PayPal Holdings said it will deposit $135 million with “mission-driven” financial institutions (FIs) and managers that help members of minority groups “fight barriers to economic equity.” One of the recipients of the San Jose, California-based company’s financial infusion is OneUnited Bank, which on its website...
BlackRock has announced several new inductees to its philanthropic Emergency Savings Initiative (ESI), which is intended to boost access for low-cost, friction-saving products for financially vulnerable Americans, a press release said. The five new companies joining ESI – ADP, Best Buy, Self, Truist and Varo...
The digital payments and banking technology firm i2c announced on Tuesday (May 18) that it has formed a partnership with the FinTech Zolve, which provides financial services to immigrants who are moving to or visiting the United States. Zolve lets users set up bank accounts...
The Federal Reserve Bank of Atlanta has formed a new special committee to look into ways for those reliant on cash to become more integrated into a digital economy, a press release says. “It is important to make sure that there is not just one...
FinTechs and financial services providers are teaming up to prioritize the advancement of real-time payments in communities served by minority-owned depository institutions (MDIs). The Clearing House (TCH) is separately partnering with Fidelity National Information Services (FIS), with Jack Henry & Associates and with Fiserv to...
Walmart said on Wednesday (April 28) that it is launching “an expanded early payment program” with an eye toward “supporting the long-term growth and success of diverse and minority-owned businesses.” In a press release, the company said that the “new option launches with the goal...
Historically speaking, we haven’t thought too much about the financial habits of people under the age of 18, because kids aren’t legally allowed to be part of the financial system. A minor can open a bank account with their parent as a co-owner, but like...
Headlines may trumpet the digital shift, the return of a booming economy, the tidal wave of eCommerce that has moved to devices, and to a world where one can buy a car with cryptocurrency. But the pandemic also has spotlighted a rift wherein cash still...
In The Connected Economy’s Power Source – CEO Edition, Yossi Zekri, president and CEO of Acuant, explores how more financial institutions and platforms are moving toward embracing crypto to help ensure more inclusivity for the underbanked and unbanked. “By utilizing technology to safely and securely service...