FinWise Bancorp Announces Agreement with Albert Corporation to Offer Millions of Americans Transparent, Affordable and Convenient Short-term Personal Loans

Core Insights - FinWise Bancorp has entered into a strategic program agreement with fintech company Albert to provide customers with short-term lines of credit, enhancing financial accessibility and transparency [1][2][3] Company Overview - FinWise Bancorp is the parent company of FinWise Bank, focusing on banking and payments solutions for fintech brands, leveraging a scalable API-driven infrastructure [4] - Albert is a financial technology company that offers a suite of financial management tools, including personal financial assistance, checking and savings accounts, loans, and investment accounts [4] Partnership Details - The partnership aims to combine FinWise's banking capabilities with Albert's financial technology to deliver innovative financial products that benefit consumers [3] - Both companies share a vision of transforming the banking experience and improving financial decision-making for consumers [3] Strategic Goals - The collaboration is expected to enhance Albert's growth opportunities by providing regulatory expertise and a multi-product platform that includes lending, deposits, and payments [3][4] - FinWise's existing Strategic Program Lending business will support the partnership by addressing challenges in funding diversification and capital efficiency for fintech brands [4]