Revolut, the open banking fintech, digital payments, and banking wallet, is ramping up its ambitions in the United States with a collaboration that claims to enable a wave of consumer lending for its US consumers, including credit and personal loans. The deal is with US fintech unicorn Cross River Bank, which was valued at $3 billion in a $620 million investment round earlier this month. Fast-growing fintech such as Affirm, Coinbase, and Stripe already use Cross River’s lending platform. Revolut said its US clients will soon be able to check their borrowing rates and request a loan using its app as part of its partnership with Cross River Bank.
US fintech unicorn Cross River Bank to power Revolut’s consumer loans – AltFi