FinWise Bank Partners With Stride Funding on Employer Sponsored Loan Program

FinWise Bank, a Utah-based bank known for its fintech lending partnerships, announced a collaboration with Stride Funding to introduce an innovative Employer Sponsored Loan (ESL) program targeting students. Under the partnership, FinWise Bank serves as the originating bank while Stride Funding provides the technology platform and employer distribution channel. The ESL program allows employers to sponsor loan products for their employees or prospective hires pursuing education, creating a novel embedded lending use case.

FinWise Bank has been an active BaaS sponsor bank across multiple lending verticals, and this partnership extends its reach into education finance. The exact launch date was not specified but aligns with the late 2023 period. Financial terms of the arrangement were not publicly disclosed.

The program represents an innovative twist on embedded lending by incorporating employer sponsorship into the loan structure.