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Cross River Bank, who is a major hub for the entire marketplace lending sector and works with more than 15 online lending companies, has entered the partnership with PeerIQ in an effort to streamline access by community banks and other loan buyers to the sector.
“Cross River is continuously investing in internal-facing technology that will enhance our ability to ensure strict regulatory compliance and adhere to consumer protection,” Geoffrey Kott, the head of finance and strategy at Cross River, said in the release. “PeerIQ’s risk management platform — with its leading loan-level analytics and monitoring capabilities, credit facility management toolkit, and full integration of TransUnion data — will both augment our internal capabilities and provide best-in-class loan-level monitoring tools for our clients and partners.”
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