Cross River and Forward Partner to Revolutionize Embedded Payments for SaaS Firms

Cross River Bank has teamed up with Forward, an embedded payments company, to tackle payment challenges hindering the growth of Software-as-a-Service (SaaS) providers, according to PYMNTS. This collaboration aims to offer payouts-as-a-service solutions that cater to the unique financial needs of SaaS platforms.

“We are proud to join forces with Forward to offer payouts-as-service, a solution that caters to the unique financial requirements of SaaS providers,” said Adam Goller, head of FinTech banking at Cross River. He added that this venture supports the growth of innovative businesses while ensuring safe and responsible fintech practices.

Through the partnership, SaaS platforms will gain access to embedded payment features such as same-day ACH payouts. These offerings are expected to help boost revenue, enhance customer experiences, and strengthen product loyalty.

Forward selected Cross River for its advanced API technology, which enables faster payouts than traditional institutions. This partnership comes at a pivotal moment as embedded payments become a driving force in B2B commerce, improving efficiency and collaboration between trading partners.

Brandon Lloyd, founder and CEO of Forward, highlighted the growing demand for embedded payments, especially as many software companies struggle to fully realize their revenue potential from integrated payment systems. “We believe many software companies who have ‘integrated payments’ should be generating greater revenue from these products, and Forward is here to help them do that,” he said.

Forward recently secured $16 million in seed funding to meet the growing demand for embedded payments and integrate AI into its risk management functions.