SALT LAKE CITY–(BUSINESS WIRE)–Galileo Financial Technologies, a leading financial technology company owned and operated independently by SoFi Technologies, Inc. (NASDAQ: SOFI), today announced that its API-enabled financial technology powers Flyp. Flyp is a banking app and digital wallet, with gamified rewards, challenges, and quests to attract, engage and retain customers. Through its direct integration, Galileo’s underlying solution — complete with fraud indicators, analytics dashboards, and more — will serve as the backbone of Flyp’s growing gamified banking-as-a-service (BaaS) platform. Flyp’s approach is resonating with consumers because every penny counts right now, and many are looking to solutions that pair no- or low-fee options with the seamless user experience they have grown accustomed to in their digital-first lives.
According to recent Galileo research, 65 percent of consumers would choose embedded finance solutions to get rewards or discounts, highlighting an opportunity for innovative user experiences and embedded financial solutions. Flyp launched their mobile banking app in March 2022 to address these needs. To support modern banking customers, Flyp’s solution includes an engaging gamified rewards program, full Visa® debit card functionality, early direct deposit functionality and free overdraft protection that will be delivered friction-free through Galileo’s purpose-built platform.
"We recognized early that Flyp’s processor needed to be best-in-breed to ensure a seamless user experience and be able to scale as we grow."
“We recognized early that Flyp’s processor needed to be best-in-breed to ensure a seamless user experience and be able to scale as we grow,” said BJ McAndrews, Founder and CEO of Flyp. “Galileo’s extensive track record in fraud prevention and forward-looking technology was the perfect solution to help acquire and retain Flyp users who are looking for a digital banking product that meets their everyday needs.”
Galileo’s cloud-based financial technology platform is built with flexibility, speed and scale in mind, enabling new and established brands to launch innovative financial services that can adapt to evolving customer needs. The integrations will work alongside Flyp’s design to combine easy-to-use services with financial literacy tools to offer a modern mobile banking app and resources for personal money management.
“Galileo’s expertise in driving innovation into the financial services sector, supporting fresh approaches to security, payments, and financial inclusion, will help Flyp to differentiate and scale fast,” said Derek White, CEO at Galileo. “Together, Galileo will enable Flyp to continue building its digital banking business with a customized, responsive and flexible program built for the modern customer.”
For more information about Galileo’s platform and powerful APIs, visit www.galileo-ft.com.
About Galileo Financial Technologies
Galileo is a leading financial technology company whose platform, open API technology and proven expertise enable fintechs, emerging and established brands to create differentiated financial solutions that expand the financial frontier. Galileo removes the complexity from payments and financial services innovation by providing flexible, open API building blocks and a secure, scalable, future-proof platform. Trusted by digital banking heavyweights, early-stage innovators and enterprise clients alike, Galileo supports issuing physical and virtual payment cards, mobile push provisioning and more, across industries and geographies. Headquartered in Salt Lake City, Galileo has offices in Mexico City, New York City, San Francisco and Seattle.
About Flyp
Flyp is a FinTech headquartered in Charlotte, NC that offers a modern, mobile, social way to manage your finances. Flyp currently offers a digital wallet with debit card, gamified rewards, financial literacy education, sweepstakes, gamified challenges, quests, and plans to offer NFTs, crypto, and more.
Contacts Denisa Balana The Fletcher Group 416.627.2009 denisa@fletchergroupllc.com
O Impulso da Primavera: Novo Índice de Gastos com Débito da Galileo Mostra os Gastos do 1º Trimestre e as Perspectivas para o Ano
Os consumidores americanos gastaram com cautela no débito durante janeiro e início de fevereiro, antes que as restituições de impostos antecipadas e o clima de primavera desencadeassem um aumento de gastos em março, de acordo com o Índice de Gastos com Cartão de Débito da Galileo (Galileo Debit Spend Index) inaugural.
Por que o avanço dos cartões de débito da Geração Z está reduzindo os lucros dos cartões de crédito
Para pessoas preocupadas com a economia e enfrentando questões de acessibilidade financeira, uma opção pode ser deixar de lado o cartão de crédito com altas taxas de juros e optar por um cartão de débito confiável. Para descobrir as últimas tendências em cartões de débito, a CardRates conversou recentemente com Paul Dunning, Vice-Presidente de Desenvolvimento de Negócios da Galileo Financial Technologies, uma fintech pertencente à SoFi. Ele explicou por que os consumidores da Geração Z estão migrando para cartões de débito e esperando recompensas, o forte apelo das recompensas em débito e a atratividade dos cartões de débito para o consumidor que prioriza o débito.
Metade dos consumidores escolheu uma marca em vez de outra porque pagar ou receber reembolso era mais fácil
A demanda dos consumidores por serviços financeiros integrados em aplicativos de marcas está superando a capacidade das empresas de entregá-los, e a maioria dos executivos reconhece essa lacuna. Uma nova pesquisa da Galileo Financial Technologies, que em breve se tornará SoFi Technology Solutions, revelou que 80% dos executivos de marcas afirmam planejar lançar serviços financeiros integrados, mas apenas 20% já o fizeram até agora. O Relatório de Pesquisa Galileo Integrated Financial Services 2026, baseado em pesquisas com mais de 2.000 consumidores dos EUA e 150 executivos seniores, mostra que, embora os consumidores já utilizem funcionalidades como cartões salvos, recompensas e reembolsos instantâneos dentro de aplicativos de marcas, a maioria das empresas ainda não lançou essas capacidades.
Executivos de marcas temem perder clientes para concorrentes com ferramentas financeiras integradas em aplicativos, aponta pesquisa da Galileo
Metade dos consumidores escolheu uma marca em vez de outra porque pagar ou receber um reembolso era mais fácil
Apresentando a SoFi Tech Solutions: uma marca unificada criada para impulsionar a inovação financeira de ponta a ponta
Estamos evoluindo de Galileo para SoFi Tech Solutions para refletir todo o alcance da nossa plataforma. Oferecemos infraestrutura de ponta a ponta para fintechs, marcas e instituições financeiras, agora com o suporte da escala e dos recursos da SoFi. Nossa missão permanece a mesma: apoiar o crescimento dos nossos clientes, mantendo a neutralidade da plataforma e a proteção rigorosa dos dados.
