, and OneMain +4.8% from a year prior ➡ BNPL growth marched on, with Sezzle +58.7%, Affirm +41.6%, Zip +38.7%, and Klarna +23.0% all reporting double-digit YoY growth in volumes ➡ Consumers looking for a way to bridge the gap between paychecks have increasingly turned to earned wage access and short-term cash advance products, with originations up +18.8% YoY at Brigit and +13.0% YoY at Dave ➡ Higher-APR lenders OppFi and Enova (Consumer) reported +12.5% and +3.6% YoY increases in originations, respectively ➡ In Q3, new issue volume for the consumer unsecured MPL market leapt +63.0% higher on a YoY basis, but was (11.0)% lower on a QoQ basis (per Finsight Group Inc (FINSIGHT) data) #fintech #consumerlending #consumercredit

Congratulations to Cross River Bank Commercial Lending & SBA Loans for this landmark achievement. We’re incredibly proud of the team for this accomplishment in securitization.

Catch up on this week's Cross River IQ newsletter. Here are the highlights: ⤵⤵⤵ ➡ Private Sector Payroll Drops by 32,000 ➡ Former CFPB Director Lands New Gig ➡ Nevis Raises $35MM Series A ➡ Wealthfront Prices IPO ➡ PayJoy Lands $140MM Debt Facility ➡ Rain Acquires Fern ➡ Stripe Buys Usage-Based Billing Platform #consumerlending #fintech #baas

Today on International Volunteer Day, we’re celebrating the incredible volunteers, including our team members, who dedicate their time to making a difference in their communities. Thank you to all the volunteers who give back, locally and globally. 🌎 Here at Cross River, we do well because we do good. 💙 #doMOREgood

The future of digital assets is here. Don’t miss our Head of Crypto, Luca Cosentino, next week at the American Banker Virtual Summit, where he will join Cuy Sheffield, Head of Crypto at Visa, and moderator Neil C., Financial Markets Economist at Fireblocks, where they will explore what it takes to bring tokenized assets into the core of banking operations and preparing for the next wave of digital asset innovation. Learn more: https://lnkd.in/ewcecDK9

Our warehouse facility partnership with Fundbox continues to deliver strong results in the SMB market! Our Head of Capital Solutions, Noah Cooper, said it best—we’re proud to support fintech innovators who are driving financial inclusion and impact for small businesses. Read the full American Banker article here: https://lnkd.in/gNw8-Ty2

🏈 Game on: We’re excited to expand our partnership with Aeropay to launch Request for Payment (RfP), bringing instant consumer pay-ins to businesses through the RTP network. With RfP, Splash Inc. will be able to power instant pay-ins, setting a new standard for gaming payments. We’re proud to be the financial institution enabling RfP origination and settlement—helping move funds instantly and securely, 24/7/365. Learn more: https://lnkd.in/eyCd9Npm #RequestForPayment #RfP #Gaming 

Check out our Head of Crypto, Luca Cosentino, on the new episode of Tokenized Podcast – he sat down to dig deeper into the infrastructure we built for stablecoin payments and today's biggest digital finance trends.