SoFi Bank’s relationship with Galileo
strengthens Mesh Payments’ drive to reduce inefficiencies and
accelerate the development of new products
Mesh Payments, an innovator in global travel and expense
management, has joined forces with SoFi Bank as its sponsor bank
and with Galileo Financial Technologies, a leading financial
technology company owned by SoFi Technologies, Inc. (NASDAQ: SOFI)
as its longtime payments processor.
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This partnership integrates Mesh Payments’ next-generation
expense and card infrastructure with SoFi Bank’s scalable financial
framework and Galileo’s modern, customizable API-based payments
processing platform. By uniting these capabilities within a single
ecosystem, Mesh Payments is positioned to streamline enterprise
expense management, reduce inefficiencies and deliver innovative
solutions to its clients more quickly.
SoFi Bank’s selection as Mesh Payments’ sponsor bank underscores
its emerging capabilities in commercial payments services. As one
of the few sponsor banks to offer an integrated approach, SoFi
Bank’s relationship with Galileo eliminates inefficiencies that
typically arise when fintechs rely on separate providers for
banking and payments infrastructure.
“We’re excited to partner with SoFi and Galileo, as both
companies share our vision of delivering the most modern and
innovative financial solutions for businesses,” said Oded Zehavi,
CEO of Mesh Payments. “They are the ideal partners to support our
mission to provide companies with an efficient, forward-thinking
approach to corporate travel and expense management.”
Key Benefits of the Partnership:
- Accelerated Product Development – SoFi Bank’s sponsor
program is built on Galileo’s powerful tech platform, eliminating
traditional inefficiencies between separate providers, enabling
faster delivery of enhanced features and services.
- Regulatory Expertise – Galileo, a subsidiary of SoFi
operating under federal banking regulations, ensures enterprises
benefit from solutions that align with strict compliance standards,
providing confidence in secure and reliable financial
operations.
- Operational Efficiency – With real-time data,
automation, and centralized visibility into spending, enterprises
benefit from improved compliance and reduced delays.
“SoFi is proud to provide the financial backbone for
forward-thinking solutions like Mesh Payments,” said Paul Mayer,
President, SoFi Bank. “With SoFi and Galileo under one roof, we
empower partners like Mesh Payments to harness Galileo’s advanced
cloud-based banking core, enabling them to launch new products
faster, scale seamlessly, and stay ahead of their customers'
ever-changing needs.”
Supporting leading midmarket businesses and enterprises, and
processing more than $1 billion in annual payment volume, Mesh
Payments empowers businesses with a comprehensive platform that
integrates virtual and physical corporate cards, automated expense
tracking, and travel management. By offering centralized visibility
and automating processes, Mesh helps enterprises reduce delays,
minimize errors and maintain compliance, ensuring seamless
financial operations across teams.
About Mesh
Mesh is the leading all-in-one travel and expense management
platform for global enterprises. Mesh integrates corporate cards,
expense management, and travel bookings on a single platform,
streamlining the entire T&E lifecycle from request to
reconciliation. With AI-powered automation, customizable policies,
and multi-currency support, Mesh simplifies global spending across
multiple entities, reduces costs, and ensures compliance. Today
leading private and public enterprise customers, including Fortune
100 household brands and leading multinational tech providers,
leverage Mesh to optimize their financial operations. Recognized by
CNBC and Statista as one of the world's top fintech companies of
2024, Mesh sets the standard for innovative T&E management
solutions.
For more information, visit meshpayments.com or follow us on
LinkedIn.
About SoFi
SoFi (NASDAQ: SOFI) is a member-centric, one-stop shop for
digital financial services on a mission to help people achieve
financial independence to realize their ambitions. The company’s
full suite of financial products and services helps its nearly 8.8
million SoFi members borrow, save, spend, invest, and protect their
money better by giving them fast access to the tools they need to
get their money right, all in one app. SoFi also equips members
with the resources they need to get ahead – like credentialed
financial planners, exclusive experiences and events, and a
thriving community – on their path to financial independence.
SoFi innovates across three business segments: Lending,
Financial Services – which includes SoFi Checking and Savings, SoFi
Invest, SoFi Credit Card, SoFi Protect, and SoFi Insights – and
Technology Platform, which offers the only end-to-end vertically
integrated financial technology stack. SoFi Bank, N.A., an
affiliate of SoFi, is a nationally chartered bank, regulated by the
OCC and FDIC and SoFi is a bank holding company regulated by the
Federal Reserve. The company is also the naming rights partner of
SoFi Stadium, home of the Los Angeles Chargers and the Los Angeles
Rams. For more information, visit https://www.sofi.com or download
our iOS and Android apps.
©2024 SoFi Technologies, Inc. All rights reserved.
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.
©2024 Galileo Financial Technologies, LLC. All rights
reserved.
Galileo Financial Technologies, LLC is a technology company, not
a bank. Galileo partners with many issuing banks to provide banking
services in North and South America.
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version on businesswire.com: https://www.businesswire.com/news/home/20241212627250/en/
MEDIA CONTACT: For Mesh Payments Joe Gerace
Joe.gerace@archiegroup.com
For Galileo Katie Boyless 404-791-8245
katie@fletchergroupllc.com
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