Cross River has agreed to buy Seed for an undisclosed amount to improve their on-boarding system; “The technology is very compelling,” Cross River Chairman and CEO Gilles Gade said in an interview with American Banker. “From a cultural standpoint and from a synergistic and strategic standpoint, it just made sense for us to join forces.”; on-boarding is a big issue, especially for smaller banks who have been looking to improve their processes; Seed’s founders will join the Cross River team to help them to develop new technology for operations, IT and AML compliance. Source.
