Anthony Noto : Thank you for the question. And I think you characterized it appropriate in that it’s a refinement of the strategy. Now that we’re operating on one unified platform with both Technisys and Galileo, we can leverage the combined go-to-market and that does drive some synergy cost savings, which is why Chris mentioned small head count reduction. But there’re also cost savings in different areas like marketing when you have that unified approach, especially in the United States. In addition to that, we’ve made really significant investments in the tech platform over the last three years. We’ve increased headcount by 2.5x. We moved to the cloud while maintaining on-prem capabilities. The on-prem will now go away this year.
We’ve also done a great job at adding new partners. We’ve been adding 20-plus partners a year. As we look at the macroeconomic environment and where we sit, we think the right strategy for the year is to focus on durable companies with large installed bases, or well-capitalized companies that we know can make the transition and that we’ll get a great return to leverage our platform capabilities. And so that’s how we’re approaching the year. For the first time, we’re going to have meaningful margin expansion in the tech platform to start to leverage that investment we made, but we’re still investing, and we’re still growing. And let me give you an example of some of the areas that we’ve invested in that we expect to bear fruit this year, and we’ll keep investing in.
First and foremost, we wanted to diversify our products just out of a debit or interchange ACH type of product expanded in the B2B category. We have a number of new B2B partners that are generating revenue today. Some are doing small and medium business lending, some are simply using it for payments and for accounts receivable and accounts payable. But there’s a good pipeline of other partners that have large fleets as well as big economy companies, et cetera. In addition to building out the B2B channel, we’ve also tried to add more products for consumer-facing clients. And so one of the products that we have that’s been adopted as Secure Card. Another product that we’ve launched more recently is a fraud protection. As you think about fraud, and you think about the scale of some of the partners of Galileo, they may not have the scale to invest in fraud the way that we can, and they may not have the data that we have to actually drive those models.
And so we’ve rolled out 1 piece of a fraud platform that we want to make available to all of our partners. If we can help them eliminate fraud, it not only saves losses, but it actually makes their service more reliable, reduces the overhead they have in the call centers and also allows them to hit better SLAs in servicing their customers when they do have issues that have to be solved. So it’s a classic major footprint, bringing your foot type of product. In addition to that, we’re focused on things that will help them drive engagement. So we’ve launched a direct deposit switching product, and you’ll see us continue to do more to drive more engagement. Things like instant funding are another vehicle that makes the movement of money faster and better for our partners.
And then last, we just launched our first product on both Galileo and Technisys SoFi, which is paying for. That product is now available for any of our partners. And if you think about the partners at Galileo, many of them are not playing the same segment that we are. We’re at a very high-end customer with high FICO score and high income. Most of the scale in Galileo’s partners is actually at the unbanked or underbanked. A Pay-in-4 product is much better for them than a secure card or unsecured loan or a credit card, and that product can be launched in a turnkey fashion with a much higher interchange of about 3% compared to what we’re generating at 1% in debit. It does bring with it some risk and so we’ll have to wait cautiously into that market with our partners.
But it’s another example of the innovation that we’ve driven that we now think we can get a return on revenue against. And the last thing I’ll touch on is Connect. It’s not something we’ve talked about on the call before, but we think it’s a diamond in the rough, so to speak. It’s an AI-driven customer service model that uses both voice and text. And that product is one that SoFi has now adopted, and that’s after SoFi did a complete RFP of all the different choices and determined Connect to be the best choice for our company and we’ll continue to invest in that product it’s available to our partners as well. And the last thing where I’d say about our strategy relates to the technology platform is that the opportunity to expand geographically is bigger than you could imagine.
We have to really pace our level of investment. And while we’re not expanding geographically today, there’s a lot of penetration within the LatAm market, which is our area of focus, especially with Technisys in more than 12 markets, helping, cross-sell Galileo’s products.
Operator: Our next question comes from the line of Dan Dolev of Mizuho. Your line is now open, please go ahead.
Dan Dolev : Great results. Thanks for squeezing me in. Can you maybe give us some quarterly trends on sort of particularly the three metrics, student loans, personal loans and mortgages, just kind of how things are trending through, say, the end of January? Thank you.
