This achievement is part of the company’s vision to provide greater financial inclusion via simplified access to banking services for the un(der)banked. Part of this approach is to level the digital playing field for smaller financial institutions to compete against bigger players – future-proofing both banks and customers.
“With more than 40 completed banking projects in 25 countries since 2015 Geniusto is positioning itself as a global contender in digital banking solutions. This award is a milestone for the team, we are very pleased to be awarded “the Best New Digital Banking Solutions Provider” & the “Most innovative Digital Banking Solutions Provider in 2020 by ‘The Global Economics Group in the UK. This has been a big inspiration to the entire group and our global partners. Our recent win of a new NEO banking project in the UK will be announced very soon, and we hope this serves to bolster further digital banking projects in ASEAN and North America.”
-Shane Hermans, CEO, Geniusto
DX (Digital Transformation) Workshop for financial Institutions and businesses
To achieve these two awards, Geniusto has launched the Digital Transformation (DX) Workshop that was held last November 18, 2019. More than 50 various participants from different banks and financial institutions joined the workshop. The main objective of the workshop is to introduce digital transformation to increase the pace of doing business and improve adaptability to fast and growing change in financial businesses. It is also designed to enhance and improve business strategies for financial institutions such as banks, cooperatives, and other businesses in the financial sectors within the Philippines.
The workshop put emphasis on the Digital Transformation Strategy framework, Change Management, Communication Management, as well as Program and Project Management. With the help of an internationally recognized speaker Aleksander Wyka who is an expert in digital transformation and enterprise architecture, the participants were given the chance to have a good purview of what is ahead with digital transformation.
After the success of the first DX workshop, Geniusto organized a second 4-day workshop to be conducted this coming November 23-26, 2020 via Online to help more banks and financial service institutions to learn how to form and execute a DX playbook that will enable them to keep up with the fast pace modernization in the financial business.
In line with its objectives to bring innovation to the banking institution, Geniusto provides solutions that will accelerate economic growth by simplifying access to banking services, leveling the digital playing field for smaller financial institutions, and future proof technology investments of financial institutions.
The following are the out-of-the-box platforms that Geniusto provides:
First is the OmniPLUS+ which is an omni-channel banking platform that consists of mobile and web application sitting on top of a powerful hub technology which enables to interact with legacy bank systems and different service providers. This technology will reshape the retail banking system because of its out-of-box functionality. It is specifically designed for a smooth and simple user experience. It can also be integrated seamlessly with other banking systems. The platform also ensures that it has a future-ready technology for quick evolution. Lastly, it can also access e-commerce and merchant services.
When it comes to core banking Geniusto also provides the CorePLUS+. It is a core banking platform that has an advanced business rules orchestration, payment services integration, and analytics that allows banks to develop and deploy products and services pro-actively. This platform was created to help the banks fundamentally change how it delivers value to customers. Through the Omni-channel platform it will enable the banks to accelerate innovations in terms of services and products. It has also easy integration features to fit different business models in banking.
In addition to its advance and innovative features, Geniusto also gives significant importance to fraud monitoring and AML compliance. The platform integrated solutions such as customer information and document verification, customer risk profiling, risk database, whitelists, transaction screening, and monitoring, and lastly the reporting. This is to ensure that transactions made with the bank are well monitored from the risk of financial crimes.
Another platform that Geniusto offers is an easy, accurate, and end-to-end online lending software which is the LoanPLUS+ for loan origination and loan management. This platform is serviced-based, and cloud Enabled that supports multi credit providers. Moreover, it is also designed to be highly configurable to satisfy client’s demands and needs. This platform will enable a business to conduct loans through this for clusters of processes which are the origination, servicing, management, and reporting. With these processes integrated into this platform, it will help businesses to increase their employee productivity, comply with the regulatory requirements, and provide consolidated business reports. It can also increase income opportunities through up-selling and cross-selling products to potential customers.
Launching of Social Banking Platform ePera
Aside from the abovementioned platforms, Geniusto also introduces the upcoming platform called ePera. ePera is a social banking platform that aims to connect banks and financial institutions to real businesses and the community. This platform is not only limited to financial transactions, but it will also connect users to non-financial products without the need to go out of the platform. These features will bring convenience to customers especially during this time of pandemic where face-to-face transactions are limited. Most importantly through this platform, online social interaction is created not only with financial institutions but also with other consumer-related businesses removing the social barrier within the community and adding value to the quality of life.
As Geniusto continues with its endeavor to become a leader in digital transformation across the region, the commitment to deliver innovation and laying foundations of digital banking that started already in countries such as the Philippines, Malaysia, and Indonesia will progress and will continue to help financial institutions to thrive to the future.
“Our recent win of a new NEO banking project in the UK and digital banking projects in the Philippines, our strategy is to bolster further digital banking projects globally. Earlier this year we established our new Headquarters in Singapore together with our operations in the Philippines will act as a springboard into ASEAN helping financial institutions access needed technology to improve economic growth and financial inclusion.”
-Shane Hermans, CEO