Provided Life-Changing Access to Credit to Nearly One Hundred Million Customers and Facilitated Nearly One Billion Payment Transactions for Consumers When and Where Needed

Started in the Midst of 2008 Financial Crisis to Deliver Financial Resources to Those in Need with the Goal of Being a Different Type of Institution, Bent on Making a Difference

Cross River Bank (“Cross River”), a leading provider of technology infrastructure and embedded financial solutions, is proud to celebrate its 16th anniversary since its founding in June of 2008. Coming out of the 2008 financial crisis, Cross River has been at the forefront of driving innovation and underpinning the growth of the fintech industry and is known for its values-driven business model. Over the last 16 years, the Company has set the standard by providing both leading technology and deep banking expertise to break down barriers for individuals and communities through its responsible and innovative offerings, financial inclusion initiatives and notable Foundation@ giving arm.

“Cross River was born out of a commitment to provide financial resources to those in need, especially during the 2008 financial crisis when others were retreating. We have transformed the financial landscape, providing life-changing access to credit for nearly one hundred million customers and facilitating nearly one billion payment transactions. This achievement is a testament to the unwavering dedication of our extraordinary team and the invaluable support of our partners, friends, and communities,” said Gilles Gade, Founder and CEO of Cross River. “As we look to the future, we remain dedicated to our foundational values of responsibility, integrity, compassion, creativity, and humility. Our path forward is clear: to continue leading the way in developing innovative solutions, expanding our giving, and driving positive change.”

Since opening its doors, Cross River’s unwavering prioritization of financial inclusion and responsible access to financial services has positively impacted countless lives across the nation and around the world. Clients and partners leverage Cross River’s proprietary, real-time API-based banking core (COS), payment rails and technology infrastructure to provide access to credit and enable best in class lending, payments, banking and merchant acquiring services. Cross River’s products and clients are powering millions of businesses and consumers across the globe, daily.

Today, Cross River marks 16 years of exponential growth, giving and the transformation of financial services and reflects on its contributions pioneering the fintech space:

• Opened with $10MM in equity; today the Bank has $1BN in equity and $8BN in assets.
• Entered into its first technology relationship in 2010 and today has more than 120 and growing, delivering on optionality for businesses and consumers.
• Built the Cross River Operating System (COS), an industry leading, proprietary API-based banking core, from the ground-up, developed by in-house engineers and utilized by fintech clients to better serve their end users.
• Developed and scaled one of the broadest sets of banking and payments APIs in the industry for continued innovation, with 99.9% historical uptime and over 30x growth in API requests since 2019.
• Grew to become one of the largest originators of loans for marketplace lending platforms, with over $137BN in total originations and over 94MM loans originated since inception—nearly 100 million individuals provided with access to credit.
• Launched payments business in 2015 with a simple ACH platform and most recently, built one of the first singular API interoperability technology for instant payment networks, RTP^® & FedNow^® Service, giving consumers access to their funds when and where they need.
• Named a Top 4 originator of RTP^® since 2023 and the #1 processor of Same-Day ACH, for efficient, responsible and more instantaneous transactions.
• Committed to growing a fintech workforce promoting inclusion with employees in 35 states across the Country and over 160 developers in Israel.
• Unwavering dedication to responsible risk management and industry-leading compliance with 18x growth in risk and compliance positions since 2019.

Cross River’s forward-thinking approach enables it to rise to the occasion and answer the call time and again, swiftly adapting to fill gaps in the market, while never compromising on consumer protection. By leveraging technology and expertise, Cross River extended financial lifelines to almost 500,000 small businesses, many of whom were refused by other institutions, saving 1.4 million jobs nationwide during the pandemic. While expanding services pragmatically in business, Cross River also saw the need in the global community to scale its philanthropic outreach through Foundation@, to support even more nonprofit organizations and causes around the globe.

The Company is poised to continue leading the way in the development of innovative solutions with investments in infrastructure capabilities, cross border solutions and prepaid offerings. Driven by its foundational values—responsibility, integrity, compassion, creativity and humility, Cross River remains steadfast in its mission to drive positive change and chart infinite opportunities for a better tomorrow.

*Metrics as of Q1 2024

About Cross River

Cross River provides technology infrastructure powering the future of financial services. Leveraging its proprietary real-time banking core, Cross River delivers innovative and scalable embedded payments, cards, and lending solutions to millions of consumers and businesses. Cross River is backed by leading investors and serves the world’s most essential fintech and technology companies. Leading the industry, Cross River is reshaping global finance and financial inclusion. Member FDIC. Find out more at www.crossriver.com.

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