Through this partnership, Ibanera can benefit from Cross River’s API-driven platform and proprietary banking core, thus allowing for seamless integration and end-to-end automation to enable businesses of any size to accept ACH, wire and RTP account funding, payment distributions and payment collections.
Ibanera representatives cited by crowdfundinsider.com highlighted the combined capabilities of their two companies and their potential to create immediate market value through modern banking products that improve speed and lower the costs of commerce, permitting businesses to scale as necessary.
Cross River officials cited by the same source emphasised Ibanera’s ability to expand payment rails and use cases in order to enhance financial access and affordability for businesses around the world. Ibanera’s digital banking solutions help businesses and institutions to enhance the efficiency of their operations by improving onboarding and transacting speed while minimising costs when compared to traditional banking methods.
For instance, Ibanera has worked with ComplyAdvantage and Jumio to expand Know Your Customer (KYC) and Anti-Money Laundering (AML) compliance programs.
Cross River is a technology infrastructure provider for financial services. Leveraging its proprietary real-time banking core, the company helps deliver innovative and scalable embedded payments, cards, lending, and crypto solutions to both businesses and consumers, hoping to reshape global finance and financial inclusion. Cross River leverages its proprietary real-time banking core to offer innovative and scalable embedded payments, cards, lending and crypto solutions to consumers and businesses.
In October 2022, Cross River has partnered with American Express to issue credit cards on behalf of fintechs on the Amex network. Having added the American Express network, Cross River gives fintechs access to American Express benefits, alongside an improved experience when issuing with Cross River. The collaboration allowed fintechs to offer their partners and customers access to an extensive payment ecosystem.
In April 2022, Cross River has partnered with behaviour-based fraud and compliance platform for digital wallets and neobanks Sardine. The partnership’s purpose was to ensure Sardine’s customers have a reliable way to gain immediate access to funds through Cross River’s infrastructure platform.
According to financemagnates.com, Cross River also partnered with Chainalysis in March 2022, in order to leverage Chainalysis KYT (Know Your Transaction), as well as Chainalysis Reactor, the company’s investigations software, and Chainalysis Kryptos, the risk management software for financial institutions.
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