Galileo Processing Inc., a Salt Lake City-based technology firm behind major fintech providers, said it has changed its name to Galileo Financial Technologies Inc., but will continue to operate informally under the name Galileo. 

Fintechs ranging from Chime, RobinHood, Varo and Transferwise all use Galileo technology to power their payments, banking, money transfer, lending or related businesses. 

"What we bring to our fintech, financial institution or investment firm clients goes far beyond processing," Clay Wilkes, CEO of Galileo, said in a company release. "The small but meaningful change to our legal name more accurately captures the capabilities of our sophisticated payments platform, including the power, speed and simplicity of our open APIs and the full stack support for the functionality that must sit behind efficient and secure financial services."

In May, the company announced plans with Carson Group for a white label app for wealthy investors. Wilkes previously spoke to Mobile Payments Today about its open APIs. 

Cover image: Courtesy of Galileo