GenMo’s Family Banking, Youth Banking, and Financial Literacy solutions are now available on Temenos Exchange
October 2, 2024
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Temenos Exchange clients can now access GenMo’s plug-n-play family banking, youth banking, and financial literacy solutions to offer their customers a convenient way to manage family finances and access financial education through an engaging embedded mobile app experience.
GenMo, a leading provider of family financial management, youth banking, and financial literacy solutions today announced that their white labelled Family & Youth Banking Personalization (FBP) and Financial Literacy Integration (FLI) solutions are now available on Temenos Exchange, the partner ecosystem of integrated fintech solutions.
Financial management needs of a family unit are much more diverse compared to the needs of an individual. While banks offer financial products for individual family members such as minor accounts, senior accounts, women accounts, and others, there is no unified digital engaging experience that brings everything together. GenMo’s Family & Youth Banking Personalization (FBP) solution is a transformative and holistic way to service all family financial management needs equipped with an independent parent-child interface, pocket money management, individual and family saving goals, budgeting, flexible parental supervision and spend control tools offered in a unified platform experience. It offers Temenos clients a plug-n-play solution to engage complete family units and acquire young customers early utilizing existing financial products embedded within the bank’s mobile app.
Delivering financial literacy continues to be a key priority for banks and GenMo’s Financial Literacy Integration (FLI) enables banks to offer bite-sized, engaging, and age-adaptive financial education content to its customers through a gamified interface experience with built-in rewards. Banking customers struggle with utilizing banking products/services that best suit their needs due to lack of financial literacy, and offering engaging financial education to end-users can help banks increase product uptake and new acquisition and retention while making a significant social impact.
Temenos Exchange brings innovation to market faster, and at scale. The ecosystem offers pre-integrated and approved fintech solutions that can be easily deployed on top of Temenos’ open platform for composable banking, enabling banks to accelerate the creation of new financial services, while reducing the costs of development.
Martin Bailey, Director of Innovation and Ecosystems, Temenos, said: “Temenos Exchange acts as an accelerator for fintechs and software developers, helping them develop, validate and monetize new banking solutions. The integration with Temenos and joining Temenos Exchange means GenMo can write once and be readily available to banks globally that run on our platform.”
“At GenMo, we’re committed to helping families and young people understand and manage their money better. Our white-labelled solutions enable banks to deliver engaging family financial management, youth banking, and financial literacy experiences to their customers without any technical weightlifting.” said Mohsen Siddiqui, CEO at GenMo.
He further added:
“As more families look for holistic financial management solutions on digital platforms and banks focus on acquiring younger customers and delivering financial literacy for its users, GenMo’s availability on Temenos Exchange further extends our commitment to the banking community and enables Temenos clients to offer their customers impactful financial management and literacy experiences. We look forward to leveraging the power of the Temenos platform to revolutionize the way families and youth bank and understand money management and to help us achieve our business goals.”
About GenMo
GenMo Tech is a family fintech company on a mission to empower families with young kids through digital financial literacy and management tools. GenMo enables banks to offer engaging family banking, youth banking, and financial literacy features as a white-labelled solution through an embedded mobile app experience, leveraging GenMo’s product stack to service diverse family and youth financial management needs and deliver gamified financial literacy.
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