This year, Genome unveiled an international money transfer feature for its business wallet users. It allows receiving and sending business payments to over 40 countries, benefiting from Genome’s easy-to-use interface.  With these, companies can significantly expand their global footprint and take advantage of new growth opportunities in various markets. Our team is happy to announce that we are ready to expand this feature. We are adding extra currency options for business wallets to send and receive SWIFT transfers. These currencies are Polish zloty (PLN), Swiss franc (CHF), Japanese yen (JPY), and Canadian dollar (CAD). It means that you can now

In October 2024, Genome introduced Polish zloty (PLN), Swiss franc (CHF), Japanese yen (JPY), and Canadian dollar (CAD) as new currencies for your accounts and other services.  Then we thought – why stop there? And thus, later on, we introduced 4 more new currencies: Czech koruna (CZK), Hungarian forint (HUF), Swedish krona (SEK), and Australian dollar (AUD). This brings the total number of currencies in which you can open an account to 11, including our originals: euro (EUR), US dollar (USD), and British pound (GBP).  So, how can you use and benefit from all these currencies inside Genome? Let’s take

Earnings before interest and taxes (EBIT) is a simple profitability metric that any company can use when evaluating its economic performance, such as operating expenses. This is yet another formula, along with gross profit, cash flow, etc, that you need to know. In this article, we will explore the topic and show how EBIT calculating works, its impact on a company’s profits / financial statements, and what businesses can learn from it in general. What is EBIT? To calculate EBIT for your business operations, we first need a clear definition. So, EBIT is a financial performance metric that measures a

As 2024 officially comes to an end, we wanted to reflect on the biggest changes and achievements the year has brought us. We invite you to take this journey with us – who knows, maybe there’s something you have missed! Getting acknowledged in our beloved Lithuania Although Genome provides services across dozens of European countries, there is always something special about our fellow Lithuanians enjoying our platform this much! Genome has achieved a significant milestone by becoming the 5th largest electronic money institution (EMI) in Lithuania in terms of client funds turnover, as reported by the Bank of Lithuania for

The first letter in “iGaming” stands for the internet, which is notable. The iGaming companies were built on the web foundation and naturally rely on reliable and secure payment providers. Here at Genome, we work with such clients and know a lot about iGaming payments. Find out how they work in the article below.  What are iGaming payments? Deposits that people make when playing online games, cash withdrawals that customers get after winning at online casinos, or any other online gambling-related two-sided transactions are all considered iGaming payments. Any payment solution or alternative payment method would be considered an iGaming

We are used to discussing euro payments in our blog. But what about other transfer options? For instance, CHAPS payments are a specific transfer method used in the UK. Although you can only make a CHAPS payment in British pounds, it still can be very effective for a couple of purposes. Want to learn which ones? In this article, you will find out what CHAPS payments are and how to make a CHAPS payment. What is CHAPS? CHAPS stands for the Clearing House Automated Payment System, which is used for receiving and sending money within the United Kingdom in GBP

Having the right business bank account is a crucial step for any company to take. This will let you carry out your business banking processes and keep control of your funds. Read on to find out how to compare and identify the best online business bank account options. Key features of an online business bank account You need a useful business account that is going to let you send and receive transfers effortlessly, as well as keep track of your financial transactions with the help of the following key features. Accessibility and convenience 24/7 access means online business bank accounts

Choosing the right business bank account is vital for a start-up to manage its finances efficiently. At this important stage in the company’s development, the right business accounts can help start-ups in several ways, which we’ll look at here.  Genome is an innovative electronic money institution that offers a selection of comprehensive business account solutions. We have useful options for anyone looking for a solid startup business account to start accounts, get cards, and make bank transfers locally or worldwide. We’ll be looking at the points to consider when looking for the best startup account for a growing business based

Fintech (financial technology) and iGaming industries benefit from each other as their cooperation grows. For one, fintech solutions are revolutionizing how players engage with online platforms by providing a wide spectrum of services. For instance, instant payments and blockchain security.  On the other hand, the gamification of services has become more common within financial businesses.  In today’s article, we will explore the synergy between the gaming industry and fintech and find out which direction it goes. The integration of financial technology in iGaming The global iGaming market is projected to reach $133 billion by 2029, partly driven by financial innovations.

Winter is upon us, and what is a better way to greet it than a cozy read? Genome can certainly deliver on that, as in November, we wrote multiple detailed articles that can help you better understand banking services and financial management. Read on to find out more.   Shop smart during Black Friday and other holidays Black Friday has become a global shopping phenomenon, enticing buyers with promises of massive discounts and exclusive deals. However, Genome’s guide emphasizes the importance of smart financial decisions during this shopping frenzy. For instance, some financial tools, even within Genome itself, can enhance your

A BACS payment is an electronic transfer of money made between banks in the UK. As one of the most popular and efficient methods of moving cash, it’s become a hugely important aspect of the financial world, with over 140 billion transactions carried out since it was established. BACS stands for Bacs Payment Schemes Limited now but was originally known as the  Bankers’ Automated Clearing System. This process was introduced in the late 1960s to avoid the delays and paperwork involved in using cheques as a bank payment system.  Read on to find out how BACS transfers work, the BACS