Banking news roundup, June 16, 2023

Christopher Boswell/Christopher Boswell – stock.adob

Cross River Bank climbs up previous real-time payment deal standard

Cross River Bank, a banking-as-a-service company that makes loans through fintech loan providers, revealed today that it had actually managed more than one million real-time payments. The Fort Lee, New Jersey, bank was an early individual in The Clearing House’s RTP rail, which it signed up with 2 years after its launch in 2017. It has actually given that utilized an Application Programming Interface backed facilities to procedure over nine-and-a-half million deals in locations like healthcare, insurance coverage, sports wagering, wallet off-ramps, market and property. The bank stated it had actually checked $500 million in RTP volume in May alone.—Charles Gorrivan


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