Greenwood, the digital banking platform for Black and Latino individuals and businesses, announced the launch of its General Access platform – expanding Greenwood’s spending, saving, and financial services to all after successfully enrolling all interested waitlist users.
Three years after launching in 2020, this official expansion will enable Greenwood to meet its ambitious growth goals and expand its existing community of over 500,000 ecosystem members.
Despite the recent headwinds in the banking and financial services industry, Greenwood stands today as one of the largest Black-owned banking platforms nationwide—providing its customers with unique tools, education, and community to empower Black and brown people. By expanding its platform to the general public, Greenwood aims to further address the barriers to wealth creation that stand in the way of Black and brown Americans.
“In keeping with our original mission to close the racial wealth gap and address the exclusion Black and brown Americans have faced accessing tools for wealth creation, we’ve worked incredibly hard over the last few years to build a platform ready to take on the challenges that face our communities,” said Ryan Glover, CEO and co-founder of Greenwood Bank. “With the official launch of our General Access platform, we are able to provide even more community members with the tools and resources they need to meet the current moment.”
Today, the Greenwood platform boasts a variety of best-in-class features that remove traditional barriers to wealth creation - including overdraft penalties, in-network ATM fees, minimum balance fees, and peer-to-peer transfer fees. Banking members are able to utilize Greenwood’s new features like two-day early deposits, instant card deposit options, next-generation security features, and mobile check depositing features on an industry-leading mobile app with a 4.8 out of 5 star Apple App Store rating.
The General Access platform comes on the heels of Greenwood’s second investment fundraise in November 2022, led by Pendulum, a strategic growth investing and advisory platform designed for founders and leaders of color, founded and led by Robbie and D’Rita Robinson. In the last year, Greenwood has also successfully launched Elevate, a premium unique wrap-around banking and lifestyle product exclusively for Greenwood members, and acquired The Gathering Spot, A3C and Valence to provide its members with unparalleled access to professional networking opportunities, exclusive experiences, and more.
Launched in 2020 by rapper Killer Mike, Civil Rights Leader Andrew J. Young, Ryan Glover, and Dr. Paul Judge, Greenwood was inspired by the entrepreneurial and empowering spirit of the Greenwood District, an early 20th-century community in Tulsa, Oklahoma, also known as America’s “Black Wall Street.” In the last three years, Greenwood has become the premier destination for wealth creation, community building, and professional advancement for Black and brown Americans’ households and businesses through its acquisitions, events, and new product launches.