In March, Greenwood co-founder Ryan Glover told CNN Business that the Black and Latinx-owned digital banking company’s planned launch date of early 2021 was due to unexpected high demand after its website presentation in October. It was back in July. Making sure the digital platform can handle the influx of users it needs is also the reason for the latest delay, Greenwood leaders say.
The fintech technology company’s leaders now expect everyone on the waiting list to be able to open an account before the end of this year, and the platform to be available to the general public in early 2022, said David Tapscott, Greenwood’s chief marketing officer. Will be.
Company leaders earlier this year stopped buying ads asking customers to sign up to its waiting list, and focused on deploying services to people who had already signed up for open accounts. has done
“include [more] People on the waiting list just delay how long it will take for us to do that,” Tapscott told CNN Business on Wednesday. Our first commitment is to bring the best possible product to market and we won’t rush it. We believe our customers have enough confidence in what we are doing to stay with us on this journey. “
Glover pitched the idea to Greenwood in 2018. Company leaders said in March that Glover did not predict the huge demand Greenwood would receive in 2020 after the killings of George Floyd and Malik. The black financial empowerment movement that exploded in its wake. .
According to Tapscott, the move prompted more than 500,000 people to sign up to open a Greenwood account before the company officially opened.
Greenwood recently hired Delaney Herath, a leader in fintech technology, to serve as its new vice president of engineering to ensure the company’s software can manage all of its customers. and can speed up the deployment process. Herath has spent the past four months serving as a technology partner at JPMorgan Chase, where he executed the strategy for the company’s small business banking platform to help it rapidly develop and deliver products to market. Help can be found.
Prior to joining Chase, Herath spent 11 years working as an engineering director at Chase. F.I.S (FCUUF)the world’s largest payment processor, where he led its global engineering team, leading the company’s launch digital banking platform suite.
“Ryan [Glover] I found it necessary to take a dedicated approach to get to market quickly. That’s why they hired me,” Herath told CNN Business.
Greenwood has gained powerful allies in the financial services industry since Glover and Render first shared their vision for the platform last fall. In March, the company said it raised about $40 million in Series A financing from investors. JP Morgan Chase (JPM), Bank of America (BAC) and major investor Trust Bank.
“Six of the country’s seven largest banks were investors in our Series A round,”…
