Cross River is a financial services organization that uniquely combines the traditional expertise of a bank with the innovative offerings of a technology company. The company operates primarily in the financial technology (FinTech) sector, providing a range of banking services through its advanced, API-driven platform known as the Cross River Operating System. This platform allows other FinTech companies to easily integrate and access various banking services, which are customizable and secure.

Cross River serves a diverse clientele, including small businesses, FinTech companies, and marketplace lending platforms. During the COVID-19 pandemic, Cross River played a crucial role in distributing aid, helping over 100,000 small businesses secure Paycheck Protection Program (PPP) loans. This demonstrates the company's commitment to supporting small enterprises and its capability to handle large-scale financial operations efficiently.

The company's business model revolves around providing "Banking as a Platform" (BaaP). This means that instead of just offering traditional banking services, Cross River provides the infrastructure that other financial technology companies can use to build their own financial products. This includes payment solutions like ACH (Automated Clearing House), wire transfers, card disbursements, and money transfers, all facilitated through APIs (Application Programming Interfaces). APIs are tools that allow different software systems to communicate with each other, making it easier for businesses to integrate Cross River's services into their own platforms.

Cross River makes money by charging fees for the use of its banking platform and services. This includes transaction fees, service fees for loan origination, and fees for compliance and risk management services. The company places a strong emphasis on compliance, ensuring that all its operations meet regulatory standards through rigorous risk assessments, diligence, testing, monitoring, and oversight.

In summary, Cross River is a forward-thinking financial services provider that leverages technology to offer a wide range of banking services, primarily to FinTech companies and small businesses.

Keywords: FinTech, API-driven, Banking Platform, Small Businesses, Compliance, Payment Solutions, Loan Origination, Customizable Services, Secure Banking, Financial Innovation.