Cross River, a bank that delivers advanced financial and compliance products/services to the fintech industry, announced on Thursday it has plans to enhance its real-time payments capabilities for its partners through its application to join the RTP network developed by The Clearing House (TCH).
Cross River reported that with the RTP network it will provide the ability for its fintech and commercial banking clients to seamlessly send, clear and settle payments instantaneously with advanced messaging capabilities while maintaining a strong focus on compliance. While sharing more details, Gilles Gade, Founder, President and CEO of Cross River, stated:
“Since inception, Cross River has been an early adopter of new technology to provide our partners with the latest, most innovative tools to align with their needs. As one of the first community banks to join the existing banks on The Clearing House’s RTP network, and as a leading technology company, Cross River is delivering cutting-edge products and enhanced functionality to our partners.”
Steve Ledford, Senior Vice President of Product Strategy and Development at The Clearing House, went on to add:
“The Clearing House is excited to partner with Cross River and to work with them to bring real-time payments to their customers. The RTP network is designed to be implemented by all depository institutions, allowing great banks like Cross River to provide new levels of speed and efficiency in transactions that will significantly benefit their customers.”