Genome.eu

What is Genome

Genome is an online financial platform designed to serve the needs of modern businesses. It operates as an Electronic Money Institution, licensed and supervised by the Bank of Lithuania, with its headquarters in Vilnius. The core purpose of Genome is to provide a comprehensive suite of financial services that are more accessible and efficient than traditional banking. It allows companies to open multi-currency business accounts, perform international money transfers using SEPA and SWIFT, manage corporate Visa cards, and handle finances entirely online. The platform, operated by UAB "Maneuver LT", focuses on security, speed, and user control for everyday business transactions.

Genome Features

• Multi-Currency Business Accounts: Open a primary EUR IBAN account online, then add accounts in other currencies like USD, GBP, PLN, and more. This helps manage international funds and reduce conversion costs.
• International Money Transfers: Send and receive money globally with SEPA and SWIFT transfers. The platform also supports instant internal transfers between Genome users.
• Visa Business Cards: Issue multiple physical and virtual Visa debit cards for your team. These cards can be linked to different currency accounts and used for online subscriptions, ad spend, and business travel.
• Shared Account Access: Grant access to your company's financial accounts to employees or partners. You can assign specific roles and permissions to maintain control over who can view or manage funds.
• Currency Exchange: Exchange money between your different currency accounts directly within the platform. Genome offers a flat fee over the interbank rate for transparent pricing.
• Account Analytics and Statements: Generate transaction reports and account statements in PDF or CSV formats. The platform provides analytics to help you monitor your company's cash flow.
• Mobile and Web App: Manage your business finances from anywhere using the Genome application, which is available for iOS, Android, and web browsers. It includes real-time notifications for all transactions.
• Payment Integration: Connect your Visa cards with Google Pay and Apple Pay for fast and secure payments online and in-stores.

Genome Pricing Plans

Genome offers distinct pricing structures for personal and business users. The Business plan is designed for companies of all sizes, from startups to established enterprises. It includes features such as multi-currency IBANs, corporate cards, team access management, and batch transfers. The pricing is typically based on a monthly subscription fee, with additional fees for specific transactions like international transfers and currency exchange. The Personal plan is for individuals who need a simple way to manage money, make transfers, and use a personal card. The fee structure is tailored for individual use and is generally lower than the business plans.

Genome Free Plan

Genome does not offer a completely free plan for its business accounts. Business users are required to pay a monthly fee to maintain their account and access the platform's features. While there is no free trial period, the sign-up process is free, allowing potential users to go through the onboarding and verification process before committing to a paid plan. Transaction fees apply for most activities, including transfers, currency conversions, and card usage, which is standard for such financial platforms.

How to use Genome

Getting started with Genome is a straightforward online process.

1. Sign Up: Visit the Genome website and sign up for a new account, selecting the business wallet option.
2. Complete Verification: From your dashboard, begin the verification process. This is a required step for financial compliance.
3. Provide Business Details: Fill in all the necessary information about your company, including its legal structure and ownership details.
4. Start Using Your Account: Once your application is reviewed and approved, your EUR IBAN account is activated. You can then start adding accounts in other currencies, ordering virtual or physical Visa cards, and making transfers.

A typical workflow involves using the dashboard to monitor balances, send payments to suppliers using SEPA or SWIFT, and manage employee spending with corporate cards.

Pros and Cons of Genome

Pros:

• Fully digital onboarding process without visiting a physical bank.
• Strong multi-currency support with dedicated IBANs.
• Ability to issue multiple virtual and physical cards for team expenses.
• Shared account access with role-based permissions for better control.
• Fast and low-cost SEPA transfers within Europe.

Cons:

• As an EMI, it does not offer services like loans or credit facilities that traditional banks do.
• Some advanced features like merchant services are still in development.
• Fees are charged for many transactions, which can add up for businesses with high volume.
• Customer support is primarily online, which may not be ideal for everyone.

Genome integrations

Genome provides key integrations to facilitate smooth payment processes for businesses. The primary integrations are:

• Google Pay: Users can add their Genome Visa cards to Google Pay for quick and secure contactless payments with Android devices.
• Apple Pay: Genome Visa cards can be integrated with Apple Pay, allowing for easy payments using an iPhone, Apple Watch, or other Apple devices.

While direct integrations with accounting software or other business platforms are not explicitly listed, the ability to export transaction data in CSV format allows for manual integration with many financial management tools.

Genome Alternatives

• Wise (formerly TransferWise): A strong competitor known for its low-cost international money transfers and multi-currency accounts. It is ideal for businesses that frequently deal with different currencies.
• Revolut Business: Offers a broad range of financial tools, including multi-currency accounts, corporate cards, expense management, and payroll services, making it a comprehensive financial platform.
• Payoneer: Focuses on cross-border B2B payments, making it a great choice for freelancers, service providers, and online sellers who work with international clients.
• N26 Business: A mobile-first bank popular among freelancers and self-employed professionals in Europe. It offers streamlined business accounts with useful features for sole proprietors.

Genome API

Yes, Genome provides a developer API that allows businesses to integrate Genome's financial services directly into their own applications and workflows. The API can be used to automate payments, manage accounts, and build custom financial solutions. Developers can access the API documentation through the "Developers" section on the Genome website. To get an API key, you typically need to create a business account, navigate to the developer portal within your dashboard, and generate the necessary credentials.

Here is a conceptual example of an API call using cURL to check an account balance:

curl -X GET 'https://api.genome.eu/v1/accounts/YOUR_ACCOUNT_ID/balance' \
-H 'Authorization: Bearer YOUR_API_KEY' \
-H 'Content-Type: application/json'

Genome Affiliate program

Genome offers a Referral Program for its business clients. It is not a traditional affiliate program but functions in a similar way. Existing business users can find a custom referral link in their dashboard. When they share this link with other companies or partners, and those companies sign up and open a Euro IBAN, the referrer earns commission bonuses. These bonuses are based on the new client's financial activities, such as their incoming and outgoing transfers and currency exchange operations. The commissions are typically credited directly to the referrer's Genome account.