FinWise Buys Tallied, Completing Its Card Tech Stack (FINW)

FinWise Bancorp (FINW) acquired Tallied Technologies, a credit card issuance and processing platform, the company said Friday. The deal fills the last gap in FinWise's card technology stack, letting it manage the full lifecycle – from application through underwriting, servicing, and processing – under one roof.

Terms were not disclosed.

FinWise had already built or bought the pieces for deposit accounts and debit cards. Tallied adds the credit card layer. The combined stack means FinWise keeps the interchange and servicing fees on card products it formerly passed to third-party partners for processing.

"This is the final piece of the puzzle for our card issuance platform," CEO Kent Landvatter said in the release. The bank now competes directly with larger card processors, though at a smaller scale.

FinWise's stock rose 2.1% in after-hours trading following the announcement. The bank has roughly $480 million in assets and issues cards through its Banking-as-a-Service partnerships with fintech clients.