Cross River buys Accrue to expand embedded finance offer

Cross River, an $8.5 billion-asset bank, plans to acquire Accrue’s branded-wallet platform, stored value and technology, according to the bank. Cross River said the move would allow it to offer partners a complete embedded finance stack.

This deal matters for regulated-industry leaders as it signals a shift towards integrated loyalty and payment solutions. Banks and insurers may see new partnership models and technology integrations emerge from such acquisitions.