Under the Coalition for Financial Ecosystem Standards framework, CrossCheck is authorized to conduct independent assessments that help fintechs demonstrate compliance maturity, supporting efficient due diligence and onboarding for bank partners and investors.
CrossCheck today announced it has completed program requirements to become the inaugural Qualified Assessor Firm by the Coalition for Financial Ecosystem Standards (CFES). CrossCheck is now certified to conduct independent assessments and grant certifications under its Standardized Assessment for Risk Management and Compliance (STARC) framework.
CrossCheck will conduct independent third-party assessments of fintech risk management and compliance programs, enabling companies to benchmark their practices against the CFES STARC framework and demonstrate institutional-grade readiness. Designed to streamline bank due diligence, investor evaluation, and partnership onboarding, STARC certification provides a standardized validation of a fintech’s compliance maturity. The assessment includes a comprehensive review of policies, procedures, documentation, and risk controls, along with structured maturity scoring, gap analysis, and mitigation planning. Upon completion, certified fintechs receive a detailed report that can be shared with bank partners and stakeholders.
CFES is an industry-led coalition that sets operating standards to promote safety and soundness in financial services. The coalition is supported by industry leaders spanning fintechs, banks, and industry associations with members that include Airwallex, Bluevine, Fairplay, FIS, Marqeta, Mercury, and Upstart, alongside a Bank Advisory Committee featuring Coastal Community Bank, FinWise Bank, First Bank & Trust, Pathward, and Thread Bank, as well as an Advisory Board that includes the American Fintech Council and Independent Community Bankers of America. Collectively, these organizations contribute to developing standardized benchmarks that streamline due diligence, align risk management practices, and strengthen trust across the financial ecosystem.
“Our designation as the inaugural Qualified Assessor Firm builds on our deep experience guiding fintechs and banks through evolving compliance and risk challenges. We’re excited to partner with CFES and contribute our expertise to its assessment process,” said Jim Jorgensen, president and CEO of CrossCheck. “STARC provides a shared, forward-looking framework for banks and fintechs to align expectations, strengthen partnerships, and support a more resilient financial ecosystem.”
“CrossCheck’s extensive experience and respected track record supporting fintechs and bank partners made the firm a clear fit for CFES’ Qualified Assessor Program,” said Sima Gandhi, co-founder of CFES. “Their leadership will be instrumental in ensuring STARC certifications deliver meaningful, trusted validation while advancing CFES’ goal of creating consistent, industry-led standards for risk management and compliance in bank-nonbank partnerships.”
As STARC adoption expands, CrossCheck will work with fintechs pursuing certification and with banks and investors seeking a consistent, independent benchmark for evaluating partnership readiness. The designation positions CrossCheck to help operationalize CFES standards, supporting streamlined due diligence, clearer alignment of compliance expectations, and stronger bank-fintech relationships.
For more information or to initiate an assessment, contact Monika McCarthy at mmccarthy@crosscheckcompliance.com or 310-621-2210.
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About the Coalition for Financial Ecosystem Standards
The Coalition for Financial Ecosystem Standards is a member-led coalition whose mission is to empower policymakers and industry innovators to drive sound growth in financial services. In partnership with FS Vector, CFES develops audit-ready standards for risk management and compliance in bank-nonbank partnerships. CFES also focuses on frameworks and guidance that address the critical gaps in financial services resulting from where technological progress outpaces historical guidance. For more information about CFES and its initiatives, please visit thecfes.com.
