Sometimes it’s hard to imagine that years ago money transfers between European countries took up to five business days and fees for the services differed vastly. But now these transfers are mostly seamless thanks to the adoption of SEPA. In this blog post, we will take a look at how SEPA came to be, what are the advantages, and explain to people who are new to SEPA transfers how to make them. Ready? Let’s start. What is a SEPA payment SEPA, which stands for a single euro payments area, is an initiative implemented by the European Union to integrate electronic

The COVID-19 pandemic definitely has pushed financial institutions to change the ways they operate and come up with new solutions for this.These and other topics were recently discussed during the Fintech week Lithuania online conference on the 15-18th of June. Genome also participated in the event and we would like to share some of the most interesting ideas voiced during a panel “The most exciting COVID-19 crisis innovations that will shape the future of Fintechs”. The issue was deliberated on by the head of Fintech Lithuania at Infobalt Paulius Tarbūnas, head series producer and host at Fintech Finance Douglas Mackenzie,

Opening a business account at a bank might be worrisome, as you are never quite sure about the ever-changing requirements and documents needed to start one. And sometimes you don’t have any free time to spend on multiple visits to the banking institutions – especially now when it’s better to minimize unnecessary contacts due to the pandemic.Thankfully, there is a faster and safer alternative like Genome, where you can open multiple personal, business IBANs or merchant accounts completely online – no need to waste time or risk your wellbeing.Using Genome’s business IBAN you can send low-cost internal, SEPA, and SWIFT

We understand that you might have questions about Genome and its services while browsing our website. That’s why we launched an online chat, where you can communicate with our support team in real-time. You can find the chat in the right lower corner of Genome’s main page, as well as in IBAN account, Money transfers, Merchant, Referral, Pricing, and Support sections.  To start using the chat, enter your name, e-mail address, and a message itself that might include questions and suggestions regarding Genome services. Our support consultant will get back to you within minutes during working hours on weekdays.  If it is a weekend and our support team

The first instances of online banking, as we know, started to emerge in the mid-90s when the internet itself became public. The popularity of internet banking keeps growing, as technologies develop and become more accessible and widespread worldwide.  Just see for yourself: in 2007, 25% of people within the European Union used the internet for online banking, and in 2017 this figure more than doubled to 51%.  As of 2019, online banking penetration in the EU markets reached 58%, with over 90% of Norwegian, Icelandic, Danish, Finnish, and Dutch populations accessing online banking sites.  The recent lockdown around the world

It’s been a bit more than a year since Genome opened its beta to the public during The White Nights Conference in Berlin. But a lot has happened since then: our EMI was recognized as the Best Online Business Payments Platform 2020 within Europe, launched a referral program beneficial to our clients, and also started a COVID-19 initiative to support low-risk businesses during the pandemic.  We tried our best to gradually enhance the quality of our services, and thanks to that became a part of something even greater. Invest Lithuania, the Lithuanian investment promotion agency published a report called “The Fintech Landscape in Lithuania 2019-2020”. In it, the

Due to the issues of our banking partner, Genome is facing an unfortunate update related to SWIFT. For this reason, starting May 21st, Genome will not be able to accept and process any new requests for SWIFT transfers and currency exchange. We are deeply sorry for the inconvenience, but we want to assure you that it is a temporary problem Genome is trying to resolve ASAP. Rest assured that we will inform you as soon as the issue is fixed. Meanwhile the SEPA transfers are still at your disposal and will be handled with no delays, as well as other

The popularity of e-Wallets grows daily, but not all people are aware of this payment method’s services and specifics. Some believe that digital wallets are a safer modern replacement for physical wallets. Others find virtual wallets more convenient for online transactions. And some merchants are wondering whether you can replace a payment gateway with a digital wallet.We at Genome decided to answer the most common and tricky questions about and involving electronic wallets.What is an e-Wallet? An electronic wallet is an application used to mimic our physical wallets online – you can store money and buy products and services via

The time has come – Genome is rolling out its referral program to reward our personal wallet users. We also made sure that the program will not be subjected to fraudulent actions and fake accounts’ exploits.  So, that’s how it works: Step one. Our clients can send their referral link to their partners, colleagues, friends – they all will get a possibility to open an account and use other Genome’s services. Step two. A person, who has received a referral link, needs to use it for registration and complete the on-boarding procedure. Step three. Our referrer client will get 10%

A business bank account is often a topical matter for company owners and merchants, whether you already have one and it is an essential part of your business, or you are an aspiring entrepreneur who is only thinking about opening the account. In today’s blog post we have gathered the main information about a current business account and why do you need it, as well as put together a guide for start-up and small business owners on how to open one. What is a business bank account? A business account is an account a person opens in a bank or