Technology infrastructure provider Cross River Bank has expanded its card programme by introducing an in-house card processing engine.

Ownership of Card Technology Stack

Cross River Bank now joins financial institutions that own the entire card technology stack, encompassing card issuance and processing.

The launch aims to offer more flexible options for partners while ensuring bank-grade security and accelerating time to market. This move also strengthens Cross River’s position in Embedded Finance by integrating banking, compliance, and processing into a single platform.

Pilot Partnership with Aion

Cross River selected Aion Financial Technologies as its pilot partner, focusing on the fintech company’s checking account, payments, and debit card programme. This integration simplifies costs and streamlines complexity by embedding processing within their banking relationship.

With Cross River’s technology, Aion and other clients can personalize payment experiences based on customer needs, benefiting from institutional trust and regulatory expertise concurrently.

Upcoming Features

Cross River’s processing capabilities include compliance and real-time fraud monitoring, customizable fraud rules, real-time transaction monitoring with global mapping, spend analytics for behavior identification, API-powered settlement and reconciliation, and failure analysis tools to facilitate efficient issue resolution. These features have also been tested by Mastercard and Visa.

This solution enhances client flexibility through a unified approach while optimizing the current portfolio, enabling companies to expand, manage, and tailor their payment ecosystems either wholly with Cross River or in collaboration with existing processors.