VoPay Partners with Cross River Bank to Accelerate Expansion into US Market

A Vancouver-based provider of embedded financial technology solutions this week announced a partnership with fellow fintech Cross River Bank.

VoPay will work with Cross River on its expansion into the U.S. market, the company stated, forming a “landmark alliance.”

“Joining forces with Cross River marks a transformative moment for VoPay,” believes Hamed Arbabi, chief executive of VoPay.

Citing the firm’s “profound expertise” in U.S. financial regulations, Arbabi says Cross River will plays a “pivotal role” in equipping VoPay with access to the U.S. banking and payment network infrastructure.

“Cross River’s advanced technological framework and deep regulatory expertise are invaluable as we endeavour to meet the evolving needs of our customers in today’s fast-paced financial landscape,” the CEO stated.

As a result, the collaboration will “dramatically increase” VoPay’s market reach in the U.S., according to a statement from the fintech.

“This alliance not only accelerates our expansion into the U.S. market but also aligns perfectly with our vision to deliver state-of-the-art technology enabling innovative financial solutions,” Arbabi stated.

“Cross River’s relationship with VoPay stems from a shared commitment to transforming the fintech landscape through responsible and reliable innovation,” added Keith Vander Leest, who functions as Head of Payments at Cross River.

“By leveraging proprietary API technology,” Vander Leest continued, “our collaboration ensures transparency to the underlying user for transaction monitoring while allowing for seamless and efficient transactions, empowering businesses with secure money movement in today’s regulatory environment.”

Last month, VoPay unveiled a state-of-the-art Artificial Intelligence Lab that could reshape the industry landscape through advancements in predictive analytics, robotic process automation, and managed services.

Armed with AI tools and a team of experts, the lab will “spearhead the development of novel solutions aimed at predicting market trends, automating critical financial processes, and delivering comprehensive managed services to clients.”

Founded in 2015, VoPay continues to innovate its product offerings, as highlighted by the recent launch of an Instant Bank Account Verification solution.

The company has also collaborated with other Canadian fintechs, including an integration with Parvis Invest.