The $13.5 billion-asset company
said that Cross River Digital Ventures will also evaluate companies involved
with lending, payments and investing. The bank already serves as the regulated
financial institution for several fintechs.
“Cross River already
powers some of the largest companies in fintech and this new endeavor will help
us identify and make additional strategic investments,” Gilles Gade, the bank’s
chairman and CEO, said in a Thursday press release.
“Similar to Cross River, we
are looking for special companies that are trying to change the world through
innovation,” Gade added.
The division has
already invested in Innovative Assessments, a fintech that uses psychometrics
to personalize financial services and promote financial inclusion; Lev, a
technology-focused commercial real estate financing advisory firm; and Finix
Payments, a payments infrastructure provider.
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