The best Genome updates of 2020
genome update

Looking back at 2020: the grandest Genome product updates

The year is almost over, thus we at Genome thought it would be a perfect time to take a look back at some of the best features and updates we’ve added to our product in 2020. Want to know what are the best updates Genome has to offer? Follow the article to find out.

Working with more platforms and marketplaces

Our team strives to reach as many merchants as possible. We believe that our services will be beneficial not only for companies with individual websites but for users of different platforms and marketplaces. That’s why, in 2020, Genome’s become available for merchants from Shopify, as well as PrestaShop, OpenCart, and OXID. This is in addition to our existing integrations with Magento, WooCommerce, and Drupal. 

The integration itself is pretty simple: a company should first open a merchant account within Genome, and then install a free plugin for the platform/marketplace of their choosing, which takes minutes.   

Extending your banking capabilities

One of the main projects Genome works on is the launch of our very own cards. There will be two types of cards: virtual multicurrency ones for online shopping, and physical debit cards, which can be used for contactless payments globally. 

The cards will be available for both personal and business wallet users, and you can already pre-order these or find out more about them in this blog post.  

Replying to customers in real-time

Due to lockdowns, our team didn’t have much chance of meeting up with our partners and clients during conferences and other events this year. To fill in the communication gap, we significantly increased the number of articles in our blog to elaborate on our services and started an online chat. 

Situated in the right lower corner of Genome’s website, this chat allows contacting our team directly if you have any questions or issues. We’ll write you back in near real-time, or answer via email later if the issue/question doesn’t have an immediate resolution. In any case, the team always glad to hear your feedback, or help out to our fullest extent.

Giving your team more access to collective account management

Genome’s developed the access management feature keeping the most convenient way of running a business in mind. Just think of the way your companies’ departments operate: the team shares responsibility, and each member contributes to the common cause.

The same can be said about the “My Team” feature: with it, you can allow other members of your company account access to share the workload and accelerate the workflow. You can assign them different roles: from the director/financial director to the accountant and analyst, all the roles entail different levels of access to certain functions.  

Enabling multiple reports to provide users with helpful data  

Keeping an eye on your financial flow is crucial, that’s why we introduced different reports for your convenience. For instance, we have transactional reports for personal and business wallets, which encapsulates your transaction history data. You can customize those with many filters, upload and send them to teammates and business partners. The transaction reports for merchant accounts include transactions from as many websites as your company uses.

And these reports for merchant accounts include transactions from as many websites as your company uses. There are also summary reports for merchants, which have all the vital metrics for your business, like sales, refunds, chargebacks, etc. The best part is that we’ll make three more reports on the approve ratio, chargeback ratio, and chargebacks available before the end of the year.

Notifying you about the important things

We want you to be always well-informed about the latest news and updates from Genome. And you don’t have to check the email for that – that’s what the “Notifications” panel is for, which you can reach both from your desktop Genome dashboard or the app. 

Get important notifications about the changing user statuses or activity, and other relevant reminders.  

Offering bonuses for bringing your friends and partners to Genome

Genome offers referral programs for both our personal and business wallet users. All they need to do is introduce their friends or acquaintances (in case of personal account clients) or other companies (for business wallets) to Genome’s e-banking services, and get rewards while doing so.

The process is similar in both cases: get the referral link from the referral program tab after logging into your account. Then share the link with your friend/business partner and wait until they start using Genome. 

Personal account owners will get 10% of the friend’s commission fees for services like transfers and currency exchange monthly, while business account owners will receive 10% of the commission fees from initial EUR IBAN account opening, outgoing and incoming bank transfers, currency exchange of their partner monthly. 

Making the product more accessible through localization

Genome works with customers from all over Europe, and we believe it’s vital to be accessible to as many people as possible. And what a better way to do so through fast, seamless services combined with multiple localization options. 

Right now Genome dashboard is available in English, German, Spanish, Lithuanian, French, Italian, Norwegian, Russian, and Ukrainian. You can switch to a different language after logging in my.genome.eu.

Establishing initiatives to help businesses in these uncertain times 

This year our team decided to support businesses that were affected by lockdowns, as we wanted them to withstand these difficult circumstances. Thus, in April we canceled all the services fees for low-risk companies. 

Then in August Genome waivered the fees for low- and high-risk companies from Lithuania in a gest of giving back to the Lithuanian community which we are a part of. The team also lowered SEPA transfer fees from 1 EUR to 0,06 EUR per incoming and 0,11 EUR for outgoing transfers. 

Genome’s COO Daumatas Barauskas shared our perspective on the matter in the article “Should payments companies continue waiving fees for post-coronavirus recovery?” for the PaymentsSource news website, the summary of which you can find in this blog post. But in short, we brought forward these initiatives, so that the businesses can spend money on something more crucial than banking fees, like salaries for their employees. 

At the end of the day, WE ARE GENOME – an electronic money institution that works hard on delivering our customers convenient and smooth online banking services, which signify the changing times and innovations in the industry. And, as you can see, every update mentioned in the article supports our vision to some extent. We hope you have happy holidays and stay with us in 2021 and beyond, and we at Genome will make sure our features will be only improving with time.