Galileo Selected as Finalist for ‘Best Use of Payments Data or AI in Financial Services’ in EPA’s 12th Annual Emerging Payments Awards
August 1, 2019
Galileo Clients Glint, KOHO, SMI and TransferWise Also ‘Shortlisted’ for Awards
Galileo, the payments technology company powering the world’s leading fintechs, today announced that its nomination for “Best Use of Payments Data or AI in Financial Services” was named a finalist in the 2019 Emerging Payments Awards. Galileo Fraud Protection with AI is the industry’s most accurate fraud-focused artificial intelligence application, helping clients cut card fraud losses, minimize false positives and protect customers’ trust and data. Based on Mercator Advisory Group’s 2018 U.S. Benchmark Report, Galileo’s Fraud AI detection platform beats the competition by reducing card fraud losses more than 55 percent below the industry average. In addition to being honored individually by the judging panel of independent industry experts, five Galileo partners also were shortlisted for the most prestigious awards in emerging payments, including:
KOHO for Best Financial Inclusion Payments Programme
SMI for Best B2C Payments Programme
Glint for Best B2C Payments Programme, Best Collaboration Initiative and Most Innovative Mobile or Financial Services Payments Solution
Borderless Accounts by TransferWise for Best International Payments, Remittance or Use of FX
“Being shortlisted in the Emerging Payments Awards is a high honor because the competition is fierce and there are many strong competitors,” said Galileo CEO Clay Wilkes. “Having Galileo and our clients as finalists in 9 of 19 categories is tremendous validation of the power and flexibility of our platform and APIs to empower fintechs to build creative solutions that solve the world’s toughest payments challenges.” “Galileo has gone to the top of the league from the get-go,” added Tony Craddock, director general of the Emerging Payments Association. “We set up these awards to recognize excellence in payments over a decade ago. The payments playing field is global, so the competition is tough. I’m delighted to see Galileo’s innovation and quality being recognized amongst the most rigorous awards judging process in the industry.”
The 12th annual Emerging Payments Awards will be held on October 3 at the InterContinental London O2. The event will bring together the 850+ of the most senior opinion-formers and decision-makers from 25+ countries to celebrate quality, best practice and excellence in payments.
Banks Are Asking the Wrong Questions About Core Modernization
In the early 2000s, Netflix offered Blockbuster an opportunity to integrate its online DVD rental model for $50 million. Blockbuster, bullish on its retail dominance, dismissed the offer, scoffing at the idea that digital and mail-based rentals could compete with its physical footprint. Blockbuster became a relic, while Netflix grew into a $433 billion global company.
Galileo Brings Co-Brand Debit Rewards to Hospitality Sector
Galileo is bringing its debit card rewards programme - which allows brands to offer debit users access to rewards normally reserved for credit card customers - to the US hospitality sector.
Choosing the Best Banking Option Isn’t Always Easy
Choosing the right banking option can be complex, with consumers weighing features like fees, accessibility and digital tools across traditional banks, credit unions, online banks and fintech firms.
Relationship Fragmentation is Killing Loyalty: How Should Banks Respond?
Banks have long believed that delivering core banking services inevitably leads to ownership of their customers' full financial needs. That's becoming a dangerous myth, according to a new report on emerging consumer behaviors across multiple generations.
Galileo Rolls Out Wire Transfer API for Fintechs
Galileo Financial Technologies, a leading financial technology company owned by SoFi Technologies, Inc. (NASDAQ: SOFI), today announced it is arming fintechs with wire transfer capabilities, enabling them to better serve consumers and businesses by offering another option for fast, secure money movement.
