CRB Group, the parent company of Cross River Bank in Fort Lee, N.J., has agreed to buy customer loyalty fintech Accrue.
Cross River did not disclose the price it will pay.
“Payments and loyalty are becoming one,” Gilles Gade, Cross River’s founder and CEO, said in the press release. “Every brand wants its own wallet, and with Accrue, all of our clients can now build one on our platform. We never stop innovating, and we are excited to work with Michael Hershfield and his team to help our clients build the financial super apps of the future.”
Accrue’s team, including founder and CEO Michael Hershfield, will join Cross River.