Cross River, Momnt partner to enhance lending accessibility

Fort Lee-based Cross River Bank last week announced a new partnership with Momnt in an effort to make point-of-need loans more accessible in all 50 states.

Momnt is a Georgia-based fintech company that powers real-time lending and payment solutions for businesses at the point-of-need. Its technology connects lenders with borrowers through their merchant network in the home improvement and health care sectors. Under the agreement announced June 7, merchants on the platform are now able expand their loan offering capabilities to reach more consumers.

The two companies partnered earlier this year and have been working to bring Cross River’s API technology to Momnt’s platform, creating a streamlined process for borrowers in all 50 states and supporting the platform’s growth.

Through the new partnership, the companies say that Momnt can extend flexible and advantageous terms while providing a seamless and value-driven experience to consumers.

“We’re thrilled to partner with Cross River as we continue to expand the ways we serve our merchant and consumer customers,” said Chris Bracken, chief revenue officer, Momnt. “This partnership combines Momnt’s industry-leading moment-of-need lending capabilities with Cross River’s industry-leading financial services technology, and we could not be more excited about the opportunities the partnership will create.”

“We are proud to partner with game-changing innovators like Momnt, with their extensive industry knowledge, to provide expanded access to credit via convenient, flexible, point-of-sale loans,” said Greg Caminneci, head of client services, Marketplace Lending at Cross River. “Our partnership will allow Momnt to responsibly serve customers nationwide and we look forward to growing our offerings together.”

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