Galileo Instant took home the prize as best new product in the Tearsheet Challenger Awards. The announcement was made on Thursday, Sept. 24 during a virtual awards ceremony that concluded the Tearsheet Challenger Conference.
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The Challenger Awards are the financial industry’s top recognition program focusing on digital banking, and they celebrate incumbents and startups.
Galileo Instant Managing Director Cole Wilkes accepted the award on behalf of Galileo, thanking Tearsheet Co-CEOs Zack Miller and Aaron Singer, and the awards judges for recognizing Instant’s new way of thinking about card issuing; that is, removing the complexity, so virtually any qualified company—in or outside of financial services—can create its own debit cards to handle 1099, independent contractor and wage payouts; make payments and reimbursements; or create innovative financial solutions for specific audiences.
“We’re solving an unmet need in the market by creating a simple way for any kind of business to create debit cards,” Wilkes explained. “We’ve improved on the significant time and money investment previously required to implement debit card programs, especially for businesses that just want a payout option and startups that need a proof of concept.”
Miller remarked that Tearsheet Challenger Awards judges were impressed by Instant’s simplified and accelerated process and Singer added, “Remarkable!”
