Digital banking platform Greenwood seeks to serve communities traditionally ignored by the financial sector, particularly Black and Latinx communities.

Why should we care?
Greenwood is founded by Andrew J. Young, who is a former U.S. Ambassador to the United Nations, and former Mayor of Atlanta; rapper and activist Michael Render; and Ryan Glover, founder of Bounce TV network. Its emergence comes at a time when the financial industry is being scrutinized for its lack of diversity and outreach to communities of color. Greenwood says it will offer its customers virtual debit cards, peer-to-peer transfers, mobile check deposits, and free ATM usage in over 30,000 locations. It will also offer customers opportunities to give back through spare-change roundups. Greenwood’s emergence speaks to larger systemic challenges within the financial industry, issues incumbents are beginning to acknowledge. For example, this week JPMorgan Chase made a $30B commitment it says will help address U.S. wealth inequality, especially in underserved Black and Latinx communities.