A growing number of banks and fintechs are using digital banking platforms to meet the unique challenges and needs of individual communities.
Unconstrained by geography, these financial institutions can extend their reach and solve previously unsolved problems for particular consumer groups.
There are banks and fintechs that offer banking platforms for Black Americans, the LGBTQ+ community, disabled Americans, doctors, freelancers—the list goes on. Some of these institutions are newcomers on the scene. Others have been around for decades but are now able to leverage digital technology to help their communities and drive real financial change.
“That’s what’s important about digital banking,” says Kevin Cohee, chairman and chief executive officer of OneUnited Bank. “Yes, it offers all of these very important benefits to consumers to make their lives easier and to make them better stewards of their money—it certainly does that—but the big deal is this changing our overall society,” he says.