Case Study: Upgrade expands beyond installment lending with Cross River's API-powered rewards checking

Upgrade moves beyond its flagship product with the help of Cross River’s APIs

Upgrade, a provider of affordable financial products, sought to expand its offerings beyond its flagship installment loan product to meet evolving consumer demands. The company partnered with Cross River, leveraging its marketplace lending APIs and banking core, to explore the launch of new products while maintaining its compliance-first approach.

The solution was the introduction of the Upgrade Reward Accounts, powered by Cross River's API-based core. Cross River provided FDIC-insured checking and savings accounts, along with a debit card that offers cash-back rewards. A key measurable result is that qualifying customers who open these accounts receive up to a 20% lower rate on their loans. By leveraging Cross River's integrated banking services, Upgrade was able to seamlessly grow and deliver these expanded offerings.

Upgrade