Cross River Bank, a technology infrastructure provider for embedded financial solutions, has introduced its new Advanced Authorization model, designed to integrate partners into real-time transaction approval paths under specific conditions. This launch follows a significant milestone for the bank, which has processed more than one billion payment transactions across its platform and partner network.
Advanced Authorization enables partners to actively participate in transaction decisions for card network authorizations within Cross River’s card issuing programs. This empowers fintechs to implement customized transaction logic and rules within an approved framework, leveraging Cross River’s banking rails and compliance infrastructure.
The introduction of Advanced Authorization follows Cross River’s processing of over one billion payment transactions for its partners and platform, highlighting the increasing demand for flexible money movement across diverse fintech use cases. Adam Goller, Head of Fintech Banking at Cross River, noted, “As we cross 1 billion payment transactions, we’re proud to have helped individuals around the world pay for essentials, support families, and invest in their futures. While being integral in so many transactions, we have seen the need for faster transaction processing and quick detection of transactions that need additional review.”
Goller added, “Advanced Authorization is our response to these needs. This internal workflow within our payment offerings can leverage these insights, and route approvals and authorizations more efficiently, giving our partners the speed and control they need over the transaction flow without compromising regulatory integrity.” With this model, funds maintained for customers at Cross River are available for card spend without requiring separate wallet funding and withdrawals, helping operators avoid costs associated with ACH or RTP transfers in and out of customer accounts.
This development represents an evolution in embedded finance, facilitating dynamic transaction experiences and offering fintechs authorization control after the bank’s screening processes. Advanced Authorization is designed for applications requiring rapid decisions, flexible wallet structures, and multi-balance architectures, such as gaming platforms, travel services, loyalty and rewards programs, and businesses that need real-time control over various balance types. The solution aims to reduce improper transaction declines and eliminate the friction of manual wallet fund transfers, potentially supporting faster innovation cycles for fintech partners.
For consumers, Advanced Authorization intends to provide a more intuitive and seamless experience, whether they are redeeming loyalty points, utilizing reward credits, or combining multiple balances for a single transaction. It is designed to mitigate repeated funding and withdrawal cycles, enhancing flexibility in how funds are accessed and applied across different contexts. Andrew Lambert, Cross River’s VP of Product, BaaS and Cards, commented, “Advanced Authorization is a foundational shift in how fintech partners can interact with our infrastructure. By giving our partners real-time control while keeping them inside our banking framework’s high compliance standards, we’re unlocking entirely new possibilities.”
The solution further reinforces Cross River’s position in real-time payments innovation. The bank recently launched Request for Payment (RfP) and is among a limited number of banks to have enabled this capability. With Advanced Authorization now live, RfP in the market, and over one billion payments processed, Cross River continues to expand its financial infrastructure, aiming to accelerate the evolution of embedded finance and support future fintech experiences.
Cross River provides technology infrastructure to power financial services, leveraging its proprietary real-time banking core. It offers embedded payments, cards, lending, and crypto solutions to consumers and businesses. The company is backed by investors and serves fintech and technology companies, working to reshape global finance and financial inclusion as a Member FDIC institution.
