Galileo Introduces GIVE And GScore To Enhance Real-Time Fraud Prevention

REPORT

• The Payment Orchestration is a new rising Industry in the payments ecosystem, with expected value of over $???? ?????????????? by 2026.

?? NEWS HIGHLIGHT

• Galileo introduces GIVE and GScore to enhance real-time fraud prevention.

Galileo Financial Technologies, a subsidiary of SoFi Technologies, has introduced Galileo Instant Verification Engine (GIVE) and Transaction Risk GScore, coming as a response to the increasing need for advanced security measures in financial transactions.

With 63% of financial firms reporting a rise in fraud, especially through digital channels which account for half of the fraud losses, these tools are designed to meet the urgent demand for efficient fraud detection and management.

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?? PODCAST

David Weisburd interviewed Steve McLaughlin Founder and CEO at Financial Technology Partners / FT Partners on how FT Partners consistently competes with and beats bulge bracket banks.

They discuss FT Partner’s secret sauce why their companies outperform the competition and how every company can apply these principles to improve their fundraising and M&A activities.

If there is anything you listed today, let it be this podcast :

NOW, ON TO THE SUMMARY OF LAST WEEK'S?NEWS

???? NATIONAL HIGHLIGHTS

?? Stripe has a tough time keeping tabs on customers and that’s a worry for some of its banks.

?? Klarna partners with UATP to tap the $1 trillion air travel industry .

?? Zelis Launches Solution for Out-of-Network Health Bill Payments .

?? Adyen’s Intelligent Payment Routing Achieves 26% Cost Savings and Improves Payment Performance on US Debit Transactions .

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FINTECH

PayPal is launching ???????????? ????????????????????, a rewards program for consumers on the PayPal Debit Mastercard. The program includes stackable cash-back offers and personalized ways to manage spending. It enables PayPal Debit cardholders to receive 5% cash back on up to $1,000 in selected category spend per month.?

PAYMENTS

IRS clears final hurdle in $2B epayment tech award. The IRS now appears able to move forward with a $2 billion electronic payment system contract, now that the final protest has been withdrawn. ACI Payments and Link2Gov Corp. won the Epayment Card Services contract in August 2023 , but it was quickly followed by protests from NIC Federal and Value Payment Systems.

Ryan Breslow’s $450M Bolt deal said to involve a restraining order now. Breslow’s plan to get himself reinstalled as CEO of FinTech company Bolt has apparently stalled. According to Forbes, Breslow sent an email to shareholders thanking them for signing off on the deal. Find out more

Affirm to profit soon from Buy Now, Pay Later. Lower interest rates and growing volume will be tailwinds. Affirm has been able to adjust its pricing to merchants and consumers to levels that have accommodated higher transaction costs. Read on

PayPal partners with Shopify to power a portion of Shopify Payments in the U.S. PayPal will become an additional online credit and debit card processor for Shopify Payments through PayPal Complete Payments, a solution for marketplaces and platforms comprised of flexible and powerful developer tools.

68% of businesses plan to add Instant Payments within 2 years. Instant payments promise a more agile financial ecosystem , but the shift from traditional methods to systems like FedNow? and RTP? faces challenges despite widespread enthusiasm.

Cogitate partners with One Inc to enhance digital payments for insurers. The partnership focuses on addressing the growing complexity of digital insurance payments, driven by economic changes and the increasing digitisation of the industry. Access the full article

DIGITAL BANKING

MidwestOne Bank streamlines customer onboarding with Temenos. This strategic move enables MidWestOne to enhance customer acquisition and retention through digital channels on a resilient, scalable platform. Read full article

Webull launched what they call a Global Account for their customers in Brazil. With Global Account, Webull unlocks a complete rewards program for customers based in Brazil by enabling them to open a US bank account and then spend in US dollars and/or in BRL in Brazil.

CRYPTO

Mastercard has announced the launch of a new crypto debit card in Europe through a partnership with Mercuryo . This innovative card allows users to spend over 40 different cryptocurrencies directly from their self-custodial wallets at more than 100 million merchants across the continent.?

DONEDEAL

Monda raises $5M seed round to help companies monetize data and fuel AI. The capital will be used to expand operations in the US, grow its partner ecosystem , and enhance its platform to make data monetization easier for companies of all sizes.

Oyster has successfully raised $59M in Series D funding, with participation from existing investors. The company is still deeply committed to its mission of helping companies everywhere hire people anywhere so they can confidently grow their teams across borders.?

M&As

GTreasury acquires CashAnalytics, an advanced cash forecasting solution. The acquisition of CashAnalytics strengthens GTreasury’s offerings by providing a rapid, seamless treasury automation solution that integrates smoothly with their Digital Treasury Solutions.?

MOVERS & SHAKERS

PayQuicker strengthens client and partner excellence with strategic appointment of Nathan England. He will be responsible for identifying and fostering strategic partnerships and providing industry-proven customer excellence support solutions to PayQuicker’s new and existing global client base.