FinWise Bancorp is a Utah-based bank holding company operating through FinWise Bank, with two core businesses: a Banking as a Service (BaaS) operation that partners with fintech platforms to originate loans, and a traditional banking business focused on SBA lending, commercial real estate, and equipment financing. The BaaS segment is the dominant earnings driver — FinWise partners with roughly 15 fintech platforms (including Upstart, LendingPoint, and OppLoans) that handle marketing and customer acquisition, while FinWise approves and originates the loans, then sells most of the balance to investors and earns origination and program fees on each sale. FinWise originated $6.1B in these "Strategic Program" loans in FY25. On the traditional banking side, SBA 7(a) loans are the primary product, sourced largely through Business Funding Group, a national referral network in which FinWise owns a 20% interest; FinWise originates these loans and sells the guaranteed portion at a premium in the secondary market, retaining servicing rights. A newer and growing product, the Credit Enhanced Program, allows FinWise to hold Strategic Program loans to maturity while the fintech partner absorbs credit losses via a cash reserve at FinWise — giving FinWise higher interest income with minimal net credit risk. FinWise is also building out a payments and card issuance platform, branded MoneyRails, which it hopes will deepen fintech partner relationships and generate lower-cost deposit funding over time.