Galileo and Save® Partner to Process $7 Billion in Transactions and Funds
Save selects Galileo’s industry-leading API-based platform, already used by world-leading fintechs
Save and Galileo announced a partnership agreement to use Galileo’s powerful and customizable API-based payments processing platform to process transactions and funding of Save customers’ Debit Invest debit cards and Save Market Savings accounts.
Save, a fintech startup that enables higher yields on savings and checking accounts, and Galileo, the API standard for card issuing and digital banking, expect to process more than $7 billion of customer transactions in the first three years. Save joins other prominent fintech companies on Galileo’s roster of clients, including Chime, Greenlight, MoneyLion, Monzo, Revolut, SoFi, TransferWise and others.
“Galileo has won a well-deserved reputation as a leading force for innovation, seamless execution and tech-driven efficiency in financial services, making it easier for fintech companies to work with banks and add value for customers,” said Michael Nelskyla, CEO of Save. “Our relationship with Galileo builds a robust regulatory framework for safe processing of customer deposits and debit card transactions. Our customers can feel comfortable and confident that their money is secure while their Save accounts are being opened, during transfers between banks and with every transaction on their Debit Invest card.”
“Customers globally are shifting to digital banking as they look for innovative financial solutions that might not be offered by traditional banks, and we see Save as a significant addition to the Galileo roster of clients,” added Galileo CEO Clay Wilkes. “Save has big, ambitious goals to help people earn higher yields on their savings while still getting the safety of FDIC-insured deposits. Every transaction that Galileo helps Save process furthers the mission of giving customers more value from their bank accounts.”