Revolutionizing Payments in SaaS: Cross River and Forward Unite
Transforming the SaaS Payment Ecosystem
Cross River Bank, a leading technology infrastructure provider known for its embedded financial solutions, has teamed up with Forward, a dynamic technology partner aimed at empowering Software-as-a-Service (SaaS) companies. Together, they are tackling some fundamental payment issues that restrict the growth potential of SaaS providers through their innovative embedded payment offerings.
Addressing Unique Financial Needs of SaaS Providers
Adam Goller, Head of Fintech Banking at Cross River, expressed pride in the collaboration with Forward, stating, "We are proud to join forces with Forward to offer payouts-as-a-service, a solution that caters to the unique financial requirements of SaaS providers." This partnership exemplifies their mutual commitment to fostering safe and responsible innovation within the financial technology realm while supporting the needs of forward-thinking businesses.
The Impact of Embedded Payments
By utilizing embedded payment capabilities like same-day ACH payouts for SaaS platforms, Cross River and Forward have established a solid ecosystem that adapts to the evolving demands of the SaaS industry. This strategic collaboration helps these platforms enhance revenue streams, enrich customer experiences, and fortify product retention rates. As a result, SaaS providers gain a competitive edge in a rapidly changing market, significantly influencing their financial operations.
Empowerment through Collaboration
Brandon Lloyd, CEO and Co-Founder of Forward, emphasized the importance of this partnership, stating, "At Forward, we’ve always believed in the power of payments to unlock new opportunities for SaaS providers. Collaborating with Cross River allows us to offer an embedded payment solution that not only addresses the unique challenges of the SaaS industry but empowers these platforms to grow and innovate." This statement underlines their dedication to delivering cutting-edge financial technology that increases profitability and provides an enhanced customer experience for software creators.
Meeting Market Challenges with Innovative Solutions
Taking on the expansion of the embedded payment landscape, the collaboration aims to ignite the growth trajectory of SaaS platforms. Forward specifically chosen Cross River to amplify its offerings in embedded payments and payouts-as-a-service, leveraging Cross River's expertise in API technology for accelerated payouts that surpass the capabilities of traditional financial institutions.
About Cross River
Cross River is at the forefront of technological innovation in financial services. Through its proprietary real-time banking infrastructure, the bank delivers a range of scalable embedded payment solutions, cards, and lending options designed to serve both consumers and businesses alike. Backed by prominent investors, Cross River is a crucial player for the world’s leading fintech and tech companies, championing the movement toward a more inclusive financial future. As a member of FDIC, more information can be found on their official website.
About Forward
Forward is dedicated to supporting the software community by providing a payments solution that reflects the needs of vertical SaaS companies. Their mission is to make payments a significant aspect of driving business profitability for their partners. Forward’s offering includes a comprehensive payment facilitation software and services platform meticulously crafted by software creators, for software creators. With expertise spanning program design and technical integration in under a week, they ensure ongoing merchant support and seamless transitions to registered payment facilitators whenever necessary.
Frequently Asked Questions
What is the primary goal of the Cross River and Forward partnership?
The partnership aims to provide innovative solutions, such as payouts-as-a-service, to address the unique payment challenges faced by SaaS providers.
How do embedded payments benefit SaaS platforms?
Embedded payments enhance revenue generation, improve customer experience, and increase product loyalty for SaaS platforms.
What unique offerings does Forward provide to the software community?
Forward offers a payments facilitation software platform designed to increase profitability for SaaS businesses through prompt technical integration and support.
Why is Cross River significant in the financial technology sector?
Cross River is recognized for its innovative, scalable financial solutions that empower a wide array of fintech companies and enhance financial inclusion globally.
How can businesses benefit from Cross River's and Forward's services?
Businesses can leverage the partnership's expertise to streamline their payment processes, optimize cash flow, and ultimately foster growth and innovation.
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