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    Launch of the first LGBT + digital banking platform in the United States

    (Clarifies attribution for LGBT + population size in 5th paragraph) By Matthew Lavietes

    NEW YORK, Nov 19 (Thomson Reuters Foundation) – The first LGBT + targeted and proprietary digital banking platform launched in the United States this week, part of a growing effort to meet the needs of gay and transgender customers. Daylight, the new platform, said it has developed tools and content to help LGBT + Americans achieve specific financial goals such as saving money for surrogacy or gender transition surgery and making banks more inclusive.

    The nation’s LGBT + population holds about $ 1 trillion in collective spending power, but is mostly handicapped by banks that fail to tap into their assets or face their interests, Daylight CEO Rob said. Curtis. “While it is wonderful that financial services companies are joining us in the Pride marches, too few have absorbed the critical challenges of our community,” he said in a statement.

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    According to the Williams Institute, a research center at the University of California, approximately 9 million people make up the nation’s LGBT + community. Brazilian entrepreneurs founded the country’s first bank for LGBT + people, Pride Bank, last year, and the first credit union designed for the LGBT + community, Superbia Credit Union, is expected to be launched in the United States by the end. of the year.

    “We are working to create a more inclusive and accessible financial ecosystem … for those who have long been underrepresented,” Terry Angelos, senior vice president of credit card company Visa, said in a statement, who supports the effort. Daylight will offer prepaid credit cards in customer-preferred names, addressing a thorny issue for transgender people using different names from those given at birth.

    It will also provide financial coaches trained to handle specific LGBT + needs. Daylight plans to officially start offering services in mid-December.

    News Highlights:

    • Daylight will offer prepaid credit cards in customer-preferred names, addressing a thorny issue for transgender people using different names from those given at birth. It will also provide financial coaches trained to handle specific LGBT + needs.
    • Launch of the first LGBT + digital banking platform in the United States
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