Powering Fintech: October Edition
Cross River
Upcoming events
Money20/20 is just around the corner:
We can’t wait to be in Vegas this month. Meet our team and see what we're doing to be the leading one-stop-shop for fintech enablement, empowering leading tech companies, lenders, and financial institutions.
Thought Leadership
Top 10 takeaways from our webinar with Visa Direct
Our discussion with industry experts focused on the growing demand for faster cross-border payments, trends and challenges, and the importance of compliance for fintechs and other businesses. Don’t miss these 10 takeaways from our discussion.
FDIC Update
FDIC proposes new recordkeeping rules
The FDIC has proposed a new rule aimed at strengthening recordkeeping requirements for banks offering custodial accounts. The proposed rule requires banks to maintain more detailed records of beneficial owners and their account balances. This is intended to help protect consumers and ensure that their funds are safe and accessible.
Cross River’s proprietary Core Operating System (COS) platform already meets the requirements detailed in the FDIC's proposed rule by offering fully routable individual account subledgers and KYC/KYB tracking within FBOs. This feature allows fintechs to manage reconciliation and compliance effectively, future-proofing their programs from potential regulations.
Explore our subledger capabilities ->
The latest from Cross River
#1: International Payments is here!
We’re thrilled to announce our new International Payments service, designed to simplify and streamline cross-border transactions. From B2B fund transfers to paying operating accounts or facilitating subsidiary payments, our secure platform ensures compliance with industry standards, while also offering diverse payment options.
Access our API documentation to learn more ->
#2: Introducing Automated Sweeps to maximize insurance
We've partnered with IntraFi to now offer sweep services for deposits. This means that funds in excess of $250,000 will be automatically swept into a network of banks, giving you increased FDIC insurance up to $170 million per tax ID. Customers will always have access to their funds, and our partners will be able to provide information about where your funds are placed. This is a great way for customers to continue earning on deposits while still having access to their funds when they need it.
In the news
Cross River and Forward bring Payouts-as-a-Service to software developers
Cross River and Forward are addressing some of the core payment challenges currently inhibiting the growth of SaaS providers through embedded payment offerings.
Fundbox secures warehouse capacity from Cross River and Waterfall Asset Management
Fundbox announces a new credit facility with Cross River, a technology infrastructure provider that offers embedded financial solutions, and Waterfall Asset Management, a global alternative investment advisor.
Learn more
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