Genie 8.7.11

Genie: An Overview of a Comprehensive Financial Application

Genie represents a unified mobile platform aimed at streamlining personal financial management. Developed by Dialog Axiata PLC, Sri Lanka’s dominant telecommunications provider with a significant market presence, the app offers secure and convenient access to various financial services. Dialog Finance PLC, a subsidiary of Dialog Axiata PLC and publicly traded entity regulated by the Central Bank of Sri Lanka, supplies the banking products integrated within Genie. The subsidiary maintains a Fitch rating of AA(LKA), underscoring its creditworthiness.

The application facilitates several core financial functions remotely:

• Secure contactless payments via LankaQR-enabled merchants, utilizing linked bank accounts or eZ Cash wallet.
• Opening and managing digital savings accounts tailored to individual savings goals.
• Control over Mastercard features, including card freezing, spending limit settings, and account management within the app.
• Investment options such as goal-based savings accounts, fixed deposits, stocks, and mutual funds for portfolio management.
• Bill payment capabilities covering over 90 billers for quick and secure transactions.
• Management of the eZ Cash wallet—sending and receiving funds, topping up the wallet, and other mobile money services.

Loan offerings on Genie encompass various terms and conditions:

1. Loan durations range from 90 days to five years.
2. Interest rates start at approximately 25% per annum for quick loans or Lesi Pay, with rates reaching up to 49% per annum depending on factors such as market conditions, deposit costs, risk profile, collateral, and loan tenor. Fixed deposit-backed loans add a margin of 2.5% over the FD rate.
3. Processing fees are one-time charges varying from 0.5% to 5%, contingent on the loan type.
4. A standard equal monthly installment approach is used for repayment calculations, exemplified by a LKR 50,000 loan over 180 days at a 25% interest rate resulting in an approximate monthly installment of LKR 8,951.41. The total repayment amount would include the principal, interest payments totaling approximately LKR 3,708.46, and applicable processing fees.

Security measures incorporated into Genie ensure user data protection and transaction safety:

• Implementation of advanced encryption protocols to safeguard sensitive information from unauthorized access.
• Biometric authentication options, including fingerprint and facial recognition, for convenient yet secure account access.
• Two-factor authentication adds an extra layer of security through verification processes.
• Real-time fraud detection algorithms monitor transactions proactively to prevent fraudulent activities.
• Routine security audits are conducted to identify and mitigate vulnerabilities continuously.
• The platform complies with relevant regulations such as MBSS, PCI DSS standards, and the Personal Data Protection Act No. 9 of 2022 to uphold data privacy and security protocols.
• A dedicated customer support team is available around the clock to resolve security-related inquiries promptly and maintain a seamless user experience.

Please note that eligibility criteria and specific terms govern loan products available through Genie.

Consider exploring Genie today to enhance your financial management capabilities with confidence and security.