Expense Management Firm Mesh Payments Selects SoFi as Sponsor Bank

Mesh Payments has selected SoFi Bank as its sponsor bank and continues to partner with SoFi Technologies-owned Galileo Financial Technologies as its longtime payments processor.

This partnership integrates Mesh Payments’ expense and card infrastructure with SoFi Bank’s financial framework and Galileo’s customizable API-based payments processing platform, the companies said in a Thursday (Dec. 12) press release.

The combination of these capabilities will allow Mesh Payments to streamline enterprise expense management, reduce inefficiencies and accelerate its delivery of innovative solutions to its clients, according to the release.

“They are the ideal partners to support our mission to provide companies with an efficient, forward-thinking approach to corporate travel and expense management,” Mesh Payments CEO Oded Zehavi said in the release.

In the partnership, SoFi Bank’s sponsor program built on Galileo’s tech platform will enable faster product development, and Galileo’s regulatory expertise will ensure that the solutions align with compliance standards, the release said.

Enterprises using the solutions will gain real-time data, automation and centralized visibility into spending, benefiting their operational efficiency, per the release.

“With SoFi and Galileo under one roof, we empower partners like Mesh Payments to harness Galileo’s advanced cloud-based banking core, enabling them to launch new products faster, scale seamlessly and stay ahead of their customers’ ever-changing needs,” SoFi Bank President Paul Mayer said in the release.

In another, separate recently announced collaboration, Mesh Payments said Dec. 2 that it partnered with MRI Software to deliver a unified spend management solution to companies in the real estate industry.

This collaboration will integrate Mesh’s global corporate travel and expense management platform with MRI Software’s property management platform, giving them access to a unified global solution for spend management.

In February, Mesh Payments announced the integration of its global card and spend management solution with NetSuite OneWorld, an enterprise resource planning solution for multi-subsidiary management.

This integration enhances global spend management by streamlining intercompany transfers and syncing transactions across multiple entities. It eliminates the pain of multi-entity bookkeeping and intercompany transfers while enabling seamless recording of transactions across entities and regions, the company said at the time in a press release.

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