Futr passes one million transactions with FinWise Bank

Executive Summary

• Futr Corp. has surpassed a major operational milestone, processing over 1,000,000 transactions and $380 million (USD) in payment volume through its banking partner, FinWise Bank.
• Since March 2024, the platform has facilitated more than $3 billion in total payments for approximately 300,000 users, leveraging FinWise’s cost-efficient payment rails for automated cash flow and loan management.
• Futr anticipates significant growth in transaction volume, processed dollars, and deposits as it expands into new consumer markets and launches its AI agent app, earning revenue through convenience fees and basis points on transiting deposits.

Key Details

• Transaction Volume: Surpassed 1,000,000 individual transactions.
• Payment Volume: Reached $380 million (USD) in payment transaction volume via FinWise Bank.
• Total Historical Volume: Processed over $3 billion in payments since March 2024.
• User Base: Serves nearly 300,000 users.
• Revenue Model: Futr earns convenience fees on transactions and basis points on transiting deposits held at FinWise.
• Strategic Growth: Expansion plans include new consumer markets, new partners, and the introduction of an AI agent app to drive further growth in users, features, and payment automation.
• Banking Relationship: Maintains monthly deposits at FinWise from transiting payments as part of the overall banking relationship.

Notable Quotes

• "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.
• "We appreciate that Futr recognizes our vision and the value of our payments platforms... This partnership with Futr also gives FinWise the opportunity to generate lower-cost deposits," stated Robert Keil, senior vice-president and chief fintech officer at FinWise Bank.