Genome Blog / genome update / Genome’s month in review: May
May. 31, 2021
It’s almost summer, and we want to enter a new season with a review of what our team has done in May. Genome dedicated this month to making people’s lives easier by educating them on different financial operations. More on that – in our “Month in review” blog.
Elaborating on all the aspects of money transfers
The ability to send and receive money is one of the main features that clients expect from their financial institutions. But there are many aspects and options when it comes to transferring funds.
That is why our team has published multiple articles discussing the matter and answering questions people have about the ways you can send money. Go to Genome’s blog to find out how long the international transfers take, which countries are a part of the SEPA zone, why you need BICs, and how they differ from the IBANs.
Explaining the financial features that you can benefit from
We talk a lot about transfers, reports, merchant account opening, currency exchange, and other basic functions your bank/PSP may offer. But there is so much more to it, than just these services!
For instance, have you heard about the direct debit? Using it, you allow a third party to withdraw money from your account to pay for services on a monthly basis (or depending on the regularity you need to pay). These types of transactions are very convenient and fast when it comes to paying for utility services, subscriptions, etc. And you can always cancel the direct debit – we explain how here.
Knowing what is an Annual Equivalent Rate and how to calculate it can be useful as well. With it, you can compare the interest rates for deposits between financial institutions that have different compounding periods, and choose the best option for you! Learn more about direct debits and AER in our blog.
Exploring the popularity of virtual cards
We at Genome talked a lot about different types of cards and how to find the right option for you. This time we’ve decided to discuss the virtual cards separately, as more and more people go digital and abandon plastic cards.
Not to mention that Genome develops virtual Visa cards for personal and business wallet users, which you can pre-order. Find out the advantages of virtual cards in the latest article.
Discussing the data security issues
We would like to end this month in a review on a serious note. Unfortunately, in this digital age, data breaches have become more common. The news articles often showcase that many industries can succumb to this issue.
That is why Genome’s COO Daumantas Barauskas shared his advice on what people should and shouldn’t do to prevent their information from being stolen. He also explained, what to look out for when choosing a financial institution if you want them to keep your data safe. Check out his article “It’s time to address your data security. The same goes for your bank” at Finextra.