Cross River partners with SeedFi to fuel increased economic inclusion
By Pavithra R
Cross River Bank, an American state-chartered commercial banking corporation has announced that it is powering SeedFi’s new Credit Builder and Borrow & Grow Plans through its banking and technology platform, as well as providing debt financing through its Strategic Direct Lending Group.
“This natural partnership will help Americans reach and realize their potential, as they both build and gain access to credit while saving for the future. We are accelerating economic inclusion and empowering the next generation by utilizing our latest proprietary financial technology, a robust set of APIs and capital markets expertise, all under one roof,” said Gilles Gade, Founder, President and CEO of Cross River.
Together Cross River and SeedFi are providing transparent and affordable financial products that help individuals in underserved communities build credit, increase savings and access money when they need it. Cross River delivers the banking services to support these offerings, including savings accounts, ACH payment services and loan origination.
“Cross River fully supports and believes in SeedFi’s mission to help Americans break the cycle of debt and realize their financial potential. The partnership will allow us to more efficiently deliver an exceptional suite of financial products to our customers,” said Jim McGinley, co-founder and CEO of SeedFi.
Additionally, Cross River has provided a $50mn debt facility, which enables SeedFi to deliver more efficient access to credit for its consumers. The bank’s mission is to enable greater access to credit through a full suite of banking services, and is focused on strategic, multi-pronged partnerships that extend beyond financing.
IBSi Daily News Analysis
June 06, 2023
Despite better banking oversight, fraud remains a real threat to the futureRead More
IBSi FinTech Journal
- Most trusted FinTech journal since 1991
- Digital monthly issue
- 60+ pages of research, analysis, interviews, opinions, and rankings
- Global coverage