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.
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.
