The introduction of BIN for FinWise was intended to bring a fresh, innovative approach to our services. However, as we began scoping BIN, it became clear that our current knowledge and expertise were not fully aligned with the new demands.

iDENTIFY stood out because, unlike other partners, they possessed a deep and specialized understanding of the challenges we faced. Their team not only had the necessary expertise to quickly assess and address the knowledge gaps we identified, but they also demonstrated a keen ability to apply that knowledge effectively throughout the project. This enabled them to seamlessly guide our team through the integration process, empowering us with the skills and resources needed to make significant progress despite our previous challenges. Their detailed understanding of BIN and its requirements helped us move forward with confidence.

Sarah Grotta

Deputy Chief Fintech Officer

FinWise Bank

What did the frustration feel like as you tried to solve your problem?

‍BIN's implementation required several aspects the team had no previous knowledge of. As such, we realized a significant gap in the BIN space. Moreover, integrating several data sources and reporting would be needed to support the operational side of the BIN project.‍ Alongside the technical challenges, we also faced limitations in our development resources. Our team was already stretched thin managing existing projects, and the additional workload for integrating data from several sources to support BIN meant we had to confront the reality of limited manpower. This resource shortfall risked slowing down data integration and report development progress. Addressing these challenges frustrated us because we needed to upskill our team to bridge a significant knowledge gap in the BIN space while juggling the high demands of data integration and report development. Mounting resource constraints and stretched development capacity turned every integration attempt into a constant battle against time and limited expertise, leaving us treading water in a sea of mounting tasks and responsibilities.

Take us to the moment when you realized iDENTIFY was actually working to solve your problem.

We first realized iDENTIFY was genuinely making a difference when we had Tableau reports online, and the iDENTIFY team helped identify data issues, such as missing files and incorrect data. The team seamlessly transferred their knowledge, allowing us to bridge the gaps we had struggled with. The pressure that had once weighed us down began to lift, and we could see immediate improvements in our workflows. Their assistance alleviated the strain on our existing resources and empowered us to move forward with confidence, knowing our challenges were being effectively addressed.

Tell us what life looks like now that your problem is solved or is being solved.

Now that iDENTIFY is addressing our resource constraints, life has become much more streamlined and efficient. The constant pressure of juggling tasks and managing limited resources has significantly decreased. With iDENTIFY’s expertise, our team can focus on data integration, report development, and strategic planning, knowing that we have the resources to assist in expanding our BIN project.

About FinWise Bank

We have stepped forward to advance the future of banking, lending, card and payment solutions for leading fintechs. We deliver a Credit Enhancement solution, BIN Sponsorship, Payments Hub (MoneyRails™) and Lending programs such as SBA 7(a), Owner Occupied RE, and Leasing, which provide flexibility for disciplined balance sheet growth.  Through our compliance oversight and risk management-first culture, our team is well positioned to guide fintechs through a rigorous process to facilitate regulatory compliance.