Galileo Payment Risk Platform Now Available to the Entire Financial Services Ecosystem
October 19 2023 - 8:00AM
Business Wire
Companies outside Galileo’s ecosystem can now
leverage proactive risk-scoring fraud engine
Galileo Financial Technologies, LLC, a leading financial
technology company independently owned and operated by SoFi
Technologies, Inc. (NASDAQ: SOFI), is now offering the Galileo
Payment Risk Platform to the entire financial services ecosystem.
This holistic fraud engine delivers real-time payment risk
mitigation controls that allow any fintech or financial brand to
proactively reduce fraud losses and minimize payment risks.
The Galileo Payment Risk Platform as a standalone solution
allows companies not currently in the Galileo processing ecosystem
to integrate Galileo’s fraud APIs to:
- Implement multi-channel, adjustable risk assessments and
controls, based on a broad variety of levers available during
real-time transactional decision-making
- Offer custom tailored risk controls based on client risk
appetite
- Utilize advanced data elements embedded into enhanced rules and
machine learning-based models, taking into account entities such as
merchants, channels, geo-locations, etc.
- Leverage network risk checks and assessments for fraud
decisioning
With the U.S. real-time payments market projected to grow at a
compound annual rate of 10.12% from 2022 to 2027, organizations
need sophisticated AI and machine learning-based tools that provide
real-time insights for companies to act on more than ever.
“In the fight against fraud, banks, fintechs and program
managers are constantly solving for two key challenges: minimizing
fraud losses and deploying anti-fraud strategies to respond to new
threats and elevate the customer experience,” said David Feuer,
Chief Product Officer at Galileo. “The Galileo Payment Risk
Platform is designed to help financial brands do both by enhancing
the availability of real-time fraud controls.”
The Galileo Payment Risk Platform was developed to seamlessly
integrate through open APIs and employ cutting-edge AI and machine
learning technology to deliver multi-layered authentication
processes, dynamic fraud decisioning and real-time insights.
Galileo's proactive approach to fraud mitigation combines the power
of industry expertise, technology, and data. The Galileo Payment
Risk Platform is designed to deliver actionable insights, derived
from more than 100 million unique spending patterns, to improve
payment fraud mitigation strategies and stop impending threats
before they happen.
For more information about the Galileo Payment Risk Platform,
please visit galileo-ft.com/products/risk-and-compliance/.
About Galileo Financial Technologies
Galileo Financial Technologies, LLC and certain of its
affiliates collectively comprise a financial technology company
owned and operated independently by SoFi Technologies, Inc.
(NASDAQ: SOFI) that enables fintechs, financial institutions, and
emerging and established brands to build differentiated financial
solutions that deliver exceptional, customer-centric experiences.
Through modern, open APIs, Galileo’s flexible, secure, scalable and
fully integrated platform drives innovation across payments and
financial services. Trusted by digital banking heavyweights,
early-stage innovators and enterprise clients alike, Galileo
supports issuing physical and virtual payment cards, mobile push
provisioning, tailored and differentiated financial products and
more, across industries and geographies.
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version on businesswire.com: https://www.businesswire.com/news/home/20231019333126/en/
Katie Boyless (404) 791-8245 katie@fletchergroupllc.com
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