Empowering Black America to take back financial control

First Boulevard describes itself as a neobank that aims to empower Black Americans to take control of their finances, build wealth and reinvest in the Black economy with sophisticated, digitally native financial instruments built for the 21st century.

The bank's digital platform, due to launch later in 2021, already has 200,000 customers on its waiting list. Hawkins and Bradley have identified four 'stages' of customers who can benefit from their products: debtor, saver, investor and legacy builder.

With its latest raise, First Boulevard aims to expand its mission-driven team, increase its customer base and grow the platform to offer fee-free debit cards, financial education, technology to help members automate their saving and wealth-building goals, and 'Cash Back for Buying Black', a Black business marketplace which offers up to 15% back when members spend money at Black-owned businesses.

'Saving is something that we haven't been taught as a community', says Hawkins, and the bank's loyalty points and budgeting insights are designed 'to lead customers to make positive financial decisions'.

Donald Hawkins, Founder and CEO of First Boulevard - a neobank offeringinnovative banking services for Black communities in the US.

What we're doing is trying to create another medium for Black America to get financial parity. We represent our community and want to make sure they get the very best that we can offer.

Donald Hawkins

Founder and CEO, First Boulevard

Bradley, who serves as First Boulevard's COO, says: 'The current financial industry was not built to serve the needs of melanated people, because we were excluded from its construction. First Boulevard understands the unique needs of the Black community and is our modern-day approach, using digital banking and wealth-building to help Black America reach financial parity.'

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Barclays plc published this content on 19 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 May 2021 10:19:08 UTC.