FinWise Bancorp, the parent company of FinWise Bank, announced today a strategic agreement with DreamFi Inc., a fintech startup co-founded by civil rights attorney Ben Crump and Business Funding Group.
Stamford, Conn.-based DreamFi aims to improve financial wellness and access for underserved and underbanked communities through education, awareness and practical tools, according to today’s Finwise release. Under the partnership, Utah-based FinWise will provide mobile banking and payments infrastructure, while DreamFi will deliver financial literacy resources to help users manage their finances and build long-term stability.
The initial rollout will include access to products such as a DreamFi Debit Card, checking accounts, and a network of more than 40,000 surcharge-free ATMs, according to the relase. Consumers will also gain benefits like prescription savings, life insurance, phone protection and roadside assistance. Future offerings may expand to include business and consumer lending, bill pay and savings products.
“We are delighted to launch this partnership with DreamFi,” said Robert Keil, executive vice president and chief fintech officer at FinWise. “It aligns with our mission to expand financial wellness and our card and BIN sponsorship business.”
DreamFi CEO Don Ross said in the release the partnership leverages FinWise’s regulatory expertise to deliver impactful, scalable solutions for financially underserved communities.
Finwise (NYSE: FINW) was trading at $17.91 at market open today. Finwise has a market capitalization of $242.1 million.
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