Welcome back to our monthly blog about the latest updates! Time runs fast, but our team manages to keep up with it! Find out what we were able to do during November. Spoilers: great news of a massive launch awaits you at the end of the article! Rediscovering IBANs International Bank Account Numbers are a very common piece of data most bank clients know about. But sometimes, it is easy to forget that the IBANs’ crucial purpose is money transfers. That’s why the term IBAN transfers is sometimes used, as sending funds is often impossible without having said code. This
The autumn came and went, and we only have a month till the end of the year! But for Genome, there’s no slowing down, as we continue working to improve and broaden our services.
And November was a busy month for us, like many others before that. So, without further ado, let’s kick off the newest month in review for Genome.
The “My Team” feature explored
We recently had a new exciting access management feature launched called “My Team”. Although we briefly introduced it in our previous in October’s month in review, since then, described the feature in much more detail in a blog post of its own.
A small reminder that the access management allows business account users to share access to the account with other company’s teammates, as well as assign them different roles in the account management, which entail different sets of functions available. All in all, “My Team” is what your business needs to divide the workload evenly when working with your funds, find out more about it in the blog post.
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Not compliant with PSD2? Time’s running out
This month Genome’s covered one of the timelier topics for European merchants – the Revised Payment Services Directive (PSD2), and everything both customers and businesses should know about it.
The article includes a vital reminder for merchants that operate within the EU- the deadline for strong customer authentication (SCA) runs out on the 1st of January, 2021. For those who don’t know, SCA is a part of PSD2 and entails a double authentication of a customer when they buy something online. Basically, it allows a safer buying experience for clients, keeping their money, and financial data safe.
In the PSD2 article, we describe what merchants should do to be compliant with strong customer authentication, as well as explain, what is the difference between the Revised Payment Services Directive and General Data Protection Regulation (GDPR). So, if you ever wondered that, this publication is for you.
The cards’ pre-order successfully goes on
This is one of Genome’s biggest projects of 2020. If you haven’t heard yet, Genome will soon be launching virtual multicurrency cards and physical debit cards available for both personal and business wallet users.
And at the end of the month, we opened a card pre-order of the cards for our clients. The pre-order takes minutes to complete, and in November we even made an infographic to demonstrate the process. A friendly reminder, that you can find all of the infographics on Genome’s social media. And if you need more information about the cards before ordering them, we suggest you read the article.
Helping out other Fintechs with advice from Genome’s team
We at Genome enjoy sharing not only our seamless banking services but also our experiences. And, as for the latter, we recently had a chance to do so. Genome COO Daumantas Barauskas gave an interview to Tech.eu, in which he described, which important decisions our team made to start operating.
He also offered tips on what start-up Fintechs should pay attention to, and explained, how some decisions can lead to long-lasting effects on your business. Check out the full article “Want to play the fintech game? Lithuania’s Genome shares best practices to give you a headstart”, or read a short, but insightful version of it on our website.
All in all, it was great to share our knowledge with others, and we hope that next month, will we share even more information on our new services and online banking overall.