English
GALILEO ACCOUNTS JUMP 80%, REVENUE INCREASES 29% IN Q3

Galileo Accounts Jump 80%, Revenue Increases 29% in Q3

November 11, 2021

Galileo Financial Technologies, a subsidiary of SoFi Technologies, Inc. (NASDAQ: SOFI), now supports 89 million accounts on its best-in-class financial technology platform, an 80% year-over-year increase from 49 million accounts in Q3 2020.

Galileo continued to build on its momentum in 2021, according to the results, which SoFi announced on Nov. 10, 2021, as part of its Q3 financial report. SoFi’s Technology Platform segment, composed mainly of Galileo, contributed $50.2 million, or 18%, of total net revenue in the quarter, representing 29% year-over-year growth and 11% sequential growth compared with the previous quarter.

“Galileo not only allows us to innovate faster on our products, but it also positions us prominently among integrated tech platforms that service financial and non-financial institutions,” said SoFi CEO Anthony Noto. “Our significant investment to build a new cloud-based, modern card issuing and payment platform is resonating with both existing and prospective clients.”

Galileo’s flexible solutions, including its flagship platform and open API technology, continue to gain traction among emerging and established neobanks, traditional banks and non-financial companies. The Salt Lake City-based company, which helps clients create differentiated financial experiences for consumers that expand the financial frontier, signed 13 new clients during the third quarter, bringing the year-to-date total to 35.

See SoFi’s full third-quarter results for more details.

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.

See More
March 3, 2025

Galileo Brings Co-Brand Debit Rewards to Hospitality Sector

Galileo is bringing its debit card rewards programme - which allows brands to offer debit users access to rewards normally reserved for credit card customers - to the US hospitality sector.

See More
December 16, 2024

Choosing the Best Banking Option Isn’t Always Easy

Choosing the right banking option can be complex, with consumers weighing features like fees, accessibility and digital tools across traditional banks, credit unions, online banks and fintech firms.

See More
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?

See More
September 12, 2024

C-Suite Perspectives On AI: Derek White Of Galileo Financial Technologies On Where to Use AI and Where to Rely Only on Humans

As artificial intelligence (AI) continues to advance and integrate into various aspects of business, decision-makers at the highest levels face the complex task of determining where AI can be most effectively utilized and where the human touch remains irreplaceable. This series seeks to explore the nuanced decisions made by C-Suite executives regarding the implementation of AI in their operations. As part of this series, we had the pleasure of interviewing Derek White.

See More