FTAC Athena Acquisition Corp
Change company Symbol lookup
Select an option...
FTAAU FTAC Athena Acquisition Corp
ETV Eaton Vance Tax-Managed Buy-Write Opportunities Fund
LGO Largo Inc
ONTO Onto Innovation Inc
OFED Oconee Federal Financial Corp
WKEY Wisekey International Holding AG
FPH Five Point Holdings LLC
FATE Fate Therapeutics Inc
MCD McDonald's Corp
AITX Artificial Intelligence Technology Solutions Inc
Go

*Nasdaq FSI: *Deficient: Issuer Failed to Meet NASDAQ Continued Listing Requirements

Company profile

FTAC Athena Acquisition Corp. is a blank check company. The Company is formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The Company has not commenced any business operations. The Company has not generated any revenue.

Closing Price
$10.11
Day's Change
0.00 (0.00%)
Bid
--
Ask
--
B/A Size
--
Day's High
10.11
Day's Low
10.10
Volume
(Heavy Day)
Volume:
415

10-day average volume:
438
415

Galileo Launches Direct Deposit Switch Powered by Atomic

10:00 am ET December 13, 2022 (BusinessWire) Print

Galileo Financial Technologies, LLC, a leading financial technology company owned and operated independently by SoFi Technologies, Inc. (NASDAQ: SOFI), announced the launch of Galileo Direct Deposit Switch. Powered by Atomic, the infrastructure provider for connecting with payroll accounts, Galileo's Direct Deposit Switch functionality gives the company's fintech clients an opportunity to better serve consumers by offering faster access to their wages and a more streamlined approach to redirecting part or all of their paychecks into a financial services accounts of their choice.

With Galileo Direct Deposit Switch, customers can quickly and easily set-up and update their payroll direct deposit information, specify how much of their wages to deposit in their accounts, create accounts for specific purposes, including a vacation or education fund, and make recurring deposits to multiple accounts. The new financial feature also eliminates processing delays, gives users peace of mind by instantly verifying requests, and empowers workers with greater control over where they route their funds.

Approximately 93% of U.S. consumers receive their paycheck by direct deposit. However, the direct deposit experience is laden with manual friction that commonly occurs during onboarding when workers join a new employer or request to update their disbursements, such as changing their primary account on file or splitting their paycheck routing across two or more accounts. These are simple everyday scenarios but can be complicated because they often rely on sending instructions to HR or payroll providers. These processes are still dated, despite heavy venture investment in the HR technology sector, but are also a prime target for account verification fraud and unforced human errors. For workers, it can also delay getting paid in their desired financial accounts by up to four weeks -- or two bi-weekly pay cycles. All are key pain points Atomic and Galileo have heard from customer feedback and aligned this partnership to solve.

"Recent Galileo research shows people are keeping money in more accounts, and they want fast, flexible ways to move and manage their money," said David Feuer, Chief Product Officer at Galileo. "We are proud to partner with Atomic to help our bank and fintech clients simplify direct deposit onboarding, drive higher customer lifetime value and boost access to financial services that will enhance everyone's financial future. As we continue to accelerate digital banking, Galileo Direct Deposit Switch will be the best way to drive value for our clients' ledgers."

Galileo Direct Deposit Switch integrates Atomic's automated payroll connectivity to offer the ease and convenience that consumers expect from their financial services provider today. By embedding the new functionality directly into the customer onboarding experience, customers can boost direct deposit adoption by up to 50% while also increasing customer lifetime value (LTV). Banks and fintech firms working with Galileo can also further maximize customer value and retention by offering highly relevant new products to direct deposit customers.

"For financial institutions and fintech firms, a steady deposit stream is key to account profitability. These benefits extend to businesses as they look to leverage digitized and automated direct deposit payroll processes that present enormous financial opportunities," said Lindsay Davis, Head of Markets for Atomic. "Clients leveraging payroll connectivity solutions, such as direct deposit switching, have seen as high as a 3-4X lift on direct deposit acquisition when benchmarked to other solutions."

Galileo Direct Deposit Switch is available for most top employers and incumbent payroll providers, bespoke enterprise solutions, modern HR tech providers, gig-economy platforms and government systems via Atomic's network of payroll coverage. To learn more about embedding this financial feature as part of a broader approach to eliminating friction, activating newly onboarded clients and giving existing customers simpler options for directing their payroll funds, download Galileo's new resource, The Payments Growth and Activation Playbook.

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.

About Atomic:

Atomic is the market-leading provider of payroll connectivity, trusted by over 160 financial institutions, fintech firms, and partners, including 13 of the largest fintech apps, as well as financial firms offering digital-first neobanks, alternative lending, crypto exchanges, and digital brokerages.

Atomic provides the infrastructure to connect consumers to their financial data, automate set-up and updates to direct deposits, digitize income and employment verifications (VOI/VOE), repay financial obligations from their paycheck, access earned but unpaid wages, and tap tax filing advantages, as well as supporting financial wellness benefits through its EmployerLink solutions. Atomic's suite of API solutions simplifies complicated payroll and human resource platform integrations that cover over 480 unique payroll connections, including incumbent payroll providers, bespoke enterprise solutions, modern HR tech providers, gig-economy platforms and government systems.

Atomic is ranked by CB Insights as a Fintech 250, selected by Fintech Breakthrough Awards as a Best Banking Transaction Solution, and is recognized as a Top Work Places 2022. Atomic has raised $78.6 million from investors, including Greylock, Mercato Partners, Core Innovation Capital, Portage, and ATX Venture Partners. For more insights on the intersection of fintech and payroll, you can subscribe to Atomic's Intelligence newsletter.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221213005235/en/

SOURCE: Galileo Financial Technologies, LLC

Galileo Media Contact: 
Alissa Clayton
The Fletcher Group
647-390-9085
Alissa@fletchergroupllc.com

Atomic Press Contact: 
Lindsay Davis
Head of Markets, Atomic
954-529-3995
Lindsay@atomicfi.com
comtex tracking

COMTEX_420700640/1006/2022-12-13T10:00:01

Earnings Calendar and Events Data provided by |Terms of Use| © 2023 Wall Street Horizon, Inc.

Market data accompanied by is delayed by at least 15 minutes for NASDAQ, NYSE MKT, NYSE, and options. Duration of the delay for other exchanges varies.
Market data and information provided by Morningstar.

Options are not suitable for all investors as the special risks inherent to options trading may expose investors to potentially rapid and substantial losses.
Please read Characteristics and Risks of Standard Options before investing in options.

Information and news provided by ,, , Computrade Systems, Inc., ,, and

Copyright © 2023. All rights reserved.