By Victor Omondi
A new digital bank owned and managed by Black and Latinx are out to make supporting Black-owned banks and businesses a little easier for consumers. Together with his close friend, rapper-activist, Michael “Killer Mike” Render, Bounce TV founder, Ryan Glover created the Greenwood which was launched on Thursday.
The executives of Greenwood, comprising of former Atlanta Mayor, Andrew Young revealed their new platform on Thursday, after collecting more than $3 million in seed funding in June.
While Glover has been working on Greenwood since 2019, he says that he became more interested in the venture, following the police killing of George Floyd, an unarmed Black man.
The death of Floyd and other Blacks has inspired many Americans to support Black-owned businesses and financial institutions and fight racial inequality in different sections in the corporate world.
Even though the bank will open in January, the company launched its website on Thursday and there’s a waiting list for anyone who would like to open a Greenwood account.
“I will say we’re in the tens of thousands,” Glover told CNN Business on Friday. “That number is increasing by the day.’
Just like Chime, Money Lion, and Vero, Greenwood is a digital bank whose financial services are all conducted online. That includes checking and savings accounts, mobile deposits, including peer-to-peer transfers. Additionally, the bank offers a global ATM network, Apple and Android Pay services, and for customers who sign up for a direct deposit, there are two-day advances on paychecks.
Source: Killer Mike’s New Black-Owned Bank Receives Thousands Of Account Requests in Less Than 24 Hours
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