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.
The Spring Surge: New Galileo Debit Spend Index Charts Q1 Spend and the Year Ahead
American consumers spent cautiously on debit through January and early February before early tax refunds and spring weather sparked a March spending surge, according to the inaugural Galileo Debit Spend Index.
Why Gen Z’s Debit Card Push is Eating Into Credit Card Profits
For people worried about the economy and dealing with affordability issues, one option could be to tuck that high interest rate credit card aside and reach for a trusty debit card instead. To uncover the latest debit card trends, CardRates recently sat down with Paul Dunning, Vice President of Business Development at Galileo Financial Technologies, a fintech firm owned by SoFi. He explained why Gen Z consumers are turning to debit cards and expecting rewards, the compelling case for debit card rewards, and the appeal of debit cards for the debit-first consumer.
Half of Consumers Have Chosen One Brand Over Another Because Paying or Getting a Refund Was Easier
Consumer demand for financial services embedded within brand apps is outpacing brands’ ability to deliver, with most executives recognizing the gap. New research from Galileo Financial Technologies, soon to become SoFi Technology Solutions, found that 80% of brand executives say they plan to launch integrated financial services, but only 20% have done so thus far. The 2026 Galileo Integrated Financial Services Research Report, based on surveys of more than 2,000 U.S. consumers and 150 senior executives, shows that while consumers are already using features like saved cards, rewards, and instant refunds inside brand apps, most brands have yet to launch these capabilities.
Brand Executives Fear They’re Losing Customers to Rivals With In-App Financial Tools, Galileo Research Finds
Half of consumers have chosen one brand over another because paying or getting a refund was easier
Introducing SoFi Tech Solutions: A Unified Brand Built to Power End-to-End Financial Innovation
We’re evolving from Galileo to SoFi Tech Solutions to reflect the full scope of our platform. We deliver end-to-end infrastructure for fintechs, brands, and financial institutions, now backed by SoFi’s scale and resources. Our mission stays the same: support our clients’ growth while maintaining platform neutrality and strong data protections.
