• Thu. May 26th, 2022

Euphoria Enlists Jiko For Power Bliss, A Mobile Banking App For The Transgender Community

BERKELEY, Calif., November 17, 2021 / PRNewswire / – Jiko, a modern banking platform with easy API access that enables businesses to integrate financial services tailored to their customers, announced that Euphoria uses its platform to launch Bliss, a banking app for the transgender community??.

Euphoria provides technology to the transgender community to help alleviate the challenges associated with gender transition. For a community that continues to face social and institutional discrimination, the world of financial services is no exception, with stringent identity verification requirements that limit access to products. Considering the costs and constraints of gender transition, Euphoria’s launch of Bliss is a big step for the transgender community that enables easy digital access to secure financial services.

“I expect Bliss to be successful, and by the end of Euphoria’s journey, Jiko will have accomplished one of the most difficult jobs in making day-to-day finance work for one of the most stigmatized communities in United States,” noted Robbi katherine anthony, CEO and founder of Euphoria. “If you can build a banking platform that puts money back in the pockets of our users while helping us create savings programs that work for trans people, you can build and manage a platform. form of funding for anyone. Euphoria is now able to focus on providing our community and our users with the best possible experience, and Jiko handles all of the banking backend. “

How Jiko Works

Jiko operates a single deposit model. It starts with owning a bank and a brokerage and integrating a full technology stack with both to power operations. Rather than storing money in a bank account, client funds are automatically invested in government-guaranteed treasury bills. When these funds need to be accessible, they can be liquidated in real time. As a result, clients can feel secure knowing that their funds are never loaned, always available, and potentially rewarding. Meanwhile, Jiko can accommodate any amount of customer deposits as its unique model circumvents the capital constraints faced by traditional banking partners. Jiko offers direct access to this deposit model through its API, and Euphoria is the first to bring these benefits directly to its customers.

Thanks to Jiko, Euphoria can:

  • Provide highly personalized and flexible financial services tailored to the unique needs of its community. For example, an immeasurable benefit for the Euphoria community is the customization of the Bliss KYC feed to open accounts for those whose visual representation does not match their government documents. Euphoria struggled for a traditional banking partner to adjust to this.
  • Launch Bliss in just a few months. Aligning with traditional partner banks would have taken 12-18 months of software implementation and development at a cost of over $ 1 million. Fast-paced businesses that want to offer banking services don’t have the luxury of spending time trapped in long integration cycles.
  • Streamline supplier management with Jiko’s full-stack approach. This eliminates the need for external partner banks and enables advanced customization. The advantages provided by Jiko are full vertical integration and reduced implementation costs which combine to help eliminate inefficiencies.
  • Improve profitability and economy. Jiko’s business model gives the total exchange income from card transactions to partners and their customers.

A great digital money experience is difficult to create. This problem would have been fixed years ago if it was just technology or seamless developer integrations. Instead, Jiko enables its customers and partners to run mobile banking apps first that their customers are familiar with while using a deposit model that removes all potential and future money storage requirements. The result allows businesses, brands and communities to focus solely on the needs of their users.

“All signs point to an immediate future where fintech is the center of every vertical and every community, and Euphoria is no different,” said Stephane Lintner, CEO and co-founder, Jiko. “We have a huge opportunity to provide large-scale personal money storage by integrating our digital product into your favorite brands, traditional banks and other fintechs. Because of the way Jiko built her stack of products, we basically have an infinite scale. Jiko can help any business or individual who needs to store, save and spend money securely and on a large scale. ”

About Jiko
Jiko is a modern banking and investment platform that enables innovative businesses to integrate the storage and movement of money seamlessly into a great customer experience. With Jiko, any business can efficiently store and move its own money, while providing customers with secure, fluid, transparent and flexible banking features. Companies are leveraging Jiko’s T-Bill model to increase financial efficiency, deepen customer relationships, reach financially underserved populations, and contribute to a more stable financial system as a whole.

Media contact:
Colin Crook, Jiko Communications
e: [email protected]
phone: 650-269-5235

1. Jiko, owned and operated by Jiko Technologies, Inc., provides a unique combination of financial services provided by Jiko Technologies and its affiliates, Jiko Securities, Inc., a registered broker and FINRA / SIPC member, and Jiko Bank , a division of the Mid-Central National Bank, a member of the FDIC. Jiko Securities, Inc .: Accounts:

Not insured by the FDIC; No bank guarantee; May lose value. See FINRA BrokerCheck and Jiko U.S. Treasury Bill Risk Disclosure.


Related links