Digitization Program for Minority Banks
Digital transformation is no longer a choice for financial institutions but a necessity to thrive in today's technology-driven world.
"The pandemic increased the use of mobile and online banking as visits to branches and ATMs have decreased substantially."
– 2021 Morning Consult survey
And banks that are able to compete digitally are positioned to benefit in significant ways, such as:
Access to the substantial rise in bank deposits over the last two years.
The formation of long-lasting banking relationships with the next generation of Millennial and Gen Z customers (the former of whom already represent the largest source of new loan originations).
– 2021 Morning Consult Survey
Digital transformation is critical for minority-owned and -operated banks to survive and remain competitive. That’s why the Foundation has collaborated with the Alliance for Innovative Regulation (AIR) and Citi Foundation's Community Finance Innovation Fund to create the MDI ConnectTech digitization program.
MDI ConnectTech Mission
Support investments in technology and talent to enable MDIs to multiply their lending capacity and increase customer access and affordability to financial products and services.
With the support of MDI ConnectTech, MDIs can continue to be a sustainable community resource for financial access, wellness, and generational wealth-building.
Together, we can bridge the technology gap
Press Coverage of MDI ConnectTech
Empowering Minorities in Banking: A Q&A with Nicole A. Elam, President and CEO of the National Bankers Association click here >
Digital Modernization click here >
Celebrating Black Voices in Finance click here >
The technology gap at Black financial institutions is an opportunity for empowering
partnerships click here >
Top Economic Events click here >