1moredrink
10-17

$SoFi Technologies Inc.(SOFI)$ With this announcement, Sofi continues ramping up the offense of the last week or so.

Why does Sofi transitioning to the Galileo/Technysis core matter. IT'S A BIGGER DEAL THAN PEOPLE THINK.

1. More efficient bank operations...Sofi previously stated that once they adopted the entire Cyberbank core, they would save millions each year.

2. When they try to sell a major bank the Galileo/Technysis software, one of the major issues or hesitations would be that Sofi wasn't using it themselves, and no big US bank was using it... this helps tremendously in their ability to sell that software in the US and overcome those objections.

3. The mention of Sofi also using it for Comercial Payments not only helps Galileo sell that to other fintechs who may have Synapse type issues, but also looks like it's an on-ramp for business banking for Sofi.

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