Cross River Bank says it has surpassed 1 million real-time payments transactions and over $500 million in real-time payments volume in the month of May.
Gilles Gade, CEO of Cross River, said the accomplishment represented their embrace of new technologies and delivering Fintech solutions to their customers.
“This achievement underscores our dedication to embracing emerging technologies and delivering innovative banking solutions that empower our customers, said “Our ability to seamlessly process a significant volume of real-time payments demonstrates the strength of our infrastructure and the expertise of our team.”
Cross River notes that it was an early participant in the network built by The Clearing House, which allows customers to send and receive funds instantly, 24/7, 365.
Cross River’s API-based banking core and regulatory and compliance framework have helped to establish the bank as a leader in the Fintech ecosystem.
Cross River added that it will also be participating in the FedNow program later this year. This is a US government effort to update the payments ecosystem to provide for instantaneous transfers.
Cross River is a top service provider in the Fintech ecosystem