The Galileo Financial Technologies Podcast Galileo Financial Technologies

This exclusive fireside chat with PYMNTS delves into the innovative features and the transformative potential of our latest offering. Discover how we're setting new standards in financial technology by enabling more accessible and manageable payment options for consumers. Watch now to learn about the strategic vision behind this launch and how it positions Galileo at the forefront of the fintech revolution.

In today’s digital landscape, AI and machine learning-based fraud prevention technologies stand as essential allies for banks and fintech companies. By actively identifying and thwarting fraudulent activities, these advanced systems not only save significant costs incurred from fraud losses but also shield the reputation of financial entities from potential harm. And their proactive approach not only bolsters security but also instills confidence among customers, ensuring a resilient and trusted financial ecosystem.

The fintech industry is at an inflection point. We explore the future of fintech through the lens of Galileo’s VP of Revenue, Scott Johnson. We unpack real world use cases, discuss product launches, and share strategies for this rapidly evolving market.

In the final episode of our three-part series, we tackle what you need to do after your card is launched, detailing the key support steps you must take to promote and grow your nascent program. From choosing a rollout format, to designing a marketing campaign to incorporating customer feedback, these efforts are key to ensuring a new card product’s long-term success, so we’ve rounded up some expert advice to help guide your strategy. 

Launching a successful card program involves a strategic approach to selecting the right partners, and this podcast series provides valuable insights into ensuring a fruitful collaboration. Here are key takeaways to help ensure you work with the right partners for a card program launch:
Long-Term Vision and Commitment:
Approach partner selection with a long-term mindset, akin to a marriage. Contracts often span three to five years, making it crucial to choose partners who align with your organization's future goals. Vet potential partners for cultural fit, product breadth, and cost considerations. This diligence upfront can prevent challenges down the road and contribute to a successful, enduring partnership. Experience and Understanding:
Prioritize partners with experience in the specific use case relevant to your card program. Understanding your partner's experience upfront ensures they can support your needs from technical and compliance perspectives. Collaborate with banks and processors that are willing to work closely with you, comprehending your unique requirements and offering ongoing support. Avoid surprises by thoroughly vetting potential partners before committing to a collaboration. Efficiency and Speed to Market:
Leverage partners with existing integrations and relationships in the industry. This can significantly accelerate your program's speed to market, providing a plug-and-play solution with reduced integration times. Consider working with established technology and processing platforms, like Galileo, that have pre-existing relationships with numerous banks. This can streamline the launch process and minimize the time required for integration. Holistic Planning and Education:
Take a holistic approach to partner selection by considering the entire ecosystem involved in your card program, including banks, emboss and fulfillment vendors, processors, and other third parties. Engage in a collaborative selection process with potential partners, ensuring alignment between your goals and their capabilities. Use education and support from experienced partners, like Galileo, to enhance your understanding of the industry and program requirements. Clear Technical Requirements and Communication:
Clearly define technical requirements upfront to avoid complications during the launch phase. Collaborate with partners who can support your specific technical, compliance, and operational needs. Communicate openly and transparently with potential partners, ensuring a shared understanding of program expectations, responsibilities, and potential challenges. Learn more at https://www.galileo-ft.com/lp/the-path-to-card-launching-with-galileo-and-tearsheet-studios/

Launching a card is a fundamental aspect of today's financial services landscape, serving as a cornerstone product for both incumbents and fintech companies. Despite the availability of new technology platforms, banking-as-a-service models, and experienced program managers, there remains a notable gap in understanding the intricacies of launching and managing a card effectively.
In an effort to shed light on this process and make it more accessible, we've gathered insights from leading fintech and financial services firms with extensive experience in launching and scaling card products. Our contributors include industry giants like Wise and Dave, as well as prominent platforms and banks such as Cross River Bank and First National Bank of Omaha.
Special recognition goes to Galileo, the technology and processing platform powering cards for many of today's popular fintechs. We extend our gratitude for their steadfast support throughout this project.
This podcast mini-series aims to guide you through the intricacies of launching a card successfully. Throughout our conversations with industry leaders, a common theme emerges – the importance of thorough planning. While perfection may not be achieved on the first attempt, strategic planning provides a clear path forward. Our goal is to equip you with insights from seasoned professionals who have launched cards used by millions, sharing both their challenges and triumphs.
This first installment of a three-part series focuses on the planning phase of ideating, creating, and launching a card. Topics covered include:
Introduction to the significance of launching and managing cards in financial services. The imperative need for understanding the card launching process and fostering collaborations with partners. Planning and the underlying motivations for launching a card, with a focus on solving customer problems. Diverse approaches to launching cards, whether as strategic differentiators or complementary add-ons. Case studies featuring insights from Wise, Bluevine, Dave, and the motivations behind their card launches. Understanding the distinctions between debit and credit cards and their implications. Forward-looking strategies for the evolution of card programs and ecosystems. Emphasizing the importance of testing, avoiding rushed market entries, and continuous iteration. The role of a value proposition in aligning with a company's mission. Achieving differentiation through card-related features that address customer needs. For a more in-depth exploration, we encourage you to download our comprehensive guide, incorporating insider information and more, available at https://www.galileo-ft.com/lp/the-path-to-card-launching-with-galileo-and-tearsheet-studios/.
Stay tuned for the upcoming parts of this series, delving deeper into the nuances of successfully launching and managing card products.