Dive Brief:

• Digital bank Chime experienced an outage Wednesday and Thursday, preventing customers from making purchases and accessing cash.

• Galileo, the application programming interface-based payments platform that powers Chime, told Banking Dive it began experiencing an operational incident affecting its ability to support transactions for "a small number of our clients and their customers" Wednesday.

• Chime's card services have since been restored, and customers are able to access funds and checking account balances from ATMs. Galileo said it is working to restore Chime's mobile app, "which is currently unavailable or slow to respond."

Dive Insight:

Chime's systems outage is the third such incident since July, according to Mobile Payments Today.

One of the largest challenger banks in the world, Chime has close to 5 million customers.

The San Francisco-based bank, which is in the midst of a new funding round that could value it at more than $5 billion, said no personal or transactional information has been affected during the outage.

"Our team is taking this matter seriously and we understand our significant responsibility to our clients and their customers," Galileo said in a statement. "We are committed to actively resolving the situation and returning to normal operations as quickly as possible."

The Salt Lake City-based company, which also powers Monzo, Revolut, Robinhood, TransferWise and Varo, says it is on track to process around 10 million financial transactions daily within the coming year, which equates to $33.5 billion.

The Chime outage comes as Galileo raised $77 million in its first-ever venture capital funding.

Galileo said it plans to use the capital to fund expansion in Latin America, the U.K. and Europe.