AcquisitionsJul 20, 2026, 04:23 PM
FinWise Acquires Tallied Tech Platform, Bringing Card Issuing In-House
AI Summary
FinWise Bancorp announced the acquisition of Tallied Technologies, Inc.'s platform, bringing its credit card issuing and processing capabilities in-house. This strategic move is expected to expand revenue capture by retaining fees and interest economics previously shared with a third-party. The transaction was funded with cash on hand, with an estimated $4.0 million in integration and transition costs over the next year. As a result, approximately $50 million in credit card balances will convert to the Bank's balance sheet, and the company's prior guidance for credit-enhanced balances no longer applies.
Key Highlights
- FinWise Bancorp acquired the technology platform and assets of Tallied Technologies, Inc.
- The acquisition brings end-to-end credit card issuing and processing in-house.
- Transaction was funded with cash on hand, with minimal capital outlay.
- Expected integration and transition costs of approximately $4.0 million over the next year.
- Approximately $50 million of credit card balances will convert to standard balances on the Bank's balance sheet.
- Prior guidance of $217 million in credit-enhanced balances by end of 2026 no longer applies.
- Tallied's engineering and operations team has joined FinWise.
Price Impact
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