Mergers & Acquisitions ·
FinWise Bancorp completed the acquisition of Tallied Technologies, Inc., a credit card issuance and processing platform
FINWFinwise Bancorp
FinWise Bancorp completed the acquisition of Tallied Technologies, Inc., a credit card issuance and processing platform. The transaction, funded with cash on hand, allows the company to own its card technology stack end-to-end and retain fees, interchange, and interest economics previously shared with a third-party manager. Approximately $50 million of credit card balances will convert from credit-enhanced to standard balances held on the Bank's balance sheet. FinWise expects total integration and transition costs of approximately $4.0 million over the next year. Due to the change in balance structure, the company's prior guidance of $217 million in credit-enhanced balances by year-end 2026 is no longer applicable. FinWise Bancorp is a financial services company providing banking and payments solutions to fintech brands.