US-based fintech company Galileo Financial Technologies has offered its Galileo Payment Risk Platform to the entire financial services ecosystem. Following this announcement, the holistic fraud engine will deliver its real-time payment risk mitigation controls to companies outside Galileo’s ecosystem.

Firms and businesses that are not currently in the company’s processing ecosystem will be enabled to reduce fraud losses and minimise overall payment risks by integrating Galileo’s fraud APIs. This will give them the possibility to implement multi-channel, adjustable risk assessments and controls, all based on a broad and detailed variety of levers that are available during the real-time transactional decision-making process. At the same time, Galileo’s services will enable companies to offer custom-tailored risk controls that are based on client risk appetite, as well as to leverage advanced data elements that are embedded into rules and machine learning-based models.

Moreover, firms will be able to use network risk checks and assessments for the fraud decisioning process. The Galileo Payment Risk Platform will provide companies with the possibility to deploy anti-fraud strategies in order to respond to new threads and improve the overall customer experience. Galileo Financial Technologies’ recent partnerships and developments As a subsidiary of SoFi Technologies, Galileo Financial Technologies currently operates in NA and LATAM, working with multiple financial institutions, fintechs, and companies, emerging and established brands in order to develop new financial offerings.

The enterprise had multiple collaborations and product releases in the last couple of months, covering several different geographic areas around the world. In October 2023, the fintech launched its Corporate Credit service in order to improve the expense management processes of businesses. The new solution was designed to simplify managing employee charge cards and the individual credit limits by introducing a central account with a single credit limit for fintechs, businesses, as well as non-financial brands.

Throughout this launch, Galileo aimed to facilitate a streamlined billing cycle and enable corporate-level repayments to clients. Furthermore, the solution focused on improving the B2B expense management of companies by simplifying the tracking and administration of multiple employee charge cards. This provided real-time visibility into available credit across all connected cards, as well as offered one single repayment at the funding account level.

The process took place at the end of the billing end period. Earlier in the same month, Galileo obtained a multi-market Mastercard certification, which enabled it to provide services and solutions in five new LATAM countries. According to the press release published at the time, Galileo was given the opportunity to deliver products simultaneously in Argentina, Brazil, Chile, Peru, and Uruguay.

This expansion was set to develop improved conditions for issuers, financial institutions, and fintechs to provide issuer processing tools (including virtual and physical credit, as well as debit and prepaid cards). .