Galileo’s Technology Powers H&R Block’s New Mobile Banking App, Spruce | News

SALT LAKE CITY – (BUSINESS WIRE) – February 15, 2022–

Galileo Financial Technologies, a leading financial technology company owned and operated independently by SoFi Technologies, Inc. (NASDAQ: SOFI), today announced that its API-enabled financial technology provides Spruce ℠, a mobile banking platform 1 created by H&R Block (NYSE: HRB), which was launched on January 20, 2022. Spruce includes an expense account with a debit card, a connected savings account that allows you to meet specific budget goals, the availability of early pay and overdraft protection – all easily provided by the Galileo Awards. platform.

Spruce has entered the market at a time when consumers from different demographics are making more digital banking decisions. In fact, 44% of consumers in the U.S. use only digital banks as their primary or secondary account, while 61% of consumers say they are more or less likely to switch to only digital banking as their primary provider, a Galileo study shows.

“Consumers are enjoying digital financial services at an unprecedented rate,” said Derek White, CEO of Galileo Financial Technologies. “As a trusted brand based on more than sixty years of experience in money management, H&R Block recognizes this change in the way consumers interact with money and created Spruce to meet consumers where they are and increase affordability and stability for all.”

Galileo’s cloud financial technology platform is built to flexibility, speed and scale, allowing new and well-known brands to launch innovative financial services that can adapt to the needs of emerging customers.

“Our ultimate goal at H&R Block is to help customers have financial confidence. We want them to be able to easily, quickly and securely access, deposit, transfer and grow their money through Spruce, ”said Les Whiteing, Financial Services Director at H&R Block. “When looking for a partner to help us launch and scale Spruce, Galileo became the right choice thanks to its long history of supporting the world’s most innovative digital banks and financial services providers. We are excited to continue our collaboration with Galileo as we expand Spruce. ”

For more information on the Galileo platform and powerful APIs, visit galileo-ft.com.

About H&R Block

H&R Block, Inc. (NYSE: HRB) helps and inspires trust in its customers and communities across the world through global tax preparation services, financial products and solutions for small businesses. The company combines digital innovation with human experience and care as it helps people get the best results during taxes as well as make better use of money using its Spruce mobile banking app. Through Block Advisors and Wave, the company helps small business owners thrive on innovative products such as Wave Money, a banking and accounting solution for small businesses, and a single business bank account for automatic accounting management. For more information, visit H&R Block News or follow @HRBlockNews on Twitter.

About Galileo Financial Technologies

Galileo is a leading company in financial technology, and its platform, open API technology and proven expertise allow fintechnologists, new and well-known brands to create differentiated financial solutions that expand financial boundaries. Galileo removes the complexity of payments and financial services innovation by providing flexible, open API building blocks and a secure, scalable, secure future platform. Trusted by both digital banking heavyweights, early-stage innovators and corporate customers, Galileo supports the issuance of physical and virtual payment cards, mobile push-ups and more in a variety of industries and regions. Galileo, headquartered in Salt Lake City, has offices in Mexico City, New York, San Francisco and Seattle.

——————————————————————————————

1Spuce is a financial technology platform created by H&R Block, which is not a bank. Spruce SM expense and savings accounts are created at, and the Spruce debit card is issued to MetaBank®, NA, an FDIC member, under a Mastercard International Incorporated license. Mastercard ® and Circle Design are registered trademarks of Mastercard International Incorporated.

See the original version at businesswire.com: https://www.businesswire.com/news/home/20220215005357/en/

CONTACT: Media

Erin Napp

Material communications for Galileo Financial Technologies

galileo@matternow.com

KEYWORD: UTA, UNITED STATES OF SOUTH AMERICA

INDUSTRY KEYWORD: TECHNOLOGY MOBILE / WIRELESS FINANCIAL FINANCIALS BANKING ACCOUNTING ACCOUNTING PROFESSIONAL SERVICES SERVICES ENGINEERING

SOURCE: Galileo Financial Technologies

Copyright Business Wire 2022.

PUB: 15.02.2022 09: 00 / DISK: 15.02.2022 09:02

http://www.businesswire.com/news/home/20220215005357/be

Copyright Business Wire 2022.

.

Leave a Comment