Cross River and Forward Bring Payouts-As-A-Service to Software Developers

Initiative expands embedded payment services to Software-as-a-Service providers, addressing core payment challenges

FORT LEE, N.J.--(BUSINESS WIRE)--Cross River Bank (“Cross River”), a technology infrastructure provider that offers embedded financial solutions, and Forward, a technology partner empowering Software-as-a-Service (SaaS) companies to integrate and monetize payments, are addressing some of the core payment challenges currently inhibiting the growth of SaaS providers through embedded payment offerings.

“We are proud to join forces with Forward to offer payouts-as-a-service, a solution that caters to the unique financial requirements of SaaS providers,” said Adam Goller, Head of Fintech Banking at Cross River. “This venture aligns with our commitment to driving safe and responsible innovation in the fintech space and supporting the growth of forward-thinking businesses.”

By providing embedded payments, such as same-day ACH payouts, for SaaS platforms, Cross River and Forward have created a robust ecosystem that addresses the evolving needs of the SaaS industry. This supports platforms in boosting revenue, improving customer experience and increasing product stickiness. The collaboration empowers SaaS providers, offering them a strategic advantage in an increasingly competitive landscape and leaving a lasting impact on the financial operations of the industry.

“At Forward, we’ve always believed in the power of payments to unlock new opportunities for SaaS providers," said Brandon Lloyd, CEO and Co-Founder of Forward. "Collaborating with Cross River allows us to offer an embedded payment solution that not only addresses the unique challenges of the SaaS industry but empowers these platforms to grow and innovate. This collaboration exemplifies our commitment to delivering cutting-edge financial technology that drives profitability and enhances the customer experience for software creators.”

The companies will facilitate the growth of SaaS platforms and in turn, expand the embedded payment landscape. Forward selected Cross River to support its embedded payments and payouts-as-a-service offering for the Company’s proprietary API technology and innovative approach that enables faster payouts than traditional institutions.

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.

About Forward

Forward is giving back to the software community with a payments offering we wish existed when we were operating vertical SaaS companies. We care about your success and want payments to help our partners make their core business more profitable. Our offering includes a payment facilitation software and services platform built by software creators for software creators. Payments expertise in program design, technical integration in less than a week, on-going merchant sales support, and the ability to migrate to a registered payment facilitator at any time.