FinWise Bancorp acquires Tallied credit card issuing, processing platform assets

FinWise Bancorp acquired Tallied’s credit card issuing and processing technology platform, bringing its card technology stack in-house end to end.

The transaction was funded with cash on hand and is not expected to materially affect capital ratios.

Integration and transition costs are projected at about $4 million over the next year, front-loaded into the next two quarters.

Roughly $50 million of credit card balances will shift to standard on-balance-sheet receivables, moving full economics and credit exposure to the bank.

Prior guidance for about $217 million in credit-enhanced balances by end-2026 was withdrawn due to the structural change.