Galileo Financial Technologies tallied 158.4 million total enabled accounts in the first quarter of 2025, a 5 percent year-over-year increase from 151.0 million in Q1 of 2024, Galileo parent company SoFi Technologies announced in its most recent earnings report, released April 29, 2025.
SoFi’s Technology Platform segment—which comprises Galileo and the Technisys cloud-based core banking services platform—posted net revenue of $103.4 million during the quarter, representing a 10 percent annual increase, the company reported.
During SoFi’s earnings call, CEO Anthony Noto highlighted the Technology Platform’s sustained organic growth, while also noting the company’s strategic push to broaden the market for the segment beyond traditional financial services clients–citing a major partnership struck in Q1 with Wyndham Hotels & Resorts for a first-of-its-kind debit rewards card.
“Recognizing the longer lead times associated with large-scale core banking conversions and consolidation among smaller fintech clients, we found innovative ways to broaden our client base,” Noto said of the Wyndham deal. “Later this year, we expect to launch similar co-brand debit card programs with other travel and hospitality companies, further expanding our footprint among consumer brands,” he added.
SoFi also continued international expansion efforts for its Technology Platform in Q1, recently signing a deal with Mercantil Banco, which offers personal and business banking services in Panama. The bank will utilize SoFi’s Cyberbank Digital banking platform, further extending SoFi’s reach in Latin America, Noto said.
Looking ahead, the SoFi CEO expressed confidence in the Technology Platform’s continued growth trajectory.
“We are pleased with the demand from new client opportunities for the tech platform business and expect these wins and others in the RFP process to have an impact on our revenue in 2026 and beyond,” Noto said.
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.
‘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.
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.
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.
Behind SoFi's Technology Business
SoFi has built a booming business in banking, but how does the technology business work and scale?
