In a wide-ranging interview with Fintech Finance during this year’s Paris Fintech Forum, Galileo SVP Scott Johnson acknowledged that in recent years the U.S. has lagged European counterparts in adopting new payment technology, citing the relatively recent introduction of EMV and the slow roll out of real-time payments as prime examples.
Still, Johnson said, Galileo has experienced unbelievable growth as fintech has evolved rapidly not only in the U.S. but also in the UK and Europe. He credited Galileo’s rapid growth to its infrastructure—specifically its open APIs and platform, which power leading U.S. neobanks and the U.S. operations of Monzo and TransferWise.
He added, “As an infrastructure payments company, we see the value in our company through our partners and their growth.”
Johnson noted that as you look at the Americas—not only the U.S.—he appreciates how fast payments are evolving, pointing to rapid adoption of financial inclusion and new payments mechanisms. He’s impressed with the number of fintech startups in Latin America—particularly Mexico—where Galileo opened an office last month, and the fintech investment pouring into Latin America.
Johnson concluded saying his favorite takeaway from the Paris Fintech Forum was meeting with Galileo’s many U.K.- and Europe-based partners and learning more about what they’re doing.
“The Paris Fintech Forum is a great conference to get all the different ideas that are coming together,” he said. “And, it’s a pleasure to see how many U.S. companies are coming here and vice versa—how many European companies are coming to the U.S.”
He added that he appreciates seeing the innovation in U.K. and Europe because—like the Beatles more than 50 years ago—we’re now being influenced by that innovation in the U.S.
Driving Inclusion and Innovation Through Digital Payments in Latin America
Latin American fintechs are driving a digital payment revolution through mobile wallets and real-time transfers, transforming financial inclusion across the region.
Unlocking Loyalty Through Galileo's New Co-Branded Debit Rewards Program
Galileo's new debit rewards program helps brands reach 46 million underserved Americans through innovative financial loyalty solutions.
A Bank’s Guide to Measuring ROI for BaaS in Latin America
Discover how Banking as a Service drives Latin American financial growth with strategic ROI measurement for institutions.
What If We Hit Pause on the AI Conversation—Just for a Moment?
Latin American banks must embrace composable banking to modernize core systems and compete with digital-native financial services providers.
Modern Banking Must Move at the Speed of the Customer
Transform your bank with real-time solutions that meet modern customers' expectations for speed, personalization, and seamless experiences.