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Rego Payment Architectures, Inc., along with its subsidiaries, operates as a technology company offering an online and mobile payment platform solution for families. The company's system enables parents and children to manage, allocate funds, track expenditures, savings, and charitable giving through a mobile app and web portal. The payment platform also ensures real-time regulatory compliance and safeguards vendors from inadvertent regulatory violations. Products are offered under the Oink brand name. Founded in 2008, headquartered in Blue Bell, Pennsylvania.
Rego Payment Architectures (OTCQB: RPMT) has announced its integration with the Jack Henry digital banking platform, making its white-label youth banking solution accessible to approximately 7,500 financial institutions. The integration leverages the Banno Digital Toolkit to embed REGO's technology into digital banking experiences.
The collaboration aims to provide financial institutions with a secure platform for children aged 5-17 to earn, spend, save, donate, and invest under parental supervision. REGO's platform is certified for child data privacy compliance at both state and federal levels, including COPPA and GDPR certifications.
Cornerstone Advisors released a report highlighting a $1 billion revenue opportunity for financial institutions through Senior Financial Management (SFM) tools. These digital banking products help adult children manage elderly parents' finances and protect against fraud. The study reveals that 40% of Americans with parents over 60 manage their parents' finances, while elderly financial fraud totaled $38 billion in 2023. Over 70% of respondents expressed interest in such tools. The report comes as the Boomer generation prepares to transfer $70 trillion in wealth to their heirs.
Rego Payment Architectures (OTCQB: RPMT) has selected Bangor Savings Bank as its banking services provider for its youth banking platform. The partnership enables financial institutions to offer a white-labeled youth banking app through REGO, targeting families who aren't current customers. The platform allows parents to manage their children's financial activities including earning, spending, saving, donating, and investing. REGO is the only white-labeled youth banking platform certified to exceed COPPA compliance requirements, offering financial institutions a branded solution to attract new customers through youth accounts while providing financial literacy tools.
Lumin Digital and Rego Payment Architectures, Inc. (OTCQB: RPMT) have announced a strategic partnership to offer youth banking solutions to financial institutions. Lumin's network of banks and credit unions can now launch a parent-controlled, COPPA-compliant family digital wallet product using REGO's white-label platform. This partnership aims to provide innovative solutions for financial literacy, targeting Generations Z and Alpha (children aged 5-17).
The collaboration allows Lumin's clients to offer a secure youth banking experience designed to help children spend, save, donate, and invest under parental supervision. REGO's platform is certified to exceed the strictest state and federal child data privacy laws, including COPPA and GDPR compliance. This partnership addresses the growing need for financial literacy tools among younger generations and provides financial institutions with a strategic advantage in increasing deposits and customer loyalty.
Rego Payment Architectures, Inc. (OTCQB: RPMT) has announced its official support for the Kids Online Safety and Privacy Act (KOSPA), which recently passed the Senate. KOSPA aims to enhance children's online safety and privacy by mandating technology companies to implement robust safety measures. REGO, a provider of a family digital wallet platform, emphasizes its commitment to creating a secure environment for children's financial activities.
The company's platform is certified COPPA and GDPR compliant, ensuring high standards of data privacy and security. REGO's Senior Advisor for Cybersecurity and Privacy, Donald Codling, provided testimony to the U.S. House of Representatives on the importance of stronger regulations to protect children's financial data and privacy. The company views KOSPA as a significant step towards establishing a safer digital environment for future generations.
Rego Payment Architectures (OTCQB: RPMT) has won the Banker's Choice Award at the ICBA ThinkTECH Accelerator showcase on July 24, 2024. The award, sponsored by Fiserv, recognizes REGO as the most promising solution among fintech companies presenting at the event.
REGO offers a white-label family lifecycle platform for financial institutions, helping kids manage money within a parent-controlled environment. The company participated in a 10-week accelerator program, receiving mentorship and refining its solution based on feedback from community bankers and industry leaders.
This recognition affirms REGO's commitment to developing innovative solutions for community banks. The ICBA ThinkTECH Accelerator has connected over 1,400 community bankers with fintech companies to address modern banking needs since its inception.
Rego Payment Architectures and Computer Services have entered a strategic partnership to offer REGO’s family digital wallet to CSI’s network of community financial institutions. The wallet, compliant with COPPA and GDPR, will allow children to manage their finances under parental supervision, aiding financial literacy. REGO aims to leverage CSI’s extensive network to expand its reach. The family wallet has multiple patents ensuring data safety and privacy, enabling children to spend, save, and invest securely.
Rego Payment Architectures (OTCQB: RPMT) has completed its Series B Preferred Stock private placement, raising an additional $3.5 million through the sale of 38,889 shares. This finalizes their $25 million Series B offering, bringing the total capital raised by the company to over $100 million. CEO Peter S. Pelullo stated that the recent funding, combined with a $20 million line of credit, will support the company's 2024 strategic goals. REGO offers a family digital wallet platform certified by COPPA and GDPR, enabling children to manage finances in a secure, parent-controlled environment.
Rego Payment Architectures, a leading white-label family digital wallet platform provider (RPMT), has been selected to join the ICBA ThinkTECH Accelerator Program to develop family-focused mobile banking solutions for community banks. The program aims to address key areas such as onboarding, analytics, automation, and compliance, providing important support to community banks nationwide. Rego's youth banking platform emphasizes data privacy protection for children, compliant with COPPA. The program connects innovative fintech companies with community bankers for mentorship, culminating in live demos.
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