Cross River integrates Plaid’s instant payouts on its API-based core

Rick Steves

“By combining the strengths of our proprietary banking core and advanced API technology with Plaid’s expertise in financial technology tools, millions of Plaid customers will have access to their money when and where they need it.”


Cross River Bank has expanded its partnership with Plaid to deliver multi-rail payment solutions to U.S. businesses and their customers.

The embedded financial solutions provider enhanced its partnership with Plaid’s data network to become the first financial institution to support Plaid’s real-time solutions.

Cross River’s proprietary, API-based core creates a direct, efficient, and streamlined connection to multiple payment networks – ACH, RTP, and soon the FedNowSM Service.

Instant Payouts via Plaid Transfer, powered by Cross River

The first real-time offering from the partnership between Cross River and Plaid was Instant Payouts on Plaid Transfer, a real-time, multi-rail payout solution to send and settle funds instantly.

Plaid Transfer manages bank-linked transfers and payments, allowing businesses to obtain payment authorization, analyze risk, and move money – all within a single API. It also provides intelligence on instant payout eligibility. If an account is not eligible for instant payouts, companies can seamlessly route the transaction to ACH without surfacing complexity to their customers.

Instant Payouts via Plaid Transfer, powered by Cross River, is said to be a game-changing technology that benefits businesses and verticals such as personal lending, marketplaces, insurance, brokerages, and digital investment platforms.

Plaid’s real-time payments on top of Cross River’s API-based processing core

Adam Goller, Head of Fintech Banking at Cross River, said: “Expanding our relationship with Plaid to power their real-time offerings is a significant milestone in our commitment to driving financial innovation and ensuring faster, secure, and seamless payment experiences. By combining the strengths of our proprietary banking core and advanced API technology with Plaid’s expertise in financial technology tools, millions of Plaid customers will have access to their money when and where they need it.”

John Anderson, Head of Payments at Plaid, commented: “Real-time payments can deliver significant efficiency and cost benefits to businesses and help them deliver amazing new experiences for consumers by delivering money when and where they need it. We are excited to expand our relationship with Cross River to deliver innovative real-time payment solutions on top of its API-based processing core.”

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