FinWise Bancorp.
FINW.US | Other monetary intermediation
FinWise Bancorp operates as the bank holding company for FinWise Bank, providing a range of financial products and services to individuals and businesses. The bank focuses on serving the financial needs of its customers through various deposit accounts, loan products, and digital banking solutions. ...Show More
Better Health for All
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FinWise Bancorp's core banking products and services are generally health-neutral, with no significant positive or negative direct health impact. The company does not offer health-related products or services that would require specific safety records, price accessibility, or vulnerable population reach.
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There is no evidence of revenue from products with negative health outcomes, nor does the company engage in health-related R&D, education, or clinical trials.
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The company's operations do not generate significant health externalities, nor are they directly relevant to global health crisis response.
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FinWise Bancorp does not hold healthcare-related patents, nor does it produce food or nutritional products.
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Its products do not have addiction potential.
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Fair Money & Economic Opportunity
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FinWise Bancorp provides general statements about its commitment to regulatory compliance and guiding fintechs through rigorous processes. The bank also supports various community organizations through over $2 million in direct donations and employee donation matches, and its employees contribute over 500 annual volunteer hours.
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It offers a 'Moneywise' education hub for financial topics and supports Junior Achievement USA and ESL tutoring.
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However, the provided articles do not contain specific, quantifiable data points for any of the KPIs under 'Fair Money & Economic Opportunity', such as the percentage of underserved clients served, average APRs compared to market median, revenue from high-cost products, share of loan book dedicated to inclusion initiatives, details on open-banking APIs, specific fair-lending audit results, customer wealth-building outcomes, or the reach and impact of financial literacy programs. Therefore, no KPIs can be scored based on the provided evidence.
Fair Pay & Worker Respect
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No specific, quantitative data was found in the provided articles to assess FinWise Bancorp against the defined KPIs for Fair Pay & Worker Respect. Information regarding living wage coverage, CEO-to-median employee pay ratio, collective bargaining share, safety incident rate, pay equity ratio, worker engagement score, employee turnover rate, labor violation incidents, insecure contract share, or health insurance coverage was not explicitly provided for the company.
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While CEO compensation figures were mentioned, the crucial median employee compensation data required to calculate the CEO-median pay ratio was absent.
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Employee review ratings and awards like 'Best Places to Work' are qualitative and do not provide the specific quantitative metrics required by the rubric.
Fair Trade & Ethical Sourcing
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FinWise Bancorp operates as a financial institution and does not procure or trade physical commodities.
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Therefore, several KPIs related to fair trade certifications, supply chain audits, forced/child labor incidents, traceability, remediation speed for sourcing violations, and high-risk materials are not applicable to its business model.
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While The Bancorp's Vendor Code of Conduct encourages vendors to provide business opportunities to diverse suppliers and expects ethical practices,
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no specific percentage of procurement budget directed to diverse suppliers or percentage of contracts with enforceable ethical-sourcing clauses is provided.
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Honest & Fair Business
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FinWise Bancorp has an Anti-Bribery and Anti-Corruption (ABAC) Policy and Compliance Program.
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This policy enforces a zero-tolerance stance on bribery and corruption, prohibiting improper payments.
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It includes accurate record-keeping, risk-based due diligence for third parties, and a mechanism for reporting potential violations.
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The ABAC Compliance Program features a governance structure, risk assessment, training, monitoring, and confidential reporting.
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Kind to Animals
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FinWise Bancorp facilitates "predatory puppy loans" through partners.
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These partners finance purchases from "inhumane, high-volume dog breeding facilities that ignore the needs of the puppies, including proper veterinary care and early socialization."
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This directly relates to animal agriculture ethics, indicating extreme confinement and neglect. Consumer advocates have urged the FDIC to downgrade FinWise Bank's Community Reinvestment Act (CRA) rating due to these practices, demonstrating a lack of engagement in animal welfare policy improvement.
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The company also volunteered at The American Society for the Prevention of Cruelty to Animals® (ASPCA®) for Women's History Month.
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For all other KPIs, the company is service-oriented with no direct animal-derived products, testing activities, animal husbandry, or relevant R&D, making those KPIs not applicable.
No War, No Weapons
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No specific, concrete evidence was found in the provided articles to assess FinWise Bancorp against any of the 'No War, No Weapons' KPIs. The articles discuss a strategic partnership for business lending, general community engagement and philanthropic activities, and the broader regulatory environment for export controls impacting financial institutions. None of these provide quantitative data or specific actions by FinWise Bancorp related to arms contracts, dual-use technologies, sales to embargoed regimes, peacebuilding investments, or any other defense-related activities.
Planet-Friendly Business
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The provided articles focus on FinWise Bancorp's financial performance, fintech strategy, and general regulatory compliance. No specific, quantitative data or information related to any of the 'Planet-Friendly Business' KPIs, such as carbon emissions, renewable energy use, water management, waste diversion, green building certifications, climate targets, or environmental impact assessments, is present.
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Therefore, no KPIs can be scored based on the evidence provided.
Respect for Cultures & Communities
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FinWise Bancorp has established 13 formal partnerships with various non-profit organizations, including NeighborWorks Salt Lake, Holding Out HELP, People Helping People, MicroMentor, Junior Achievement USA, Women’s Resource Center, Utah Food Bank, American Red Cross, Kids Who Count, David Eccles School of Business, Journey of Hope, Guadalupe Schools, and Read with a Child.
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The company also reports over $2,000,000 in total donations to organizations through direct contributions and an employee donation match program, and its employees contribute over 500 volunteer hours annually.
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Safe & Smart Tech
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FinWise states it uses strong data encryption for data in-transit and at rest.
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The company employs strong passwords, multi-factor authentication, and OAuth.
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It conducts automated vulnerability scanning and monitoring, and maintains high code test coverage with automated unit, integration, and end-to-end tests, along with redundant sanity checks.
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FinWise claims ISO, SOC2, and GDPR compliance, with audits in progress and results to be publicly available.
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The company also notes various regulatory filings and compliance requirements related to banking operations, including capital adequacy, consumer protection, and anti-money laundering.
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Zero Waste & Sustainable Products
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No specific, quantitative data related to FinWise Bancorp's performance on zero waste or sustainable products was found in the provided articles. The articles discuss general industry trends in circular economy finance guidelines and secure card manufacturing, including the increasing use of sustainable materials like recycled plastic and bio-based plastics, but do not provide company-specific metrics for FINW.US.
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