Top prepaid issuer has selected Galileo’s industry-leading payments processing platform
SALT LAKE CITY (August 8, 2018) — Galileo, one of North America’s largest and most innovative payments processors and program managers, known for supporting debit, credit, prepaid, commercial and virtual cards linked to more than 87 million accounts, today announced that Sutton Bank has chosen its industry-leading processing platform to help the bank expand its prepaid offerings.
“Galileo is proud to support Sutton Bank as it launches its new product,” said Clay Wilkes, founder and CEO of Galileo Processing. “By leveraging our platform, Sutton Bank and its clients will benefit from our flexible, innovative technology and nearly 20 years of proven experience.”
Through this partnership, Sutton Bank, one of the top issuers of prepaid cards nationwide, will expand its offering of open loop prepaid cards. Galileo’s platform can support customized open loop prepaid cards for Visa, Mastercard and Discover. Partners have the ability to setup customized parameters and fee settings to fit the needs of their customers. Cards can be created and funded in real time through Galileo’s industry-leading APIs. Through these APIs, partners can also receive real-time reporting on all open loop card transactions. Coupling Sutton’s and Galileo’s market-leading anti-fraud capabilities makes for a unique value proposition for partners and programs.
“Sutton Bank is excited to add Galileo as another processing partner to bring additional capabilities to our customers,” said Jeff Lewis, Sutton Bank’s senior vice president of payments. “Galileo’s processing platform and our deep history in prepaid issuing make for offerings that lead in speed, scale, nimbleness, anti-fraud, BSA compliance and reconciliation to round out a complete solution for our shared partners.”
About Galileo
Founded in 2000, Galileo is one of North America’s largest and most innovative payments processors and program managers, supporting 87+ million accounts. Galileo Processing applies tech and engineering capabilities to empower fintechs and financial institutions to unleash their full creativity to achieve their most inspired goals. Galileo leads its industry with superior fraud detection, security, decision-making analytics and regulatory compliance functionality combined with customized, responsive and flexible programs to accelerate the success of all payments companies and solve tomorrow’s payments challenges today.
About Sutton Bank
Founded in 1878, Sutton Bank recognizes at its core, banking has always been a business of responsibility and earning the trust of all stakeholders. Our board and staff are committed to our mission, differentiated by our values, and driven by shareholder expectations to be a viable, progressive, independent community bank through old fashioned innovation providing value to those we serve.
Galileo impulsiona a integração e expansão perfeita da SoFi no setor fintech
Desde a aquisição da Galileo Financial Technologies em 2020, a SoFi Technologies, Inc. (SOFI) tem fortalecido sua infraestrutura fintech ao integrar as capacidades de processamento de pagamentos e tecnologia da Galileo em seu portfólio crescente de soluções.
O Banco Moderno Começa com a Mentalidade Antes da Tecnologia
Apesar dos investimentos massivos em transformação digital, uma lacuna persistente entre a estabilidade operacional e a inovação voltada para o futuro continua a impedir o progresso.
Economia de Assinaturas Deve Alcançar US$ 1,2 Trilhões até 2030
Muitos consumidores podem se sentir sobrecarregados com suas assinaturas, mas isso não parece estar impedindo o crescimento dessa prática. Segundo um relatório divulgado na segunda-feira pela Juniper Research, sediada em Londres, a economia de assinaturas quase dobrará nos próximos cinco anos, passando de US$ 722,5 bilhões em 2025 para US$ 1,2 trilhão.
Você Está Recompensando os Clientes Certos? Veja Como Fechar a Lacuna de Fidelidade
As necessidades dos consumidores superaram as soluções financeiras criadas para atendê-los. A maioria dos americanos usa o débito como principal método de pagamento—mais de 90% dos adultos nos EUA possuem um cartão de débito—mas não estão sendo recompensados pelo que gastam ou por sua lealdade à marca.
Carteiras Digitais Unem Bancos e FinTechs no Esforço de Inclusão da América Latina
Tory Jackson, chefe de desenvolvimento de negócios e estratégia para a América Latina na Galileo, disse à PYMNTS que a região oferece lições para outros países em termos de inovação nos serviços financeiros e inclusão financeira.
