The Galileo Financial Technologies Podcast

Facing increased competition from neo-banks and other digital native fintechs, established banks are finding themselves on the wrong side of a growing digital divide. To remain competitive, these institutions must modernize their technology–but many don’t know where to start. In this on-demand webinar discussion with The Financial Brand’s Jim Marous, Galileo Chief Product Officer David Feuer explains why banks that want to succeed on the journey to tech modernization must begin with the customer experience.

The BNPL addressable market is growing rapidly as an estimated 900 million people worldwide will use the solution by 2027. Decision makers within FIs, fintechs and businesses are racing to respond to consumer and B2B demand as new BNPL use cases emerge. BNPL is also advancing credit access and driving unprecedented growth for traditional and non-traditional financial players. But how can FI and non-FI leaders put a BNPL plan into action that creates new revenue streams while supporting responsible lending?

This exclusive fireside chat with PYMNTS delves into the innovative features and the transformative potential of our latest offering. Discover how we're setting new standards in financial technology by enabling more accessible and manageable payment options for consumers. Watch now to learn about the strategic vision behind this launch and how it positions Galileo at the forefront of the fintech revolution.

In today’s digital landscape, AI and machine learning-based fraud prevention technologies stand as essential allies for banks and fintech companies. By actively identifying and thwarting fraudulent activities, these advanced systems not only save significant costs incurred from fraud losses but also shield the reputation of financial entities from potential harm. And their proactive approach not only bolsters security but also instills confidence among customers, ensuring a resilient and trusted financial ecosystem.

The fintech industry is at an inflection point. We explore the future of fintech through the lens of Galileo’s VP of Revenue, Scott Johnson. We unpack real world use cases, discuss product launches, and share strategies for this rapidly evolving market.

In the final episode of our three-part series, we tackle what you need to do after your card is launched, detailing the key support steps you must take to promote and grow your nascent program. From choosing a rollout format, to designing a marketing campaign to incorporating customer feedback, these efforts are key to ensuring a new card product’s long-term success, so we’ve rounded up some expert advice to help guide your strategy. 

Launching a successful card program involves a strategic approach to selecting the right partners, and this podcast series provides valuable insights into ensuring a fruitful collaboration. Here are key takeaways to help ensure you work with the right partners for a card program launch: Long-Term Vision and Commitment: Approach partner selection with a long-term mindset, akin to a marriage. Contracts often span three to five years, making it crucial to choose partners who align with your organization's future goals. Vet potential partners for cultural fit, product breadth, and cost considerations. This diligence upfront can prevent challenges down the road and contribute to a successful, enduring partnership. Experience and Understanding: Prioritize partners with experience in the specific use case relevant to your card program. Understanding your partner's experience upfront ensures they can support your needs from technical and compliance perspectives. Collaborate with banks and processors that are willing to work closely with you, comprehending your unique requirements and offering ongoing support. Avoid surprises by thoroughly vetting potential partners before committing to a collaboration. Efficiency and Speed to Market: Leverage partners with existing integrations and relationships in the industry. This can significantly accelerate your program's speed to market, providing a plug-and-play solution with reduced integration times. Consider working with established technology and processing platforms, like Galileo, that have pre-existing relationships with numerous banks. This can streamline the launch process and minimize the time required for integration. Holistic Planning and Education: Take a holistic approach to partner selection by considering the entire ecosystem involved in your card program, including banks, emboss and fulfillment vendors, processors, and other third parties. Engage in a collaborative selection process with potential partners, ensuring alignment between your goals and their capabilities. Use education and support from experienced partners, like Galileo, to enhance your understanding of the industry and program requirements. Clear Technical Requirements and Communication: Clearly define technical requirements upfront to avoid complications during the launch phase. Collaborate with partners who can support your specific technical, compliance, and operational needs. Communicate openly and transparently with potential partners, ensuring a shared understanding of program expectations, responsibilities, and potential challenges. Learn more at https://www.galileo-ft.com/lp/the-path-to-card-launching-with-galileo-and-tearsheet-studios/

Launching a card is a fundamental aspect of today's financial services landscape, serving as a cornerstone product for both incumbents and fintech companies. Despite the availability of new technology platforms, banking-as-a-service models, and experienced program managers, there remains a notable gap in understanding the intricacies of launching and managing a card effectively. In an effort to shed light on this process and make it more accessible, we've gathered insights from leading fintech and financial services firms with extensive experience in launching and scaling card products. Our contributors include industry giants like Wise and Dave, as well as prominent platforms and banks such as Cross River Bank and First National Bank of Omaha. Special recognition goes to Galileo, the technology and processing platform powering cards for many of today's popular fintechs. We extend our gratitude for their steadfast support throughout this project. This podcast mini-series aims to guide you through the intricacies of launching a card successfully. Throughout our conversations with industry leaders, a common theme emerges – the importance of thorough planning. While perfection may not be achieved on the first attempt, strategic planning provides a clear path forward. Our goal is to equip you with insights from seasoned professionals who have launched cards used by millions, sharing both their challenges and triumphs. This first installment of a three-part series focuses on the planning phase of ideating, creating, and launching a card. Topics covered include: Introduction to the significance of launching and managing cards in financial services. The imperative need for understanding the card launching process and fostering collaborations with partners. Planning and the underlying motivations for launching a card, with a focus on solving customer problems. Diverse approaches to launching cards, whether as strategic differentiators or complementary add-ons. Case studies featuring insights from Wise, Bluevine, Dave, and the motivations behind their card launches. Understanding the distinctions between debit and credit cards and their implications. Forward-looking strategies for the evolution of card programs and ecosystems. Emphasizing the importance of testing, avoiding rushed market entries, and continuous iteration. The role of a value proposition in aligning with a company's mission. Achieving differentiation through card-related features that address customer needs. For a more in-depth exploration, we encourage you to download our comprehensive guide, incorporating insider information and more, available at https://www.galileo-ft.com/lp/the-path-to-card-launching-with-galileo-and-tearsheet-studios/. Stay tuned for the upcoming parts of this series, delving deeper into the nuances of successfully launching and managing card products.

To shed some light on what banks and credit unions in the Americas should do with BaaS, Dharm from the Dave & Dharm Demystify Podcast has invited two esteemed guests from Galileo Financial Technologies – Miguel Santos, chief strategy officer, and Dave Feuer, chief product officer.  Between them, Dave and Miguel give real-life examples of several innovations only made possible by a modern core. The key message is that there is no future for a monolithic core or large software suites; the future is granular banking capabilities consumed and paid for on demand.  Miguel also shared his views that, “The era of differentiation on customer experience is a thing of the past." He explains how banks can distinguish themselves by designing products that cater to specific customers, using the example of a truck business that uses embedded banking. Additionally, Dave highlights his team's extensive experience in generative AI, revealing that Galileo has been developing a processing platform based on this technology for several years.

Banking as a Service is booming. For licensed financial institutions, BaaS offers key short-term benefits such as enhanced revenue and customer acquisition, and also serves as a pathway to the long-term transformation that will be necessary to remain relevant as the financial industry evolves. Tune in to this episode to learn how banks can get in on the BaaS boom. 

Join us as we explore the transformative power of open banking APIs, which enable financial institutions to create game-changing innovations for their customers. Discover the key concepts, real-world examples, and expert insights that will empower your bank to harness the full potential of open APIs to transform how banking is done.

With payments fraud on the rise–and growing ever-more sophisticated–it’s critical for financial services providers to ensure they’re keeping up with the evolving threat. Listen in to this episode to gain an in-depth understanding of the latest fraud detection strategies and technologies and discover invaluable insights, practical tips and industry best practices to safeguard your organization from financial risks and protect your customers' assets.

In this Rise of RevOps episode, Seth McGuire, Chief Revenue Officer from Galileo discusses the importance of working cross-functionally to overcome obstacles, putting people first internally and externally, and his recipe for RevOps success.  

In this Silicon Slopes discussion, Derek shares his extensive journey that led him to the forefront of Fintech, who and what aided him in becoming the businessman he is today and his vision towards widening Utah's economic ecosystem. When it comes to creating a habitat where businesses can thrive, his advice is adding, "Four key ingredients for an effective ecosystem: human capital, financial capital, technical capital, and connectivity." . Enjoy this Silicon Slopes discussion and take advantage of the numerous tips Derek shares with those who wish to advance their entrepreneurial journey and how to share their ideas with the world.  

2023 has been dubbed “the year of the chatbot,” and banks worldwide are reaping an estimated $7.3 billion in operational cost savings by using virtual assistants. But the real opportunity goes well beyond simply trimming business expenses. In this episode, we’ll discuss how artificial intelligence tools such as machine learning, generative AI and natural language processing can help banks deliver a uniquely branded customer experience that is consistently as good as, or better than, what humans can deliver.

Payment card issuer processors play an important role in supporting the secure and efficient processing of transactions, but what exactly do they do? In this episode, we’ll delve into the primary components of issuer processing, including card management and authorization systems, clearing and settlement, and security and fraud prevention capabilities. We’ll also lay out some of the key criteria to evaluate when choosing the right issuer processor partner for your payments program.   

Banking as a Service enables any brand to augment their offerings with contextual, personalized financial services. In this episode, we’ll explore how non-bank brands can leverage BaaS to create new revenue streams, amp up customer engagement, loyalty, and lifetime value–and transform their entire value proposition by adding financial services to the customer journeys taking place across their platforms.   

One of the key ways Galileo has differentiated itself in this highly competitive market is by putting their team’s deep expertise at the core of their brand. As they say, “Financial technology begins and ends with humans” — a concept that speaks to their pivotal role as trusted guides helping innovators successfully navigate a complex and ever-changing landscape. The insights from win-loss interviews help Galileo capitalize on the potential of this role. It is only by having a deep and accurate understanding of their customers that they are able to deliver exactly what those customers need exactly when they need it.  Two of the architects behind Galileo’s win-loss program joined us on the Blindspots Podcast to share their story. Sheri Chin, CMO — Head of Marketing, and Sarah Spagnola, Senior Director — Demand Generation talked about why they launched a win-loss program, how they use win-loss insights now, and what they see for the future.  

Consumer demand for Buy Now, Pay Later is surging. Thus far, the space has been dominated by specialty providers offering BNPL via merchants–but banks have a ripe opportunity to take a more informed approach to BNPL and serve customers better. Tune in to learn why FIs are best suited to offer BNPL, and what they need to do to deliver better long-term benefits to consumers and their own organization.  

Launching a payment card program is a complex undertaking, with many variables to consider. That’s why we created a one-stop guide to walk you through the entire process, from understanding what program management entails to choosing an in-house or outsourced approach. Tune in for crucial insights on how to get started with program management, and scale and grow your payments offerings.