In this Wharton Fintech exclusive, Wharton MBA candidate Miguel Armaza and recent MBA graduate Guillermo Gonzalez went behind the scenes with SoFi’s Anthony Noto and Galileo’s Clay Wilkes to explore what the Wharton team describes as “one of the most transformational acquisitions in the fintech space to date”—the recent transaction in which SoFi acquired Galileo for the total sum of $1.2 billion.
To get to the heart of the strategy that drove the union, Miguel and Guillermo asked what prompted SoFi to consider Galileo as a crucial strategic alternative and explored the challenges of executing a landmark transaction during a global pandemic.
They also dove down on what the future holds for SoFi and Galileo, including product plans that leverage the companies’ unique strengths and capabilities, and plans for international expansion.
A key message emerging from the conversation is Anthony and Clay’s mutual belief in the mission of advancing financial independence and inclusion, which has guided the decision to keep both companies independent, opening the door for far-reaching, industry-wide collaborations.
Tune into the full conversation by clicking here.
The Spring Surge: New Galileo Debit Spend Index Charts Q1 Spend and the Year Ahead
American consumers spent cautiously on debit through January and early February before early tax refunds and spring weather sparked a March spending surge, according to the inaugural Galileo Debit Spend Index.
Why Gen Z’s Debit Card Push is Eating Into Credit Card Profits
For people worried about the economy and dealing with affordability issues, one option could be to tuck that high interest rate credit card aside and reach for a trusty debit card instead. To uncover the latest debit card trends, CardRates recently sat down with Paul Dunning, Vice President of Business Development at Galileo Financial Technologies, a fintech firm owned by SoFi. He explained why Gen Z consumers are turning to debit cards and expecting rewards, the compelling case for debit card rewards, and the appeal of debit cards for the debit-first consumer.
Half of Consumers Have Chosen One Brand Over Another Because Paying or Getting a Refund Was Easier
Consumer demand for financial services embedded within brand apps is outpacing brands’ ability to deliver, with most executives recognizing the gap. New research from Galileo Financial Technologies, soon to become SoFi Technology Solutions, found that 80% of brand executives say they plan to launch integrated financial services, but only 20% have done so thus far. The 2026 Galileo Integrated Financial Services Research Report, based on surveys of more than 2,000 U.S. consumers and 150 senior executives, shows that while consumers are already using features like saved cards, rewards, and instant refunds inside brand apps, most brands have yet to launch these capabilities.
Brand Executives Fear They’re Losing Customers to Rivals With In-App Financial Tools, Galileo Research Finds
Half of consumers have chosen one brand over another because paying or getting a refund was easier
Introducing SoFi Tech Solutions: A Unified Brand Built to Power End-to-End Financial Innovation
We’re evolving from Galileo to SoFi Tech Solutions to reflect the full scope of our platform. We deliver end-to-end infrastructure for fintechs, brands, and financial institutions, now backed by SoFi’s scale and resources. Our mission stays the same: support our clients’ growth while maintaining platform neutrality and strong data protections.
