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Greenwood, a U.S. digital banking platform, introduced on Thursday it noticed 100,000 sign-ups in the course of the first week of its launch. Based earlier this yr, Greenwood describes itself as a cellular banking platform for Black and Latinx individuals and enterprise homeowners. The startup claims to function the “best-in-class” digital banking companies and progressive methods of giving again to the group. Its founders embody civil rights legend Andrew J. Younger, former U.S. Ambassador to the United Nations and former Mayor of Atlanta; Michael ‘Killer Mike’ Render, rapper, businessman, and activist in Black monetary empowerment; and Ryan Glover, Greenwood Chairman and founding father of Bounce TV community.
Whereas sharing extra particulars concerning the platform, Glover said:
“This unimaginable reception highlights the necessity for a brand new monetary companies platform that understands the Black and Latinx group, a platform constructed by us and for us, a platform that helps us construct a stronger future for our communities. Greenwood clearly is an concept whose time has come — trendy banking for the tradition.”
Greenwood additionally famous that its preliminary merchandise are financial savings and spending accounts that include a stunningly designed black metallic debit card for purchasers who enroll by the tip of the yr.
“Superior options like Apple, Samsung, and Google Pay, digital debit playing cards, peer-to-peer transfers, cellular verify deposits, and free ATM utilization in over 30,000 places might be supplied with no hidden charges. Clients who invite their mates to open accounts obtain money awards as a thanks from Greenwood.”
Greenwood shouldn’t be a member of the Federal Deposit Insurance coverage Company. Banking companies might be supplied by FDIC-member banks. Deposits might be FDIC-insured by a associate financial institution. Greenwood added it plans to work with brick-and-mortar minority-owned banks to offer services that can assist strengthen traditionally Black banks.
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