Finwise Bancorp Acquires Tallied Technology Platform, Bringing End-To-End Credit Card Issuing And Processing In-House
FINW•Finwise acquires Tallied platform and brings card processing in-house
July 20 (Reuters) - Finwise Bancorp FINW.O:
- Finwise Bancorp acquires Tallied technology platform, bringing end-to-end credit card issuing and processing in-house.
- Finwise Bancorp said the deal was funded with cash on hand; no material impact on capital ratios is expected.
- Finwise Bancorp said prior guidance of $217 million in credit-enhanced balances by end 2026 no longer applies.
- Finwise Bancorp expects integration and transition costs of $4 million over the next year.
- Finwise Bancorp said $50 million of credit card balances will convert to standard balances on the bank balance sheet.
