Cross River to Acquire Accrue, Expanding Embedded Finance and Digital Wallet Capabilities
What's happening
CRB Group, parent of Cross River Bank, has agreed to acquire Accrue, a fintech that provides branded wallet, stored value and loyalty rewards technology for merchants. Cross River says the deal will combine its regulated banking infrastructure with Accrue's front-end wallet and loyalty platform so consumers can store money, receive rewards and make purchases via merchant apps and websites. The transaction amount was not disclosed and remains subject to customary closing conditions. Cross River is also integrating Ripple's RLUSD stablecoin into its operating system as it expands embedded finance and digital wallet capabilities.
Why it's trending
This is rising because Cross River is consolidating wallet, payments and loyalty tech at a moment when banks and fintechs are racing to own embedded payments and stored-value customer experiences.
Signal2.7× its usual volume, confirmed across 1 independent source type.
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If you run a retail app, Cross River buying Accrue means you can get a bank, a branded wallet and loyalty tech under one roof, no separate integrations for stored value and rewards anymore.
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Original sources9
- Cross River to acquire Accrue for branded walletsThe PaypersOct 21
- Cross River Acquires Accrue to Bring Loyalty to Payments
The parent company of Cross River Bank, CRB Group, has agreed to acquire customer loyalty provider Accrue. While Cross River did not disclose the acquisition amount, the bank did express that the purchase will help it continue to expand its embedded finance offerings. The transaction is subject to customary closing conditions. Founded in 2021, Accrue Read more... The post Cross River Acquires Accr
FinovateOct 20 - Cross River to buy loyalty platform Accrue
Cross River Bank (“Cross River”), a leading technology infrastructure platform powering embedded financial solutions serving as the trust anchor for global banking and money movement, today announced that its parent company (CRB Group, Inc.) has entered into an agreement to acquire Accrue, a fintech company powering modern customer loyalty at the payment layer.
FinextraOct 20
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