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. as its longtime payments processor.
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. “They are the ideal partners to support our mission to provide companies with an efficient, forward-thinking approach to corporate travel and expense management.”
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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. “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.
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Source – Businesswire
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