Australian emerging financial technology company Geniusto International Ltd. is set to launch its social banking service called ePera (eMoney) to the Philippines.

Shane Hermans, Geniusto International founder, CEO and managing director told Cryptovest that the Social Banking Platform, ePera, will leverage blockchain for KYC /AML in order to help banks streamline their client onboarding processes. Geniusto also intends to utilize tokens as part of their loyalty program to enhance the peer-to-peer social banking experience, while providing social banking to the community and family-oriented groups.

“The logic of payments is the same in all banking systems,” said Hermans. But what makes ePera unique is it allows users to transfer and send money and at the same time set up group payments. This means that a group of individuals can pool their money to buy goods or services using their online accounts.

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This article appeared first on Cryptovest

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