Payments technology provider Central Payments has announced its partnership with US-based Galileo Financial Technologies for a long-term processing services renewal. Following the collaboration, the companies will ensure that programs delivered through Open *CP will be able to leverage robust and scalable processing capabilities for embedded finance and financial institutions.

Currently, Open *CP is used by multiple enterprise companies to power their large-scale programs which were used for the launch of their financial solutions and tools. Galileo will provide its API approach and effective platform in order to allow customers to build financial products that will meet the expectations, needs, and preferences of their users. Galileo’s strategy of development Galileo Financial Technologies is a financial technology company that offers its customers the possibility to design customisable services in order to deliver a better client experience.

The firm provides its open APIs tools (a simple, secure, flexible, and fully integrated platform) to fintechs, financial institutions, emerging and established brands, and businesses. The company also offers services for issuing physical and virtual payment cards, tailored and differentiated products, as well as mobile push provisioning across multiple industries, markets, and geographies. In March of 2023, Galileo announced the launch of its Cyberbank Konecta, a new product that aimed to enable companies to create intelligent digital experiences in an efficient and secure way.

Cyberbank Konecta represents a conversational AI engine that was designed to provide digital assistant (IDA) for banks, financial institutions, non-financial brands, fintechs, and credit unions. Following this launch, the platform was set to leverage Galileo’s secure conversational banking products and solutions in order to offer clients a personalised set of tools for every step of their development process. This was made to work across any digital channel and with given access to many industries.

Financial institutions were also able to use the artificial intelligence tool to allow customers to connect with their money by focusing on their needs, plans, and preferences. While using the tailored and safe suite of financial tools, users were given the capability to access their funds when and how they wanted. Galileo was mentioned in one of the `Voice of the Industry` articles, published by The Paypers as well.

Launched in February 2023, the article focused on the most important partnerships that defined and built resilience across the payments and commerce scape in Q4 2022, from optimising ecommerce infrastructure to specific BNPL use-cases, travel payments, as well as the surge of Tap to Pay tech. The US-based fintech appeared in the article because of the announcement that its API-enabled platform will power the Pomelo ‘Remit Now, Pay Later` credit card, in order to extend financial access to families in the region. .