FUTR partnered with FinWise in March 2024 and completed a full customer migration by summer. FUTR now leverages FinWise’s MoneyRails™ for payments and money movement.
TheFUTR Corporation, a consumer-centric platform for data valuation and monetization is pleased to announce a major operational milestone, passing 1,000,000 transactions and USD$380 million in payment transaction volume using FinWise Bank’s payment rails.
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The platform has processed more than $3 billion in payments for nearly 300,000 users through automated cash flow and loan management. Since March 2024, these transactions have leveraged FinWise Bank’s payment services, including multiple cost-efficient payment rails. FUTR also maintains monthly deposits at FinWise from transiting payments as part of the overall relationship.
As FUTR expands into new consumer markets and introduces the AI Agent App, it expects significant growth in transaction volume, processed dollars, and deposits on its banking partner platforms. With new partners and a deepening of the FinWise partnership, FUTR also anticipates greater payment automation. Leveraging FinWise’s efficient and cost-effective platform, FUTR earns convenience fees on transactions and basis points on transiting deposits.
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“This milestone demonstrates consumers’ strong trust in FUTR to deliver real savings and convenience with our automated cash management platform coupled with smart payment rails,” said Mindy Bruns, Chief Business Officer at FUTR. “A major part of this value is access to solid infrastructure from FinWise. We’re preparing for substantial growth in users and features in the months ahead.”
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“We appreciate that FUTR recognizes our vision and the value of our payments platforms,” stated Robert Keil, SVP and Chief Fintech Officer at FinWise Bank. “We are pleased with the customer migration and see a lot of value in FUTR’s consumer-focused services. This partnership with FUTR also gives FinWise the opportunity to generate lower-cost deposits.”
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Source : businesswire