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Geniusto brings social banking to the Philippines

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Geniusto, in cooperation with its partner One Way Sp. z o.o., has introduced the fast trending and successful social banking to the Asia Pacific region. The company aims to bring distinguished features of social banking, including community and family orientated groups, market place and peer-to-peer social banking to the people of the APAC region.
Hailing from Australia, Geniusto is an emerging international fintech company that is building a reputation of providing innovative technology-based solutions in banking and finance.

The new social banking platform ePERA will give first mover advantage to selected banking partners who wish to leverage on social buying trends as part of their digital life.  The social banking platform is designed for digital traditional and nontraditional banks and brings a wide range of features and opportunities for banking clients and business partners.

This is a product that amalgamates banking services in a marketplace of non-financial products in order to increase turnover, customer engagement, income of business partners, numbers of clients, and their loyalty to the service. In ePERA, every service comes together to create a robust ecosystem that benefits all stakeholders.

ePERA enables banks and businesses to increase the value proposition of the financial services offered through a multitude of innovative features which include:
Social banking service – enables banks to bring their users online encouraging and incentivizing them to interact with financial institution’s products and services. This will be mutually beneficial for both the business and the consumer.

One of the key aspects of the ePERA social banking is its non-financial appeal. Banks will discover new revenue channels through the sale of non-financial products, while customers will find more value and convenience in their relationship with the financial institution.

Through higher engagement and effective upselling techniques, financial institutions will find themselves in a position to increase their revenue through additional sales of existing financial products to acquired customers while possessing the potential to hire more customers.

This will also result in consumers finding the right product at the right price bringing convenience and value to their financial transactions.

Having social banking actively projects the soft and consumer-friendly social image of the financial institution. Most people think of banks and other financial institutions and their services as being culturally cold. This service will help disabuse and reframe the brand image.

There are many prejudices about the banking sector among the masses, including that they ostensibly extort from customers to stay highly profitable. Warming up to customers and having social and human interactions with them will ensure that upcoming generations, including the millennials and Generation Z, will associate banking and financial services with the trustworthy management of one’s personal finances.

This will also help the banks open an informal channel of communication with their customers, to receive feedback and effectively communicate their services and other aspects of the business.

The program will also introduce a new marketing platform for businesses where they can showcase the financial and non-financial products of other businesses and with this open up another channel of accumulating revenue.

Payment remains one of the stiff challenges, especially in developing countries. This program will bring P2P payment solutions along with the marketplace of non-financial products.

ePERA also introduces an innovative approach to selling goods for businesses through personal advisors. Because of the customized service, this will be a more effective selling tool than traditional e-commerce models.

The social banking revolution is already happening around the globe and Geniusto’s presence in the Asia Pacific region will further globalize the process. We are moving toward a world where customers do not settle for anything that’s less than the best. This revolutionary program, originally created by our partner One Way Sp. z o.o., together with Geniusto, will empower financial institutions to design services that are more consumer oriented while giving customers the opportunity to be heard, valued, and understood, which is the true essence of social (emotional) banking. This will enable all stakeholders to forge lasting relationships rooted in social and financial interests where each party would find itself in a better position to understand the other.

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