Jiko to launch a banking app for the transgender community

Jiko fintech startup which uses customer deposits to purchase short-term treasury bills, announced its first banking-as-a-service (BaaS) client today. It will partner with Euphoria,  technology for the transgender community to alleviate the struggles associated with gender transition, to launch a banking app named Bliss.

Between 2-6 million people in the United States are transgenders, and 34% lack identification to match their gender, making it harder for them to access banking service , the company wrote in its press release. Most banks’ compliance processes do not accommodate individuals in this situation, but Jiko worked with Euphoria to customize the “know your customer” process for Bliss for users to open accounts with other forms of verification.

 

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