Cross River Launches Global Payments Solution for SMBs & Fintechs

Cross River Bank, a leading technology infrastructure provider offering embedded financial solutions, has announced the launch of its International Payments platform, aimed at simplifying and accelerating cross-border transactions for fintechs and small to medium-sized businesses (SMBs). In partnership with Aion, a modern business finance platform, Cross River leverages its proprietary banking core, flexible API stack, and robust compliance infrastructure to streamline international payments through multiple rails, making global financial operations more accessible, secure, and efficient.

1. Market Momentum and Demand for Cross-Border Payments:

• The cross-border payments market is forecasted to grow to $320 trillion by 2032.
• As globalization accelerates, businesses increasingly require cost-effective and timely ways to send and receive international payments.
• Traditional banking systems have lagged in serving the needs of smaller enterprises and modern fintechs that demand more agile infrastructure.

2. Cross River’s Rail-Agnostic Technology Architecture:

• Cross River’s International Payments solution selects the most suitable payment rail based on transaction type, size, currency, and region.
• It supports SWIFT for global transfers and local bank rails for regional or domestic B2B and B2C needs.
• The result is enhanced flexibility, lower cost, and faster settlement compared to legacy systems.

3. Unlocking Use Cases for Fintechs and SMBs:

• Enables cross-border payments for small businesses, fintech platforms, and subsidiaries making intra-company transfers.
• Supports funding of operating accounts, international supplier payments, and payroll for global teams.
• Facilitates seamless customer experience without the overhead of managing international payment infrastructure.

4. Strategic Partnership with Aion:

• Aion, a fintech platform focused on simplifying business finances, is an early adopter of the International Payments platform.
• Previous collaborations included instant payments via RTP® and FedNow®, ACH, and Wires.
• Now, Cross River enables Aion’s customers to send international payments efficiently—expanding Aion’s end-to-end offering, including high-yield business accounts and streamlined banking solutions.

5. Enhancing Trust with Advanced Compliance and Monitoring:

• Built-in AML and CFT capabilities support secure, compliant operations at scale.
• Detailed subledger architecture and customer-level transaction tracking improve transparency and risk management.
• Businesses gain operational control and compliance confidence as they expand globally.

6. Vision for Borderless Finance:

• The launch marks Cross River’s entry into the global payments infrastructure space with a commitment to innovation and scalability.
• Future plans include expanding support to additional countries, currencies, and real-time settlement capabilities.
• Cross River is positioning itself as a go-to infrastructure provider for fintechs and businesses navigating international growth.

7. Industry Perspective on Accessibility and Equity:

• “SMBs are the backbone of the global economy, yet they’ve long faced high costs and delays,” said Satish Palvai, CEO of Aion. “Cross River’s International Payments levels the playing field for small and growing businesses.”
• By combining infrastructure with inclusive fintech innovation, Cross River empowers smaller players to compete globally.

Cross River Bank’s International Payments platform is a major step forward in enabling seamless, secure, and scalable cross-border transactions for the next generation of fintechs and small businesses. Its rail-agnostic approach, robust compliance tools, and strategic partnerships position it to become a cornerstone of the evolving global payments ecosystem. As demand for efficient international transactions continues to rise, Cross River is well-positioned to drive the future of borderless finance with agility, innovation, and trust.