Genome’s month in review: August

Genome’s month in review: August

Not gonna lie, this is probably our favourite content piece we publish each month! This August was very fruitful for Genome with product and news updates happening almost weekly. So, if you’ve missed some of our exciting articles and new features, it’s time to catch up, and that’s what our month in review is for.

Learn more about IBANs and international money transfers  

This month we’ve doubled the amount of the educational content in our blog with two new articles. The first one fully covers IBAN – from countries that have it to what is needed to send money using it. And if you ever wondered why IBANs are so long and what these digits and letters mean – this is explained in the article as well. 

Infographic: The number of countries in the IBAN registry as of May 2020

Our second article is about types of international money transfers and how they work. It can be of great use for people who aren’t sure what is the best way of sending money abroad for them, as we analyze some of the most common methods and describe their pros and cons.

Our collab with Onfido got a case study

For those who don’t know, Onfido is an identity verification service used by multiple companies around the world, Genome included. Onfido helps us to verify documents and biometric data of our clients during the onboarding. 

Before, our team had to check people’s documents manually – an unnecessary long-drawn-out process. But now, using Onfido, the verification is twice as fast as before and easy to complete. You can also read the full case study on the Genome-Onfido partnership for more information.

Genome advises Fintechs on which industries to work with 

The current situation is hitting some sectors hard, but there are still industries, that benefited from the lockdown, or will do so shortly. And Genome’s COO Daumantas Barauskas explained the reasons these businesses are becoming essential right now and why Fintechs should consider working with them in great detail. 

You can find his article “FinTechs Take Notes: Industries That Benefited From the Lockdown” ​​​​​​​on the Medici website. Also, remember that we post insightful infographics relevant to our blog and external articles on our Facebook page

Infographic: the global e-commerce market growth

Another award nomination

This time Genome’s efforts were noticed by Benzinga, as our EMI is now listed in the “Outstanding Performance – Best New Product” category of the Global Fintech Awards. 

We are proud to be acknowledged for our work once again, and you can support Genome if you like our services as well – just follow this link and vote for us. By the way, this year the Global Fintech Awards will take place online on November 10.

Our referral program is now available for business accounts

Genome had the referral program for personal wallet users for some time now, so we’ve decided that the next logical step is to also offer bonuses to our business clients.
If you have a business wallet within Genome, you just need to send a referral link to other companies or your business partners. As soon as another company opens a business account using your link and starts transfer and exchange money with it, you will get 10% of the commission fees from them doing so every month. Check out Genome’s blog for detailed instructions on how to activate the referral program.

Genome canceled service fees for all Lithuanian companies

Our decision to annul all the services fees for Lithuania-based companies became a real highlight of the month. Being a Lithuanian EMI, we wanted to somehow show the appreciation for our country of origin and figured we can try to support other companies. 

Hence, starting August 17th, there are no more service fees for both low-risk and high-risk businesses in Lithuania that use Genome for banking. Not only that, but the SEPA transfers fees are also lowered to 0,06 EUR per incoming and 0,11 EUR for outgoing transfers instead of 1 EUR for both services. Our special offer is available till the end of November 2020, you can find out more about it in this blog post.

And with this thrilling news, we are ending August month in review hoping that our new features and insights were beneficial for you. Be sure to check out our blog and socials in the future, as we are planning even more essential product updates.  

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