Galileo Expands Partnership with The Bancorp To Deliver Real-Time Payments By CIOTechOutlook Team

Galileo Expands Partnership with The Bancorp To Deliver Real-Time Payments

CIOTechOutlook Team | Tuesday, 05 March 2024, 06:09 IST

Galileo Financial Technologies declared a development of its relationship with The Bancorp Bank, NA, that empowers real-time payments offerings. Utilizing the RTP® network from The Clearing House, Galileo and The Bancorp are conveying moment cash development between ledgers, empowering fintechs and brands to address the longstanding income challenges looked by small businesses (SMBs) and consumers seeking to get quick admittance to their money.

Real-time payment are accessible any season of day, all year, guaranteeing the moment accessibility of assets in any event, when conventional strategies, such a ACH and wires are inaccessible. In Q3 2023, exchange volume and worth over the RTP network hit a record high of 64 million exchanges at $34 billion, as per The Clearing House.

Organizations can offer ongoing installments to their customers through Galileo and The Bancorp. This organization smoothes out the interaction for Galileo's clients to all the more effectively carry out moment installments by means of the RTP network without developing complex frameworks from the beginning.

"Consumers and businesses expect payments to be available instantly, and offering real-time payment capabilities ensures Galileo’s clients can deliver on that expectation," said David Feuer, Chief Product Officer of Galileo Financial Technologies. "With this integration between The Bancorp and Galileo, we can offer a swift, efficient way to ensure faster money movement today."

The financial technology organization claimed and worked freely by SoFi Technologies, Inc. that empowers fintechs, monetary foundations, and arising and laid out brands to assemble separated financial solutions that convey remarkable, client driven encounters.