FinWise acquires Tallied Technology, completing its credit card stack

FinWise Bancorp announced today that it has acquired the technology platform and related assets of Tallied Technologies Inc. The acquisition completes FinWise's credit card stack from application through issuing, processing and servicing. Jim Noone, CEO of FinWise Bancorp, said the acquisition is the logical next step in the technology roadmap the company has been executing for several years. FinWise expects integration and transition costs of approximately $4.0 million over the next year. The transaction was funded with cash on hand and is not expected to have a material impact on the Company's capital ratios.