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RESEARCH EBOOK: WHAT BANKS AND FINTECHS NEED TO KNOW TO GROW MARKET SHARE

Research eBook: What Banks and Fintechs Need to Know to Grow Market Share

January 5, 2022

How, where and why people ‘bank’ and what it means for the future of financial services

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Despite 77% of U.S. adults still using traditional banks, Galileo research shows that 43% of their funds are kept elsewhere, and 61% of consumers are somewhat or highly likely to switch to a digital-only provider. 1

The way financial services are delivered to people and businesses globally is at a tipping point. Driven by rapid payments technology innovation and shifting consumer behaviors, the intersection of data, technology and finance has never presented greater opportunities for businesses looking to change how money moves around the world.

What's more, the opportunity is no longer limited to banking institutions. Non-financial businesses of all kinds are deploying innovative new user experiences and embedded financial solutions that are redefining the future of financial services—including how, why, and where consumers keep their money.

Take a deep dive into Galileo’s State of Consumer Banking and Money Survey results to discover how you can deliver financial experiences that respond to evolving consumer demands. You’ll learn more about where consumers keep their money, and why and how they use their accounts across a variety of traditional, digital and prepaid options. The eBook also unearths how financial innovators can build a roadmap to a better financial future for everyone, including:

• Why consumers choose and switch financial providers;

• The correlation between provider satisfaction and consumer behavior; and

• Opportunities for embedded finance and the future of fintech.

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How-Where-and-Why-People-Keep-and-Use-Their-Money final screen-pil216u2ogtxug1nh1l700m29sdnz899ujbqcje134

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June 3, 2025

One-Tap Payment Switch Gives Banks the Edge in Account Primacy

Prashant Shah, VP of product management at Galileo Financial Technologies, challenged the PYMNTS audience to remember a recent bill paying experience where updating a subscription meant having to chase down Netflix or Amazon — even the local power company — to log into each individual site to update payment details.

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May 30, 2025

‘Trust me, I’m an algorithm’: How fintech is rebuilding customer confidence in the age of AI

Trust in financial services now means showing customers how AI works, ensuring it treats them fairly, and being upfront about data use.

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May 29, 2025

What’s Happening With SOFI Stock?

The company’s strategic shift toward higher-margin revenue avenues through its Technology Platform (Galileo and Technisys) and Financial Services segments is attracting investor interest.

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May 20, 2025

Galileo Debuts ‘Payment Switch’ for Easier Bill Pay

Galileo integrates another new solution, powered by Atomic, to help clients become the first choice for everyday spend and grow recurring revenue.

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December 11, 2024

Behind SoFi's Technology Business

SoFi has built a booming business in banking, but how does the technology business work and scale?

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