Cross River, FinClusive to offer more solutions for the financially underserved

Fort Lee-based Cross River Bank announced a partnership March 30 with FinClusive to provide account and payment services to advance secure and compliant access to the financially underserved.

Cross River Bank, a technology infrastructure provider that offers embedded financial solutions, has advocated for regulatory modernization that would create clear guidelines and standards in the fintech industry without compromising accessibility to safe, sound, compliant and affordable financial services. FinClusive, a global Compliance-as-a-Service (CaaS) infrastructure provider for financial services, has comprehensive technology that enables fintechs to grow in a responsible manner.

With this partnership, Cross River will provide enhanced payment capabilities, connectivity to the U.S. banking system and community access, while FinClusive will ensure necessary consumer and business protections inherent to preserving financial system integrity.

This partnership builds on a previous collaboration between the two earlier this year to bring expanded payment optionality to FinClusive’s platform.

Cross River says the move is part of a focus on partners who share a forward-looking and streamlined compliance approach that will ultimately strengthen the broader fintech ecosystem.

“Regulatory compliance, responsibility and transparency are central to Cross River, and we continue to expand our partnerships with technology leaders focused on increasing financial access,” said Gilles Gade, founder, president and CEO of Cross River, in a press release. “Both Cross River and FinClusive share fundamental and a compliance-driven approach.”

“In an uncertain industry environment – with ongoing challenges impacting both traditional and alternative financial service providers – this partnership is another example of our unwavering commitment to accountability and responsible governance within the financial system,” said Amit Sharma, CEO of FinClusive. “Our partnership provides local communities with much-needed, reliable access to comprehensive compliance capabilities and demonstrates our shared commitment to innovation and compliance in tandem.”