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Health Care : Biotechnology | Large Cap Value
Company profile

AbbVie Inc. is a research-based biopharmaceutical company, which is engaged in research and development, manufacturing, commercialization and sale of medicines and therapies. It offers products in various therapeutic categories, including immunology products, which include Humira, Skyrizi and Rinvoq; oncology products, which include Imbruvica and Venclexta; aesthetics products that include Botox Cosmetic, Juvederm Collection and others; neuroscience products, such as Botox Therapeutic, Vraylar, Duopa and Duodopa, and Ubrelvy; eye care products consists of Lumigan, Alphagan and Restasis; women's health products include Lo Loestrin, Orilissa and others; and other products, which includes Mavyret, Creon, Lupron, Linzess and Synthroid. Its products are sold to wholesalers, government agencies, health care facilities and independent retailers. It also discovers and develop antibody medicines that target difficult-to-drug disease-causing proteins, such as G protein-coupled receptors (GPCRs).

Closing Price
$146.28
Day's Change
-1.12 (-0.76%)
Bid
--
Ask
--
B/A Size
--
Day's High
147.68
Day's Low
146.02
Volume
(Light)
Volume:
4,591,481

10-day average volume:
6,392,098
4,591,481

Galileo Launches Customizable Buy Now, Pay Later (BNPL) Solution for Banks and Fintechs

10:00 am ET December 6, 2022 (BusinessWire) Print

Galileo Financial Technologies, LLC, a leading financial technology company owned and operated independently by SoFi Technologies, Inc. (NASDAQ: SOFI), today announced a buy now, pay later (BNPL) solution with issuance of single-use virtual cards and complete loan servicing. Banks and fintechs will have access to the customizable Galileo Buy Now, Pay Later solution, offering them easy entry into the in-demand BNPL market and enabling greater spending power for their customers.

The BNPL industry is forecasted to surpass 900 million global users by 2027 and offers a flexible way to shop and pay. However, non-bank BNPL providers offer the service based on very limited customer data, putting both the provider and the consumer at higher risk.

With Galileo, clients and banks that provide Buy Now, Pay Later to their consumers will be offered financing through their bank or a sponsoring bank partner that considers the consumers' financial health and ability for repayment. A real-time personalized offer is displayed in the bank's or fintech's mobile application. If the consumer accepts the loan offer, a prefunded, single-use virtual card will be added to their mobile wallet and presented in-store or online at most retailers.

"As more Americans are looking for flexible financing solutions, Galileo created a better BNPL experience that allows banks and fintechs to make more valuable loan offers to their customers directly from their existing bank systems," said David Feuer, Chief Product Officer at Galileo. "For our clients who are already part of the Galileo ecosystem with checking and savings accounts, offering Buy Now, Pay Later makes it even more seamless for program managers to execute both payments and disbursements."

The bank-issued Buy Now, Pay Later solution makes repayment flexibility available to more consumers in more places. Unlike non-bank BNPL providers, underwriting decisions are made by the bank or fintech who have insight and understand the customer's financial history best. The total number of installments can be customized. Galileo then manages and services the loan, which includes overseeing the repayment schedule, disbursement to the virtual cards, assessment of interest and fees, payment processing, charge off and optional credit reporting.

For more information about the customizable Galileo Buy Now, Pay Later solution, visit www.galileo-ft.com.

About Galileo Financial Technologies

Galileo is a leading financial technology company whose platform, open API technology and proven expertise enable fintechs, emerging and established brands to create differentiated financial solutions that expand the financial frontier. Galileo removes the complexity from payments and financial services innovation by providing flexible, open API building blocks and a secure, scalable, future-proof platform. Trusted by digital banking heavyweights, early-stage innovators and enterprise clients alike, Galileo supports issuing physical and virtual payment cards, mobile push provisioning and more, across industries and geographies. Headquartered in Salt Lake City, Galileo has offices in Mexico City, New York City, San Francisco and Seattle.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221206005195/en/

SOURCE: Galileo Financial Technologies, LLC">

MEDIA CONTACT: 
Alissa Clayton
The Fletcher Group
647.390.9085
alissa@fletchergroupllc.com
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COMTEX_420306573/1006/2022-12-06T10:00:00

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