Galileo Financial Technologies’ total enabled client accounts grew by 15 percent year-over-year in the first quarter of 2023, to 126.3 million, Galileo parent company SoFi Technologies announced in its most recent earnings report, released on May 1, 2023.
SoFi’s Technology Platform Segment–which includes Galileo and the Technisys cloud-based core banking services platform–earned $77.9 million in revenue during the first quarter of 2023, a 28 percent year-over-year increase. Galileo-specific revenues were up 3 percent compared to Q1 2022, SoFi reported.
During the most recent quarter, Galileo inked deals with five new clients, making what SoFi CEO Anthony Noto called “big strides” in its diversified growth strategy of expanding into new verticals, products and geographies, and focusing on clients with large established user bases. Four of the five new clients have existing customers or portfolios, and Noto touted the “growing pipeline of joint opportunities selling combined Galileo and Technisys offerings to an expanded customer base.”
Meanwhile, Technisys added one new client in Mexico in Q1, and has entered the proof of concept stage with a large legacy financial institution, Noto said.
The quarter also saw SoFi’s Technology Platform reach the milestone of completing the transition of every client to the cloud, with 100 percent of Galileo- and Technisys-supported transactions now cloud-based, the SoFi CEO added.
During SoFi’s earnings call, Noto reported particularly strong client interest in Cyberbank Konecta, the conversational AI-based customer service offering Galileo rolled out earlier this year, as well as its Payment Risk Platform, which leverages AI and transactional data to mitigate payments fraud.
Engagement, New Partnerships Drive Growth for SoFi Tech Platform in Q3
SoFi's Technology Platform generated $114.6 million in Q3 2025 revenue while announcing a major partnership with Southwest Airlines to power their Rapid Rewards debit card program.
Swipe, Earn, and Fly With Southwest Airlines’ New Rapid Rewards Debit Card
Calling all budget-savvy travelers: Sign up to receive a welcome bonus and start earning points on everyday spending
Galileo, SoFi’s Tech Platform, Joins the AWS Partner Network
Partnership makes Galileo’s proven payment platform available through AWS, helping fintechs, banks, and brands accelerate innovation and reach.
Banks can’t duct tape their way out of legacy system failures. Core modernization is a business imperative
Legacy banking systems create mounting operational risks and innovation constraints, with "duct tape" fixes leading to frequent outages and inability to compete with agile fintechs. Ritesh Rihani from Galileo and John Kraper from PwC discuss incremental transformation strategies, talent challenges, and unlocking data-driven banking through modern API-based architecture and event-driven systems.
How to serve customers better at the point-of-decision ft. Galileo’s CEO Derek White
30% of customers are pulling out debit cards when making purchases at major travel and entertainment brands. The co-branded debit card presents a new opportunity or brands to deepen customer relationships while addressing the preferences of a generation that increasingly chooses debit over credit.
