Killer Mike, Andrew Young Launch New Digital Bank

A coalition of prominent Black Atlanta business leaders, political figures, and entertainers – including former Atlanta Mayor Andrew Young, artist Michael Render, widely recognized as Killer Mike, and Bounce TV creator Ryan Glover – have introduced a novel digital banking platform dedicated to fostering growth within local communities and supporting Black and Latinx entrepreneurs and small businesses.

The bank, christened Greenwood as a tribute to the prosperous Tulsa, Oklahoma, business district known as “Black Wall Street” which was tragically destroyed by racially motivated violence in 1921, incorporates several features intended to advance social initiatives and organizations serving the Black and Latinx population.

Greenwood will contribute the equivalent of five meals to organizations combating food insecurity for each new account opened. Furthermore, the bank will donate to either the United Negro College Fund, Goodr (a group focused on addressing food insecurity), or the National Association for the Advancement of Colored People every time a customer utilizes a Greenwood debit card.

Additionally, the bank will award a $10,000 grant each month to a Black or Latinx small business owner who utilizes the company’s financial services.

For Render, the creation of this new digital bank alongside Young and Glover represents a means of connecting Atlanta’s long-standing Black business heritage with the technologies that are reshaping wealth creation and generating opportunities in the 21st century. It also aims to provide a new generation with financial resources that will empower them rather than disadvantage them.

“My understanding of capitalism is that one either actively participates in the system or becomes subject to its effects,” Render stated. “The most effective form of protest is strategically directing your spending.”

Young, who also serves as the U.S. ambassador to the United Nations, observed how digital banking technologies were transforming economic landscapes in nations like India – diminishing the influence of predatory lenders and expanding economic access – and sought to replicate these benefits within U.S. communities.

Atlanta provides an ideal location for a new Black-owned digital bank. Following the destruction of Atlanta’s own thriving Black business area in 1906, a precursor to the Greenwood Massacre fifteen years later, the community demonstrated resilience by rebuilding with institutions like Citizen’s Trust (established in 1921) and Carver (founded in 1946) dedicated to serving the city’s Black residents.

Render, a successful entrepreneur with ownership in a chain of barber shops called the SWAG Shop, various real estate holdings, and a restaurant in partnership with the artist T.I., indicated that he intends to be a customer of Greenwood in addition to being a founder.

“Currently, a dollar remains in circulation for 20 days within the white community, but only six hours within the Black community,” Render explained in a press release. “Moreover, Black individuals are twice as likely to be denied a mortgage compared to their white counterparts. This inequity within the financial system is the impetus behind the creation of Greenwood.”

Greenwood will offer customers both a physical debit card and savings and checking accounts, alongside a full suite of digital capabilities, including compatibility with Apple, Samsung, and Google Pay, peer-to-peer payment options, mobile check deposits, and surcharge-free ATM access at over 30,000 locations.

“It is well known that conventional banks have historically underserved the Black and Latinx communities,” Glover said in a statement. “We needed to develop a new financial platform that acknowledges our history and anticipates our future needs – a banking platform created by us, for us, that empowers us to build a more secure future for our communities. This is our moment to reclaim control over our lives and our financial destinies. That is why we established Greenwood, a modern banking experience designed for our culture.”

To lead the bank, the founding team appointed Aparicio Giddins as president and chief technology officer. David Tapscott, previously an executive at Combs Enterprises and Green Dot, is serving as the company’s chief marketing officer. Andrew “Bo” Young III, managing partner of Andrew Young Investment Group, and Paul Judge, co-founder of Pindrop and TechSquare Labs, are both members of the company’s board of directors.

The launch of Greenwood is particularly noteworthy, occurring almost a century after the founding of Citizen’s Trust and shortly after Wells Fargo CEO Charles Scharf made controversial statements regarding diversity within the financial services sector.

The company has secured a $3 million investment from anonymous angel investors. Greenwood is currently accepting deposits, with the goal, according to Render, of stimulating a new wave of entrepreneurial activity among young Black and Latinx individuals and their supporters.

“The efforts of the civil rights movement extended beyond simply gaining access to public spaces; it also encompassed the ability to own the businesses within those spaces,” Ambassador Young stated. “We possess the skills, talent, and drive to compete globally, but sustainable economic growth must be rooted in universal principles rather than solely driven by greed. Killer Mike, Ryan, and I are launching Greenwood to continue this work of empowering Black and brown people with economic opportunity.”