Cross River Bank, an infrastructure provider that offers embedded financial solutions, announced a new collaboration with American Express that “allows Cross River to issue credit cards on behalf of fintechs on the American Express network.”
Gilles Gade, Founder, President and CEO of Cross River, said:
“Collaborating with American Express enables Cross River to provide additional optionality for our partners and their consumers. Our expanded payments and technology infrastructure increases efficiency and the scalability that our partners have come to expect.”
The addition of the American Express network “provides fintechs with access to select American Express benefits, along with enhanced value and a seamless experience when issuing with Cross River.”
Adam Goller, EVP and Head of FinTech Banking, remarked:
“We’re thrilled to add the American Express network to our comprehensive suite of payment services. This collaboration allows us to offer our partners and their customers access to a broader payment ecosystem and expanded optionality backed by Cross River’s compliant infrastructure. The brand strength of the American Express network within the fintech landscape is already strong and we look forward to building on that by pairing it with Cross River’s own brand.”
William Stredwick, Senior Vice President and General Manager, Global Network Services North America, American Express, commented:
“With Cross River, we can offer more ways for fintechs to launch payment solutions on the American Express network. We selected Cross River for their full suite of products and services, and we look forward to working with them to help fintechs innovate on our network.”
Cross River’s comprehensive, one-stop-shop platform “provides access to international payment rails, core infrastructure and a robust compliance framework.”
Its API-driven technology and banking solutions are both “customized and streamlined, giving partners the flexibility to manage costs, efficiency and latency as it relates to their operations.”
In turn, partners can better “integrate advanced payment solutions into their own environments for more rapid innovation.”