In an interview with The Fintech Times for its special Money20/20 edition, Galileo CEO Derek White explains how Galileo empowers creators and innovators to expand the financial frontier.
Helping people connect to their money has always been a passion for Galileo Financial Technologies CEO Derek White. In fact, it’s one of the reasons he took the helm of the Salt Lake City-based payments and fintech innovator in June 2021.
“My first real interaction with money was from the first business I started as a kid. My father was unemployed, and I handed over my paycheck as the only income for our family outside of unemployment," White says. “That was a pretty sobering experience. It had a huge impact on me and has been a big driver in my career and why I’ve focused on how to better connect people with their money."
As a veteran of global banking and ex-head of Google Cloud's financial services business, White brings an international perspective to his new role as well as an eagerness to help entrepreneurs and innovators build financial experiences that connect people and their money in unique and powerful new ways.
Galileo's platform and comprehensive, flexible APIs power some of the world's most successful fintechs with combined valuations exceeding $111 billion. Clients use the company's open APIs for everything from digital onboarding of new customers to restricting spend down to the individual merchant location level.
BUILDING THE FUTURE
Making dreams into reality is Galileo's speciality, with a platform that enables creators and, indeed, dreamers, to translate their ideas into sustainable businesses that solve problems and meet the evolving needs of consumers and businesses alike. “Galileo is for innovators who want to expand the financial frontier and build a better financial future for underserved populations or people who identify with a specific cause, or who want to embed financial services into their broader customer experience,” says White.
The platform offers a single connection to more than 55 endpoints of the financial services ecosystem—to networks, issuing banks, KYC providers, mobile wallets and more. By removing the complexity and lowering barriers to entry, Galileo lets these financial innovators build businesses that fulfill their mission and engage their customers in meaningful ways.
Read the entire issue.
Product Uptake and Interest from FIs Powers Strong Q3
SoFi’s technology platform, which comprises Galileo Financial Technologies and the Technisys cloud-based core banking services platform, saw net revenue and total enabled accounts maintain growth during the third quarter of 2023.
Galileo Payment Risk Platform Now Available to the Entire Financial Services Ecosystem
Companies outside of Galileo’s ecosystem can now leverage the proactive risk-scoring fraud engine and reduce payment and payment-related fraud.
Introducing Corporate Credit for B2B Expense Management
Galileo Corporate Credit solution consolidates credit limits to deliver better spend visibility, and remove accounting complexities.
Galileo First to Attain Multi-market Mastercard Certification in Latin America
Galileo announces Mastercard certification in five new Latin American countries, further solidifying commitment to accelerate digital transformation across region.
Galileo Expands Buy Now, Pay Later Offering to Help Lenders Reach SMBs
Banks and fintechs working with Galileo can now provide responsible, intelligent installment financing options for SMBs seeking more flexibility for big purchases.
