FinWise Bancorp Announces BIN Sponsorship Agreement with Vera, Inc. to Launch Unsecured Consumer Credit Card Program for Prime and Near‑Prime U.S Consumers
MURRAY, Utah, April 14, 2026 (GLOBE NEWSWIRE) -- FinWise Bancorp (NASDAQ:FINW) ("FinWise" or the "Company"), parent company of FinWise Bank (the "Bank"), today announced a strategic program agreement with Vera, Inc. ("Vera") to launch an unsecured consumer credit card program targeting prime and near‑prime U.S consumers. Vera is an early-stage company led by a seasoned management team, including CEO Sandeep Sachdeva, who has more than 18 years of leadership experience at Capital One, building and scaling card businesses.
Under the program, Vera will serve as Program Manager and purchase receivables from FinWise Bank, which will act as the BIN Sponsor. The program will issue unsecured consumer credit cards, offered as both physical and digital cards. Vera's program empowers customers to select from three rewards modes aligned to their individual spending patterns, with no annual fee, delivering a differentiated value proposition in the near prime and prime segment. The relationship originated through Zeta, card processor, with whom FinWise continues to expand its partnership. Vera's card ecosystem is built on Tachyon, Zeta's cloud native, API-first issuer processing platform.
Sarah Grotta, Chief Fintech Officer of FinWise, commented, "We are pleased that Vera selected FinWise as a strategic partner to support its growing business. The Vera launch enables FinWise to further expand its BIN sponsorship capabilities alongside Vera's experienced management team and Zeta as card processor, delivering innovative financial products to consumers through Vera's state‑of‑the‑art mobile app."
"We're excited to partner with FinWise Bank, whose deep expertise in BIN sponsorship and commitment to disciplined program execution make them an ideal partner for Vera. FinWise's collaborative approach, strong regulatory foundation, and experience supporting innovative fintech programs give us confidence as we bring a modern, credit card experience to consumers through our platform." said Sandeep Sachdeva, Vera CEO & Co-Founder.
About Vera
Vera Inc. is a financial technology company focused on building modern, customer‑first credit products for the near prime and prime consumers. Founded in 2025 and headquartered in Ashburn, Virginia, Vera is designed for consumers who have established their credit foundation and are ready for greater flexibility, transparency, and control.
Vera's credit card products combine meaningful rewards, real‑time controls, and top‑tier security with an intuitive digital experience, enabling customers to manage spending and use credit on their terms.
The founding team brings decades of experience from leading U.S. card issuers and fintech platforms, with a track record of building credit products used by tens of millions of consumers. Vera's mission is to make credit simpler, smarter, and more intuitive, delivering an elevated experience that works for the customer, not the other way around.
About FinWise
FinWise provides Banking and Payments solutions to fintech brands. Its existing Strategic Program Lending business, conducted through scalable API-driven infrastructure, powers deposit, lending and payments programs for leading fintech brands.
As part of Strategic Program Lending, FinWise also provides a Credit Enhanced Balance Sheet Program, which addresses the challenges that lending and card programs face diversifying their funding sources and managing capital efficiency.
In addition, FinWise manages other Lending programs such as SBA 7(a), Owner Occupied Commercial Real Estate, and Leasing, which provide flexibility for disciplined balance sheet growth. The Company is also expanding and diversifying its business model by incorporating Payments (MoneyRails™) and BIN Sponsorship offerings.
Through its compliance oversight and risk management-first culture, the Company is well positioned to guide fintechs through a rigorous process to facilitate regulatory compliance.
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