The closing today of our transaction with SoFi is a milestone not just for our two companies but for what it says about the transition from physical to digital finance: The future of finance is digital. Together with SoFi, we’re fueling that digital future.
Via our APIs, Galileo already acts as the account of record, including creating and maintaining accounts, transactional ledger, connectivity to the payment networks, fraud, disputes, customer service and the back-office capabilities that enable our clients to launch world-class banking products. And everything we’ve created on the debit side, SoFi has accomplished in the credit arena—not just underwriting and assessing borrower risk, but in the digital application, funding and securitizing as well.
The day-to-day experience for Galileo clients won’t change, as Galileo continues to operate independently. But by bringing together our two complementary businesses, we’re realizing a vision for supporting clients with a comprehensive range of products that’s light years ahead of what others can provide. And, as always, Galileo is committed to confidentiality and protecting our clients’ data—including their customer data, product roadmaps, strategies and plans—from third parties. We will not share client data with SoFi, just as we don’t share a client’s data with any other client. We always have and always will respect the privacy of our clients’ data. It’s core to what we do.
We’re excited to be part of the SoFi family and together deliver the absolute best in financial services technology. We’re committed to help all our clients take advantage of a range of new products unequalled in the market.
Our shared commitment to reinventing and optimizing how digital finance is done today means the future starts now.
Your Loyalty Program Might Be Ignoring Your Best Customers
For decades, most loyalty programs were built around credit cards. That alignment made sense at a time when revolving credit was the primary lens through which loyalty and rewards were structured. But consumer payment behavior has changed, and Gen Z is making that shift especially visible.
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.
United Airlines Launches MileagePlus Debit Rewards Card that Earns Miles for Spending and Saving
This new card allows MileagePlus members to earn miles through everyday purchases and qualifying account balances. Available now with no monthly fees with an average daily account balance of $2,000 or greater, MileagePlus members can open the debit rewards card at UnitedDebitRewards.com
Southwest Airlines, powered by Galileo (SoFi’s tech platform), has launched the Rapid Rewards Debit Card
Southwest Airlines, powered by Galileo (SoFi’s tech platform), has launched the Rapid Rewards Debit Card, letting debit-first customers earn points on everyday purchases to redeem against flights.
