Galileo Launches Customizable BNPL Solution for Banks and Fintechs

On December 6, 2022, Galileo Financial Technologies announced the launch of a customizable buy now, pay later (BNPL) solution designed for banks and fintechs. The product allows financial institutions to offer BNPL loans through bank partners, with Galileo managing loan servicing, virtual card issuance, and underwriting integration. As a subsidiary of SoFi, Galileo's platform already powers accounts and payments for numerous fintechs, and the BNPL addition deepens its embedded lending capabilities.

The solution is designed to let clients white-label the BNPL experience, tailoring it to their customer base. Financial terms of the launch were not disclosed. The move positions Galileo to compete more directly in the rapidly growing BNPL segment against providers like Marqeta and other BaaS platforms offering lending infrastructure.