Rego Payment Architectures, Inc. Reflects on a Year of Remarkable Momentum
After a year of empowering financial institutions with technology to grow deposits and increase loyalty, the company celebrates a year of growth, partnerships and innovation
BLUE BELL, Pa., Jan. 16, 2024 (GLOBE NEWSWIRE) -- Rego Payment Architectures, Inc. (“REGO”), the leading white-label family digital wallet platform provider for financial institutions, today celebrates a year of significant growth, impactful partnerships, and groundbreaking innovation.
In 2023, REGO witnessed tremendous progress in validating REGO’s solution as the top choice for youth banking solution for banks and credit unions of all sizes, from $300M to over $300B in assets. Growing deposits and retaining customers continue to be their top priorities as they face challenges from fintechs and neobanks. “REGO is the only solution on the market that allows financial institutions to launch a youth banking product that exclusively promotes their brand, integrates with existing systems, utilizes their BIN, and keeps the deposits on their balance sheets,” said Peter S. Pelullo, CEO at REGO. “Most importantly, banks can assure their families are kept safe as REGO’s platform is the only certified COPPA compliant offering that exceeds state and federal child data privacy regulations.”
Other pivotal milestones for REGO this year include:
Launched integration with Q2's Digital Banking Platform, enhancing accessibility and expanding the reach of its innovative financial management tools to a broader audience.
Testified to the U.S. House of Representative’s Energy and Commerce Committee for the need for stronger child financial transaction data privacy laws, a testament to the company's leadership in the industry.
Released The Rise of Family Digital Wallets report in partnership with Cornerstone, revealing an untapped youth market for banks and credit union and indicating the potential for expanding financial services aimed at younger demographics.
Obtained COPPA and GDPRkids™Privacy Assured Shield Child Safety certifications, solidifying the company's commitment to ensuring the utmost safety and security in managing family finances.
Entered into an exclusive 3-year agreement with ENACOMM to advance the efficiency and security of the company's financial services, establishing them as the company's chosen data integration platform.
Introduced fractional stock investment capabilities to its platform, providing families with the opportunity to explore diverse investment avenues for their financial growth and education.
“Reflecting on the past year, we're proud of the milestones achieved and the strategic alliances forged in our mission to empower families in their financial journeys,” said Pelullo. “We look forward to the new year, where we will continue the expansion of our platform to financial institutions of all sizes and integrate with more strategic partners.”
For more information about REGO, please visit regopayments.com.
About REGO
Rego Payment Architectures, Inc. (“REGO”) is a family digital wallet platform that empowers financial institutions to let their customer's children spend, save, donate and invest in a safe, parent-controlled environment. Founded in 2008, REGO is the only family digital wallet platform to be certified COPPA (Children's Online Privacy Protection Act) and third-party GDPR (General Data Privacy Regulation) compliant. REGO has also been awarded multiple patents related to the safety of parent and child data, including age verification of users. Built from the ground-up to protect the privacy of children's data, REGO offers financial literacy tools for parents to teach their kids to be smarter shoppers, savers, givers and investors. Financial institutions of all sizes can offer a family digital wallet product through REGO as a white-labeled stand-alone application or fully integrated into their existing app.
Safe Harbor Statement:
The information in this press release may contain forward-looking statements on REGO’s current expectations and projections about future events. These forward-looking statements are not guarantees and are subject to known and unknown risks, uncertainties, and assumptions about REGO that may cause the actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by such forward-looking statements. Important factors that could cause actual results to differ materially from REGO’s expectations include, but are not limited to: REGO’s ability to raise additional capital, the absence of any material operating history or revenue, REGO’s ability to attract and retain qualified personnel, the ability to develop and introduce a new service and products to the market in a timely manner, market acceptance of REGO’s services and products, REGO’s limited experience in the industry, the ability to successfully develop licensing programs and generate business, rapid technological change in relevant markets, unexpected network interruptions or security breaches, changes in demand for current and future intellectual property rights, legislative, regulatory and competitive developments, intense competition with larger companies, general economic conditions, and other risks as described by REGO in Item 1.A “Risk Factors” in REGO’s most recent Form 10-K; other risks to which REGO is subject; other factors beyond REGO’s control.
All subsequent written and oral forward-looking statements attributable to REGO, or persons acting on REGO’s behalf, are expressly qualified in their entirety by the foregoing. REGO has no obligation to and does not undertake to update, revise, or correct any of these forward-looking statements after the date of this report.
Media Contact:
Pawan Murthy
Chief Marketing Officer
Rego Payment Architectures, Inc.
pawan@regopayments.com
