Cross River Bank, a technology infrastructure provider that offers embedded financial solutions, has announced the expansion of its card program capabilities with the launch of its proprietary, in-house card processing engine. This development positions Cross River as one of the few financial institutions with complete ownership of the card technology stack, from issuing to processing.
Aion Financial Technologies has been selected as the pilot partner for this initiative, integrating Cross River’s technology to support its checking account, payments, and debit card program. The processing engine provides partners with bank-grade compliance, real-time fraud monitoring, and customizable fraud rules. Additional features include real-time transaction monitoring with global mapping, customizable spend analytics for user behavior, API-driven settlement and reconciliation, and failure analysis tools for rapid issue resolution. The new processing capabilities have been tested by both Mastercard and Visa.
Andrew Lambert, Head of Product at Cross River, stated, “Our in-house processing is a full-stack integration, offering a seamless way to launch debit, credit, and prepaid card programs. It enables our partners to scale with one unified solution. Our partners have the flexibility to design card experiences around their customers — with instant virtual card creation, spend controls that update in real-time, actionable intelligence, and full lifecycle management.”
Developed internally, Cross River’s processing enhances client flexibility with a unified, end-to-end solution. It strengthens the Company’s current offerings by enabling companies to scale, manage, and customize their payments ecosystem, whether fully through Cross River or in coordination with existing processors.
Lynn Chen, Head of Fintech Solutions at Cross River, commented, “Cross River has always stood at the intersection of banking and technology, and this innovation is a natural extension of that mission. By integrating card processing directly into our banking core, we’re giving our clients additional optionality to own the payments experience, all while being supported by compliance capabilities and security they expect from a regulated bank. Through our processing, we’re delivering the infrastructure they need to scale with confidence.”
Aion’s participation as the pilot partner demonstrates how integrating processing directly within the bank relationship can reduce costs and complexity. Clients like Aion will gain the ability to tailor the payments journey to their unique customer needs and guide their product roadmap, benefiting from institutional trust and regulatory expertise.
Satish Palvai, Founder and CEO at Aion, noted, “Cross River’s card processing engine enables Aion to deliver rich, dynamic card programs for businesses on our platform, giving them greater control over corporate spending while simplifying management and tracking. This enhancement will significantly streamline their day-to-day workflows.”
The introduction of Cross River’s in-house processing extends its leadership in embedded finance infrastructure, combining banking, compliance, and processing within a single platform. This development aims to help clients scale confidently by providing infrastructure that meets current needs and is scalable for future growth, reinforcing Cross River’s role as an innovator in the financial ecosystem.
