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.
Galileo Lança Crédito Garantido com Financiamento Dinâmico
Descubra como o crédito garantido com financiamento dinâmico ajuda bancos e fintechs a oferecer soluções flexíveis de construção de crédito.
Galileo lança Verificação Instantânea de Conta e Pontuação de Risco com Aprendizado de Máquina
Novas ferramentas oferecem detecção de fraude em tempo real para fintechs, bancos e empresas, mantendo uma experiência de conta sem atritos para os clientes.
Galileo aprimora a oferta de gestão de despesas B2B com o Mastercard Smart Data
Como a Galileo Financial Technologies capacita clientes fintech como a Rho com o Mastercard Smart Data, melhorando a visibilidade dos gastos e simplificando a gestão de despesas para as empresas. Reduza erros, fraudes e trabalho manual com dados transacionais enriquecidos integrados de forma eficiente nos sistemas ERP.
Plataforma Galileo impulsiona crescimento de contas no 2º trimestre
Descubra como a plataforma Galileo impulsionou o crescimento de contas no 2º trimestre com soluções inovadoras.
Galileo ultrapassa 150 milhões de contas em mais um trimestre forte
A Galileo Financial Technologies superou 150 milhões de usuários finais no 1º trimestre de 2024, impulsionando o forte crescimento de receita da Plataforma Tecnológica da SoFi. Descubra como novos clientes e produtos inovadores estão alimentando essa expansão.