financial institutions
Business services
What is a non-bank financial institution? Types of non-banks
Surely, you know about banks: every decent-sized European city has at least one nowadays. Using a bank has become something as regular as going to the store. But how about non-banks? The term may sound a bit confusing, as it doesn’t exactly tell us the purpose of such companies. The Genome team is here to clear everything up! This article will explain how the non-banking companies work and differ from other financial institutions. Non-banking financial companies: meaning of the term First and foremost, let us finally explain what is meant when referring to non-banking financial institutions. Non-bank financial institutions, also
Business services
Retail banking vs. corporate banking: how do they differ?
Nowadays, banking is a broad concept encompassing multiple types of services. Just take a look at the article where we described different types of financial institutions – definitely, the market is very diverse. By the way, in that particular article, the Genome team mentioned retail and commercial (corporate) banks, and we decided to elaborate on the topic a bit more. Thus, today, we will explain the difference between retail and corporate banking and also describe some of the services that retail and corporate banks provide. What is a retail bank? If you are looking for an account for your personal
Money and you
Explaining alternative banking: what is it?
If you read Genome’s blog, you likely come across terms such as traditional banking and online banking and understand how they differ. But what about alternative banking – what is this term even about? Well, today, you have a chance to find out! Our team will explain what alternative financial institutions are and why you may want to use them. Alternative banking: the definition Traditional brick-and-mortar banks have been around for decades upon decades. By now, people are aware of them and which services they provide. But the way we function and run our day-to-day errands, and the world, as
Money and you
What is a neobank? Examples and benefits of neobanks
Banks are a huge part of people’s day-to-day lives, even if they just have one personal account and need a debit card for rare in-store purchases. But what about neobanks? Not all people know what these are and if they should switch from their brick-and-mortar banks to neobanks. But Genome is here to explain. Today you will find out some of the main facts about neobanks, their advantages, and how neobanks compare to other financial institutions. Neobank: meaning of the term Neobanks, as you might have guessed, represent a new type of financial institution. They started arising after the financial
Money and you
Types of e-banking: everything you need to know
Different types of e-banking (electronic banking) have changed the way we manage financial obligations. They work by streamlining financial transactions and giving easier access. Given the increasing importance of the digital economy, e-banking has become a huge part of our lives. There are several different ways this can be carried out. These include internet banking using online platforms and mobile banking on apps. These different ways of accessing virtual banking services have led to a diverse e-banking industry. It’s now possible to manage your money in a way that suits you perfectly. Internet banking (online banking) Internet banking services started
Money and you
Examples of financial institutions: what is the difference?
Some people commonly consider financial institutions to be synonyms for banks. But financial institution is a much broader term. It includes many types of international financial organizations which provide different kinds of services. Want to learn more about banking institutions across the board? Genome’s team is here to explain the most common types of financial companies. Let’s proceed! Financial institutions: definition The “financial institution” meaning is quite simple. These financial entities provide services to individuals, businesses, and/or merchants. For example, financial companies are involved in various operations, such as transfers, monetary transactions, currency exchange, loans, investments, etc. Such institutions are
Business services
Why Fintechs gain popularity and how to open a business account with them
Financial technologies are nothing new anymore. Indeed, they are only getting more advanced each year and widely integrated into the daily life of millions of people. Fintechs are not only about fast and simple personal accounts management anymore. In fact, there are different types of financial technologies and they introduce such online services as opening merchant accounts and business accounts, lending, buy now – pay later, etc. No wonder that fintech investments are on a rise, especially with so many options to choose from in all corners of the world, which know how to invest and earn money. Genome, as
Money and you
Traditional banks vs. online banking: what to choose
With the emergence of digital banking, more people and businesses start wondering if it’s time to switch to e-banks from the traditional ones. Some people are citing stability as the pro argument for traditional banking, others prefer more tech-savvy Fintechs. Making this kind of decision is not always easy, but Genome’s team is here to help. In this article, let’s look into the advantages of both online and brick-and-mortar banks. And then, we’ll describe their differences so that you can choose which banking format works for you. The benefits and disadvantages of traditional banks These banks are unsurprisingly something all