Fort Lee-based Cross River announced Wednesday a partnership with Ibanera, a global banking and payments company, to power its digital banking platform and payments capabilities.
Ibanera’s partnership with Cross River provides seamless integration and end-to-end automation so businesses of any size can accept automated clearing house, or ACH; wire; and real-time payment, or RTP, account funding, as well as payment distributions and payment collections. These services provide businesses with the payment options necessary for scalability and pave the way for future collaborations between the organizations.
“We are excited to partner with Cross River to provide businesses and payment companies with the tools and (application programming interfaces) in this fast-evolving market,” Ibanera CEO Michael Carbonara said.
“The combined capabilities of our companies create immediate market value as modern banking products enhance the speed and lower the costs of commerce, allowing businesses to scale as necessary.”
About Cross River
Cross River provides technology infrastructure powering the future of financial services. Leveraging its proprietary real-time banking core, Cross River delivers innovative and scalable embedded payments, cards, lending and crypto solutions to millions of consumers and businesses.
Keith Vander Leest, head of payments at Cross River, said the fintech power is thrilled to support Ibanera’s platform and its efforts to improve financial access and affordability for businesses worldwide.
“With the ability to expand payment rails and use cases, Ibanera provides businesses with the optionality and scalability necessary for our nonstop and ever-evolving world,” he said.
Ibanera’s robust set of digital banking solutions allows institutions and the businesses they serve to operate more efficiently by increasing speed of onboarding and transacting while lowering cost when compared to traditional methods.
Cross River is known for its leading technology infrastructure and strong focus on regulatory compliance and consumer protection.
