Business View Magazine | Volume 8, Issue 12

76 BUSINESS VIEW MAGAZINE VOLUME 8, ISSUE 12 AT A GLANCE CROSS RIVER BANK WHAT: A financial services leader combining the expertise of a bank with the innovation of a technology company WHERE: Based in Fort Lee, New Jersey WEBSITE: www.crossriver.com cross river B A N K “ B A N K I N G U N T A N G L E D ” I t’s true that many community banks in the U.S. are having a tough time. With a record number of closings, the individuals and small businesses that relied on the financial services that these institutions offered are often being forced to use less reliable lending channels, from pawn shops to pay-day loans. But not all banks are turning away from their smaller customers. Cross River, a community bank and fintech leader headquartered in Fort Lee, New Jersey, continues to put its local people and their business first, providing them with financing options that are safe, fair, affordable, and transparent. “Cross River is built upon a relatively simple premise,” Phil Goldfeder, the organization’s Senior Vice President for Global Public Affairs, tells Business View magazine. “We merge the trust and reliability of a community bank with the innovative offerings of a technology company.” In practice, this means that Cross River stands at the intersection for technology firms looking to provide financial services. “If you were to go online and take out a loan using a company like Rocket Loans, on the surface you’d be going to a technology company but, in reality, Cross River is the entity that is providing the financial services,” Goldfeder explains. “Cross River is the bank actually making that loan.” What makes Cross River unique is the pace at which it is able to innovate. This is primarily due