In a wide-ranging interview with Fintech Finance during this year’s Paris Fintech Forum, Galileo SVP Scott Johnson acknowledged that in recent years the U.S. has lagged European counterparts in adopting new payment technology, citing the relatively recent introduction of EMV and the slow roll out of real-time payments as prime examples.
Still, Johnson said, Galileo has experienced unbelievable growth as fintech has evolved rapidly not only in the U.S. but also in the UK and Europe. He credited Galileo’s rapid growth to its infrastructure—specifically its open APIs and platform, which power leading U.S. neobanks and the U.S. operations of Monzo and TransferWise.
He added, “As an infrastructure payments company, we see the value in our company through our partners and their growth.”
Johnson noted that as you look at the Americas—not only the U.S.—he appreciates how fast payments are evolving, pointing to rapid adoption of financial inclusion and new payments mechanisms. He’s impressed with the number of fintech startups in Latin America—particularly Mexico—where Galileo opened an office last month, and the fintech investment pouring into Latin America.
Johnson concluded saying his favorite takeaway from the Paris Fintech Forum was meeting with Galileo’s many U.K.- and Europe-based partners and learning more about what they’re doing.
“The Paris Fintech Forum is a great conference to get all the different ideas that are coming together,” he said. “And, it’s a pleasure to see how many U.S. companies are coming here and vice versa—how many European companies are coming to the U.S.”
He added that he appreciates seeing the innovation in U.K. and Europe because—like the Beatles more than 50 years ago—we’re now being influenced by that innovation in the U.S.
From Enrollment to Engagement: Designing Custom Digital Journeys
Discover how personalized digital banking journeys boost conversion rates, engagement, and customer loyalty.
Why Your Bank’s Chatbot Isn’t Working (And What Comes Next)
Learn why traditional bank chatbots fail customers–and how conversational AI is revolutionizing financial services customer support.
Launching a Successful Card Program in 2025
Launch successful card programs in 2025 with expert strategies from top fintechs. Learn differentiation, planning, and partnership frameworks for competitive advantage.
How LatAm Banks Can Protect Customers in the Age of Distracted Banking
Banks can combat distracted banking fraud in LatAm through enhanced security measures, education campaigns, and streamlined verification processes.
How LatAm Can Lead Global Open Banking Innovation
Latin America can lead open banking innovation by learning from Europe’s regulatory challenges and market limitations.