- Appoints Susan Ehrlich to Board -

MURRAY, Utah, July 22, 2024 (GLOBE NEWSWIRE) -- FinWise Bancorp (NASDAQ: FINW) (“FinWise” or the “Company”), parent company of FinWise Bank (the “Bank”), today announced the expansion of its Board of Directors by appointing Susan Ehrlich to the Company’s Board, effective immediately. Ms. Ehrlich has also been appointed to the Bank’s Board of Directors.

Ms. Ehrlich brings over 25 years of experience and successful achievements in lending, banking and payments across fintech, financial services and retail. She has a proven record of scaling growth and improving profitability through product innovation and digital business transformation. She currently serves as Partner of Core Innovation Capital, an early-stage fintech venture capital firm. Ms. Ehrlich has also served on the Board of Directors for the Boeing Employees Credit Union (BECU), and Petal Card, a startup fintech which recently sold to Empower. She has also served as the Board Chair of the Financial Health Network (formerly CFSI) and was a member of the Consumer Advisory Council of the Federal Reserve in Washington. Ms. Ehrlich holds a B. A. with honors from Brown University and an M.B.A. from the Harvard Business School.

Kent Landvatter, Chief Executive Officer of FinWise commented, "We are thrilled to welcome Susan to our Board of Directors. Susan brings a wealth of experience in fintech lending and payments, as well as hands-on experience operating in fast-paced, technology-driven organizations. Susan has demonstrated a proven ability to build teams and grow enterprise value, all of which will be instrumental for our ongoing governance process."

"I am excited to join the FinWise Board of Directors and contribute to the Company's continued success," said Ms. Ehrlich. "FinWise is at the forefront of innovation in the fintech banking and payments industry, and I look forward to working with the team to drive growth and create value for our shareholders."

About FinWise Bancorp

FinWise provides Banking and Payments solutions to fintech brands. 2024 is a key expansion year for the Company, as it diversifies its business model by launching and incorporating Payments Hub and BIN Sponsorship offerings into its current platforms.

Its existing Strategic Program Lending business, done through scalable API-driven infrastructure, powers deposit, lending and payments programs for leading fintech brands. In addition, FinWise manages other Lending programs such as SBA 7(a), Real Estate, and Leasing, which provide optionality for disciplined balance sheet growth.