Galileo Changes Legal Name to Reflect Position as Industry Leader in Financial Technology
August 28, 2019
Galileo, the company that powers the world’s leading fintechs, announced today that it has updated its legal name to Galileo Financial Technologies, Inc. from Galileo Financial Technologies, LLC. The company will continue to be known informally as Galileo.
“What we bring to our fintech, financial institution and investment firm clients goes far beyond processing,” explained Galileo CEO Clay Wilkes. “The small, but meaningful, change to our legal name more accurately captures the capabilities of our sophisticated payments platform, including the power, speed and simplicity of our open APIs and the full-stack support for the functionality that must sit behind efficient and secure financial services. “Galileo’s APIs give global fintech leaders the ability to use our powerful technology platform to innovate in the banking and payments ecosystem,” he continued. “They can use our platform to move fast to begin issuing payment credentials, with the confidence to grow and scale profitable businesses.”
World-leading fintechs—including KOHO, Robinhood, TransferWise, Varo and many others—use Galileo’s payments platform in a variety of use cases, such as challenger banking, lending, consumer payments, commercial payments, gig economy applications and wealth management solutions. Earlier this summer, the company announced Galileo Money+, a new product that enables registered investment advisors to create white-labeled bank accounts.
With more products in the pipeline and an aggressive roadmap for adding new platform features, Galileo continues to enable its clients to challenge the status quo in payments.
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SoFi and Mastercard Partner to Enable SoFiUSD Settlement Across Mastercard’s Global Payments Network
SoFi’s fully reserved U.S. dollar stablecoin will support settlement across the Mastercard network, including for SoFi Bank, N.A. Galileo, SoFi’s technology platform, will be among the first to offer its clients and their issuing banks the choice to settle transactions using SoFiUSD The Mastercard Multi-Token Network will look to support SoFiUSD, help expand interoperability between digital assets and traditional forms of money
Southwest and Galileo Bring Rewards to Debit’s Doorstep
Galileo’s platform integrates issuing, processing, and program management so non-financial brands like Southwest can launch co-branded cards faster. The economics of debit rewards differ from credit, but Galileo CFO Bill Kennedy said technology efficiencies and deeper loyalty make the model sustainable.
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Southwest Airlines, powered by Galileo (SoFi’s tech platform), has launched the Rapid Rewards Debit Card
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