Genesis Bank & Fiserv team to strengthen SMBs in local communities

By Gloria Mathias

Fiserv, a global provider of payments and financial services technology, has partnered with Genesis Bank, a diverse multiracial Minority Depository Institution (MDI) in the country, to drive economic empowerment and create positive impact in local communities.

Through this partnership, small businesses located primarily in low-to-moderate income (LMI) communities served by Southern California-based Genesis Bank will have access to customised technology bundles.

Specifically designed to address challenges faced by these businesses, the bundles will provide access to select Clover point-of-sale (POS) technology from Fiserv with no or low entry costs and significantly discounted subscription fees.

“We are incredibly excited to be partnering with Fiserv to offer this low-cost retail solutions bundle to small- and mid-sized businesses,” said Stephen H. Gordon, Chairman and CEO of Genesis Bank. “As the underlying nature and complexity of technology continue to evolve, gaining access to advanced POS systems has become essential for businesses to effectively operate, compete, and grow. Genesis Bank recognises the cost burden as a significant barrier to gaining access to such essential technology, especially for the diverse small business owners and entrepreneurs that have historically been underserved. Accordingly, we believe this affordable Clover offering will further support our mission to make an impact in the diverse, entrepreneurial LMI communities we serve across Southern California.”

“The best way to help small businesses is to meet them where they are, and many of our MDI clients are already there,” said Neil Wilcox, Head of Corporate Social Responsibility at Fiserv. “By partnering with Genesis Bank, we can support their growth and help maximise their impact by providing critical financial technology resources to the businesses that play a meaningful role in creating the vibrant and entrepreneurial communities that comprise Southern California, the second largest and most diverse demographic in the U.S.”

The Clover point-of-sale and business management system from Fiserv enables small- and mid-sized businesses to accept payments and run their businesses, while also offering capabilities to enhance the customer experience and streamline operations.