Momnt partners with Cross River Bank

Thursday 8 June 2023 13:31 CET | News

US-based financial services provider Momnt has partnered with embedded financial solutions provider Cross River Bank.


Following this partnership, Momnt’s customers will gain the ability to expand their loan offering capabilities and reach more consumers. Specifically, banking-as-a-service (BaaS) provider Momnt plans to extend flexible and advantageous terms to consumers while supporting a value-driven experience. The company previously worked with Cross River and managed to integrate Cross River’s API technology into its platform in an effort to support growth and streamline the lending experience for borrowers in the US. 

Momnt specialises in connecting lenders with borrowers through a merchant network in the home improvement and healthcare industry. By partnering with Cross River and leveraging its API-based platform, Momnt’s network will be able to provide real-time loan offers to individual borrowers at the point of making a purchase. With this approach, demand for the merchant is improved while the consumer benefits from creative, well-structured financing. In addition, the system has the potential to generate new revenue sources for financial institutions. 

In the company press release, Momnt representatives highlighted their commitment to expanding the ways they serve their merchant and consumer customers. They also talked about their partnership with Cross River and emphasised the way it blended Momnt’s moment-of-need lending capabilities with the latter’s financial services technology to create new lending opportunities.


US-based financial services provider Momnt has partnered with embedded financial solutions provider Cross River Bank.


Other important developments from Cross River 

Cross River is a strong advocate for regulatory modernisation so as to create clear guidelines and standards within the fintech industry without compromising access to safe, sound, compliant, and affordable financial services. 

In March 2023, Cross River collaborated with Compliance-as-a-Service (CaaS) infrastructure provider FinClusive to advance access to financial services. The partnership between the two entities is in line with a shared mission to provide financially underserved communities and organisations with safe, reliable and compliant access to account and payment services. 

According to the official press release, FinClusive’s CaaS application and digital gateway embeds compliance-backed identity credentials into network transactions and help enable secure onboarding on new clients together with continuous validation and verification downstream. 

Through this collaboration, Cross River aimed to support increased payment capabilities and connectivity to the US banking system together with community access, while FinClusive agreed to help ensure the necessary consumer and business protection for preserving the integrity of the financial system. 

In February 2023, Sweden-based fintech Trustly has partnered with Cross River and online gaming operator PointsBet to provide players with Instant Payouts across the US. In partnership with Cross River, Trustly’s technology platform will allow PointsBet to provide players with instant withdrawals of winnings into their bank accounts wherever sports betting is available.

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Keywords: partnership, lending, embedded finance, financial services
Categories: Banking & Fintech
Companies: Cross River Bank, Momnt
Countries: United States
This article is part of category

Banking & Fintech

Cross River Bank



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