Following this collaboration, ENACOMM’s Open API stack provides REGO with access to banking cores throughout the US to offer financial institutions its certified COPPA and GDPR-compliant white-label family wallet.
As a digital family wallet platform that is certified COPPA and GDPR-compliant, REGO is primarily built as a white-label solution for banks and credit unions no matter the size. Due to the agreement with ENACOMM, REGO is enabled to integrate with banking cores leveraged by financial institutions throughout the US.
Furthermore, banks and credit unions now have the option to provide REGO’s secure, parent-control banking platform to children under 17 at multiple methods of integration of the likes of a customised standalone app or fully integrated into an existing application.
Commenting on the news, Peter S. Pelullo, CEO and co-founder of REGO advised that since its founding, the company had the priority to ensure that REGO’s family wallet platform would integrate with a multitude of core systems of its financial institutional customers. The spokesperson stated that the company selected ENACOMM’s Open API solution due to its flexibility, security, and usability, providing them with access to all leading banking cores in the US.
Adding on the collaboration, Michael Boukadakis, CEO of ENACOMM said that the demand for a secure family digital wallet such as REGO’s does not show signs of decreasing, and financial institutions that would have previously been unable to provide their customers with such a product are now enabled to do so in an increasingly simplified manner with the integration into banking cores made possible by ENACOMM.
A family-oriented solution provider, REGO is a privacy-first platform known for its super app, Mazoola, which allows parents and guardians to enable online shopping or digital spending at approved retailers, control what funds are available for which purchases, and reward children or pay allowance via the app.
The announcement details that in line with the mounting pressure for increased safeguards of children in the online space, as well as the mobile wallet space prediction of exceeding USD 3.5 trillion by 2023, REGO provides FIs with an opportunity to offer a digital wallet app experience that is safe and secure to build lasting, engaging relationships with families.
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