The full-suite app leverages Galileo’s powerful financial technology platform and flexible APIs to create seamless digital banking experiences for customers
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 Spruce℠, the mobile banking platform built by H&R Block (NYSE: HRB), which launched on January 20, 2022. Spruce includes a spending account with a debit card, a connected savings account that allows for specific budgeting goals, early paycheck availability and overdraft protection―all of which are delivered seamlessly through Galileo’s award-winning platform.
Spruce has entered the market at a time when consumers across demographics are adopting more digital banking solutions. In fact, 44% of U.S. consumers use digital-only banks as a primary or secondary account, while 61% of consumers say they are somewhat or highly likely to switch to a digital-only bank as their primary provider, Galileo research shows.
“Consumers are embracing digital financial services at an unprecedented pace,” said Derek White, CEO, Galileo Financial Technologies. “As a trusted brand built on more than six decades of experience in money management, H&R Block recognizes this behavioral change in consumer interaction with money and created Spruce to meet consumers where they are and to increase financial inclusion and stability for all.”
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.
“Helping customers have financial confidence is our ultimate goal at H&R Block. We want them to be able to easily, quickly and reliably access, deposit, transfer and grow their money through Spruce,” said Les Whiting, Chief Financial Services Officer at H&R Block. “When seeking a partner to help us launch and scale Spruce, Galileo was the right choice thanks to its decades-long history of supporting the world’s most innovative digital banks and financial services providers. We are excited to continue our collaboration with Galileo as we expand Spruce.”
Click here for the full release.
Spruce is a financial technology platform built by H&R Block, which is not a bank. SpruceSM Spending and Savings Accounts are established at, and the Spruce debit card is issued by, MetaBank®, N.A., Member FDIC, pursuant to license by Mastercard International Incorporated. Mastercard® and the circles design are registered trademarks of Mastercard International Incorporated.
Seu programa de fidelidade pode estar ignorando seus melhores clientes
Por décadas, a maioria dos programas de fidelidade foi construída em torno de cartões de crédito. Esse alinhamento fazia sentido em um momento em que o crédito rotativo era a principal forma de estruturar lealdade e recompensas. Mas o comportamento de pagamento dos consumidores mudou, e a Geração Z está tornando essa mudança ainda mais evidente.
SoFi e Mastercard firmam parceria para habilitar liquidação com SoFiUSD na rede global de pagamentos da Mastercard
A stablecoin da SoFi, totalmente lastreada em dólares americanos, permitirá liquidação na rede da Mastercard, incluindo para o SoFi Bank, N.A. A Galileo, plataforma tecnológica da SoFi, estará entre as primeiras a oferecer aos seus clientes e aos seus bancos emissores a opção de liquidar transações usando SoFiUSD A Mastercard Multi-Token Network buscará suportar o SoFiUSD e ajudar a expandir a interoperabilidade entre ativos digitais e formas tradicionais de dinheiro
Southwest e Galileo levam recompensas direto para o débito
A plataforma da Galileo integra emissão, processamento e gestão de programas, permitindo que marcas não financeiras como a Southwest lancem cartões co-branded de forma mais rápida. A economia das recompensas no débito é diferente do crédito, mas o CFO da Galileo, Bill Kennedy, afirmou que as eficiências tecnológicas e a lealdade mais profunda tornam o modelo sustentável.
United Airlines lança o cartão de débito MileagePlus Rewards que acumula milhas ao gastar e poupar
Este novo cartão permite que os membros do MileagePlus acumulem milhas por meio de compras do dia a dia e saldos de conta elegíveis. Disponível agora sem taxas mensais para quem mantém um saldo médio diário de US$ 2.000 ou mais, os membros do MileagePlus podem solicitar o cartão de débito com recompensas em UnitedDebitRewards.com.
A Southwest Airlines, impulsionada pela Galileo (a plataforma de tecnologia da SoFi), lançou o Rapid Rewards Debit Card
A Southwest Airlines, impulsionada pela Galileo (a plataforma de tecnologia da SoFi), lançou o Rapid Rewards Debit Card, permitindo que clientes que usam débito ganhem pontos em compras do dia a dia para trocar por voos.
