SoFi’s technology platform, Galileo Financial Technologies, has become part of the Amazon Web Services (AWS) Partner Network to expand access to its payment processing services.
This move enables businesses in various sectors to utilize Galileo’s platform on AWS and develop, launch, and scale innovative financial solutions. As a new member of the APN, Galileo joins over 130,000 partners from more than 200 countries working with AWS to enhance offerings, address technical challenges, secure deals, and provide superior experiences for mutual customers.
Facilitating financial services networks
Galileo will offer its payment platform to businesses seeking modern financial solutions such as embedded payments and digital banking. As companies increasingly require flexible financial infrastructure to develop and market products, this partnership is aimed at providing a quicker and more straightforward way for organizations to access fintech services. It brings new solutions to customers while improving their overall experience.
Driven by advancements in the financial sector, Galileo supports millions of active accounts across North and Latin America. Its secure API-based platform manages various operations including card issuance, real-time transactions, fraud prevention, and embedded payment features.
Context of recent AWS issues
This partnership follows an AWS outage that disrupted global applications and services earlier. Outage details indicated that multiple services experienced error rates and latency problems, affecting platforms such as Fortnite, Snapchat, Perplexity, Coinbase, Robinhood, several UK banks and government websites, and even Amazon’s own services like its shopping site, Prime Video, and Alexa.
AI startup Perplexity, crypto exchange Coinbase, and trading app Robinhood cited AWS as the source of their service interruptions. The outage impacted a wide range of financial services including PayPal’s Venmo and Chime, while ride-hailing rival Lyft reported outages affecting thousands of users in the US, and UK users of Lloyds Bank, Bank of Scotland, Vodafone, and BT faced connectivity issues.
