Fiserv and Genesis Bank are partners.

The US-based Genesis Bank has declared that it is collaborating with Fiserv to enhance economic growth and create a beneficial influence on nearby communities.

Madilyn Swift

February 21, 2024

2Min Reads

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Banking

Customised technology bundles will be made available to small enterprises and firms that are largely situated in low-to-moderate income (LMI) neighbourhoods that were serviced by Genesis Bank after this announcement.

The packages were created with the goal of giving these companies' and clients' access to specific Fiserv Clover Point-of-Sale (POS) technology, addressing the difficulties they frequently encounter. There will be little or no admission fees for this process, and subscription rates will be much reduced.

Additional details about the collaboration

Genesis Bank is a state-chartered commercial financial institution located in California that offers a wide range of safe services to its small and medium-sized enterprise (SME) clients, as well as their owners and investors. This covers typical commercial business, loans for owner-occupied commercial real estate, deposit products, income property, Small Business Administration (SBA), and treasury administration.

Giving consumers access to reliable and secure point-of-sale (POS) systems has become a crucial tactic for companies looking to stay in business, stay competitive, and expand in a field where technology's fundamental nature and complexity are always evolving. Genesis Bank observes that the expense burden poses a major obstacle and difficulty in the process of obtaining access to such crucial technologies, particularly for the underrepresented minority small company owners.

With the Clover offering, entrepreneurial LMI communities in the UK will be able to accelerate their development processes even more, and the financial institution will expand its collective reach to include enterprises that require such software and technology.

Firserv and Genesis Bank's cooperation is also anticipated to optimise the company's effect by giving them access to vital financial technology resources, such as companies that play a significant role in creating safer and better communities for entrepreneurs.

Fiserv's Clover Point-of-Sale and business management system will be used to help small and medium-sized businesses (SMBs) operate their enterprises safely and effectively in addition to accepting payments. Simultaneously, it is designed to enable businesses to offer their clients fresh approaches to enhance their experience and simplify processes.