BRIEF-Finwise Bancorp Acquires Tallied Technology Platform, Bringing End-To-End Credit Card Issuing And Processing In-House

FinWise Bancorp

FinWise Bancorp

FINW

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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 - DEAL FUNDED WITH CASH ON HAND; NO MATERIAL IMPACT ON CAPITAL RATIOS EXPECTED

  • FINWISE BANCORP - 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 NEXT YEAR

  • FINWISE BANCORP - $50 MILLION OF CREDIT CARD BALANCES TO CONVERT TO STANDARD BALANCES ON BANK BALANCE SHEET

Source text: ID:nGNX5HgVh2

Further company coverage: FINW.O


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