Cross River Bank has partnered with super app Revolut to expand Revolut’s business in the US leveraging Cross River’s technology and regulatory infrastructure.
The partnership will open the first US-based consumer personal loans for Revolut customers thanks to Cross River’s technology infrastructure, with additional credit offerings slated to launch in the coming months.
“At Cross River, we’re always looking for new and innovative ways to provide access to credit,” said Adam Goller, EVP, Head of Fintech Banking at Cross River.
“Our partnership with Revolut is instrumental in facilitating responsible financial solutions to consumers, and we’re excited to be powering Revolut’s U.S. expansion.”
“At Revolut, we’re building the world’s first global financial superapp so the move into credit and personal loans is a natural next step. Revolut has developed technology to provide loans instantly to approved customers, with no origination fees – so customers can get the credit they need, when they need it,” said Tarun Bhushan, Revolut U.S. Head of Lending.
“We’re thrilled to partner with Cross River to offer U.S. consumers an even more diverse range of financial services with the launch of our intuitive and hassle-free personal loan product.”
Revolut wants to further bolster its global financial superapp in the U.S. with additional credit offerings.
As Revolut continues to play an important part in the financial industry, Cross River is an innovator in powering secure financial and technological solutions for partners to provide more affordable access to credit and for consumers to manage their funds.