U.S. fintech Galileo announced on Thursday it has integrated with Plaid for ACH transfer setup. Galileo reported with this integration, joint clients of both platforms may offer their customers an easy way to connect their bank accounts and initiate ACH transfers.
“With connections to more than 11,000 financial institutions, Plaid enables fintechs and app providers to seamlessly access consumer-permissioned data needed to deliver financial products and services. With this latest platform integration, Galileo clients can enable their customers to conveniently authorize the transaction that initiates an ACH transfer.”
The integration’s benefits to Galileo clients include:
- Easier integration: Clients must still integrate with both Galileo and Plaid, but the Plaid integration is simplified tremendously
- Safer: Only tokens are passed between Plaid, the app, and Galileo, so no customer data is exposed
- Simpler: Clients avoid having to do their own ID and balance checks, and retaining sensitive customer data on their systems
Speaking about the integration, Clay Wilkes, Galileo CEO, added:
“Our new integration with Plaid supports our mission to remove the complexities of payment processing, so our clients can focus on innovation and the customer experience. Leveraging Plaid’s technology, we’re excited to offer a simplified process for our clients and minimize ongoing requirements to initiate ACH transfers.”
Founded in 2000, Galileo claims it has grown to become one of the latest payment processors and program managers in North America. It also says it is the only payments innovator that applies tech and engineering capabilities to empower fintechs and financial institutions to unleash their full creativity to achieve their financial goals.