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All right, guys, welcome back EYL Atlanta Edition. This is our second home for sure. We spend so much time out here. So this is gonna be a dope episode because there's something that we have never covered as far as the banking industry.
Shout out to Killer Mike.
We had the honor speaking to Killer Mike, and obviously everybody knows that he's involved with Greenwick Bank, and he gave us like a kind of an overview of the whole situation, but we never actually spoke to like somebody that's actually running the bank.
Yeah, we got questions. He was like, y'all gotta ask Ryan. Ryan on here, y'all gotta ask Ryan.
Okay.
So Ryan Lover is the co founder and chairman of Greenwood Bank. If you're not familiar with Greenwork, Greenwood Bank is Greenwood Bank is a black owned fintech bank that is launching very very soon, and he's the founder of it. So this is the first time that we've actually spoken to somebody that's actually running a bank. So we have a lot of questions and he has a long history outside of the banking industry, started Bounce TV.
I think that's what makes this even more impressive, Like he doesn't have a banking background, but as a bank Yeah.
Yeah, So he was gracious enough to invite us in his home and we're head to do this interview. I'm sure it's going to be a legendary situation. So thank you for having us. Appreciate it man, thank you for coming to my home.
Man, and uh, it's some time with me to talk about Greenwood and my long history, uh in the entertainment, in the media, now in the banking world.
Yeah, we forgot one thing. He's an HU guy.
Oh yeah, Howard Universe.
Shout the Howard.
Absolutely the Bison's should I say the.
Yeah Hampton you.
Know we're the real h first and foremost you said, yeah, you know exactly. Guys that went to Hampton must couldn't have gotten into.
Howard shout Envy.
You have it all all right, So let's get into this. So you're the head of the bank. But before that, right, you find you found Bounce TV. Right, So how do you make your way from going to Howard bounce, TV, banking.
It's like a lot of different parallels here. That's not really yeah, and that's.
It important to kind of get into. It's a great question because I was, as I was mentioning, if there wasn't my if I didn't enter my past chapters in different industries, there would be no Greenwood. So, you know, just to be clear, from the Bay Area in California, went to Howard University, graduated from Howard. Actually at Howard, I was bitten by the entertainment bug, right, So there's
a at Howard University. As you guys know, there's a long history and lineage of successful black entrepreneurs, all right, and I was a part of the culture of successful black entrepreneurs that were born at or came out of Howard University. So Howard University graduated. I have a degree in accounting. Ironically, uh you know, and I knew, you know, after graduating, I wasn't cut to be an accountant. All right, love business, but accounting just wasn't I believe my calling.
Uh So relocated to Atlanta, Georgia, started a studio called Noontime. So we made records from everybody from Mary J. Blige, Aliyah Sean P. Diddy Combs, a good friend of mine who I met at at on Howard's campus, and a litany of other hip hop and R and B artists. Uh. That was super popular uh in the in the nineties in the early two thousand. So that's kind of where
I cut my teeth. From a business perspective, is in the is in the music, music business, right, So I started Noontime publishing and production company, and from there I knew that it was important to create content that mattered to our culture. And I realized that if you create content that means something that matters, it'll stand the test of time. That's kind of where I got my start.
So we went from New Time to Bounce, is how it?
Because, I mean, we're talking about Greenwood and the first time we're actually talking about somebody who has their own bank. Well, we've never spoken to anybody who had their own broadcast networks. Yea, yeah, I mean it was at first.
No, no, without a shadow of doubt. So spent ten years in the music business. Noontime was an incredible journey for me from a music perspective. Then I transitioned from Noontime into television media. So I worked at a television network, Turner Entertainment Network, TBST and T Adult Swim Cartoon Network. Created programming, scripted and unscripted program for those networks. You know.
Spent six years there at Turner and really learned the media business, utilize my resources and relationships to kind of broaden at the time Turners involvement and understanding of our culture. And then from Turner in twenty ten, I started a Bounced TV African American broadcast network. Started off just me and my partner. Grew that network to over two hundred and fifty employees. We Bounced TV is in over one
hundred and ten million households across the country. And I got to tell you guys, really what I prided myself on what Bounce is is. And I got five children from twenty two all the way down to zach is eight, as so many kids I go age of, but I prided myself with creating responsible programming that was entertaining that all of my children could watch and I did not have to change the channel if a show that I
programmed actually was on right. So, so credible content, responsible content, entertaining content, uh, for the for the culture is really what we prided ourselves on at Bounced TV and and it resonated with the community.
What kind of shows did did we bring first to Turner and then obviously to Bounce. What what are some of the shows that you know the audience might be familiar with.
Yeah, so, so you know, I didn't program Tyler the Tyler Perry slew of shows, but I was a part of on the executive side identifying that that that kind of content will resonate within our community. So before, for I was at Turner, there was no Tyler Perry, There was no Ice Cuban, Joe Roth, there was there was no a Jada Pinkett and Will Smith. But while I was there, that programming existed because I helped the Turner Entertainment Networks understand that our culture in our community is
not a fad. It matters and and you know we are We come in many different shapes, sizes, colors, and have many different interests and you know, Turner should broadcast content they kind of spoke to a culture that was diverse. So so I was instrumental in helping the network understand really who we are as a as.
A white culture.
You said it not me, So how do we get to start in Greenwood?
So you know sold Bounce in twenty seventeen, you sold Bounced, sold Bounced TV, so launched a network.
Can we say how much?
We sold it? For three hundred and two million dollars? I wrote that two scripts and you know, quite candidly speaking, guys, I thought about retiring. You know, I love sports, I loved my family, and you know, I wanted to do something that didn't necessarily force me to have to wake up at five point thirty in the morning and work
all the way through ten o'clock at night. Right. So, a good friend of mine, because so you know, I'm not speaking of Greenwood, I'm not a banker nor a technologist, right. I am an individual who's built businesses, multiple businesses in multiple industries for our culture and our community that I believe have always have always created a content that has resonated and been consistent, educational, and has helped our community advance.
So a good friend of mine got a name of Paul Judge, who is actually a technologist, said you know, I know you just sold a Bounce CV for three hundred and two million dollars. You just can't just ride off into the sunset. You have more resources, more life, more energy that you need to lend to the culture. He said, listen, man, I don't want to do anything right. And he said, listen, you've got a ton of resource relationships. You need to look into another avenue, another another way
to you know, kind of help our people advance. You should think about the neo banking space. Didn't know much about the space in any way, shape or form. But what I didn't know try and Rashad is that I had built multiple businesses over the course of my life and I never utilized banking resources to build any of those businesses. And to me, that was an atrocity.
When you say that, you mean like, so you didn't get loans from banks.
You know, not only did I not get loans from banks, My first thought about building business was not to go to banks to get loans. I never thought about, hey, any alterior are alternative lending facility to build a business. It's always been utilizing personal resources to build brands and businesses. Unlike unlike my friends who are in counterparts, who are non African Americans, the first thing they think about is going to banks or lending institutions right to further their
ideas and their dreams. I never thought about that. And the reason why I never thought about that, rightly or wrongly, is because we know generationally, you know, banking resources have not been kind to individuals of color, have not been kind to us for a number of reasons. And my thought process was, you know, at the point where I decided to start green Would was not to look at all the atrocities that have occurred, but more so to look at how I can be a part of the
solution versus talk about the problem. Right. So you know, again not a not a not a banker, nor a technology but I build businesses and I know what business owners need and what they and what they want, what they deserve to have, and I want to be at Greenwood a conduit for that.
So when you're when you're doing this, I can imagine, like you said, you had sold the company and obviously up one hundreds of millions, and they might I'm assuming it might have been a little bit opressiittive like I have to do something because I've accumulated this, I've had more resources than the average person in my community. After that happens, right, what's the next step do you find a team once Paul convinces you, now sure, yes, I need to do this.
Who's a team and how do you go about finding them?
No, that's right. So so just to be clear, you know, Greenwood is a digital digital company providing banking resources for the community. That's that's who we are. We are, Uh. We're going to roll our products out in this fashion, a debit spending card, credit products, lending products, lifestyle products. We will be a full service banking platform for our community.
You know, we're full service banking in your in our in our consumers hands, Apple and Android pay, mobile deposits at M services across across the country, two day early pay. So all of the resources in the in the uh functionality that traditional brick and mortars have, Wood will have as well, as I mentioned, not a banker, not a technologist, but all the businesses. To answer your question, Troy, all the businesses that I've built have been built on an idea,
hard work, UH, strong prayer. Right. I'm a family man, love, love the Lord, but also surrounding myself with people who are professionals and who know what they do in their areas of expertise. Right, So my my record company that we built Noontime. I'm not a rapper singer, can't dance my way out of a paper bag, right, but I can identify talent and I I and I identified some of the top producers writers in the industry to create the platform and the success at Noontime and joy Bounce TV.
Same thing. Uh, you know, it's all about building a media company with professionals that have done that have worked in the media business for decades. Same thing with banking, right you know. I won't go into detail, but there was a myth that that there were that there is not enough or a lack of banking talent that exists in the African American community that work in traditional finance.
Not the case. When I decided to launch Greenwood, I had talent coming from traditional financial institutions and from other banking sources that wanted to participate with Greenwood as a mission. So that's kind of what we did, all right.
So let's les, let's get into this conversation to meet matatoes a right, So how do you start a bank?
All right?
What's the first board of directors? What is the first steps to start a bank?
So in order to start a bank, one you've got to have capital. So, you know, this same time last year, ironically, after I decided, after I decided that I was going to start Greenwood Digital Banking for our community, I decided that one, I'm going to utilize my own personal capital to start the bank, but I'm also going to raise capital from angel investors and not just capital from any one, you know. For me, I wanted to partner with people who one understood our mission and just so we clear,
you know, Greenwood is in place. One to eradicate predatory lending. I'm going to put all check cashing businesses out of business. Two, Greenwood is going to recirculate capital in the community. You know, an O to to Greenwood, which is and O to the Greenwood District in Tulsa, Oklahoma. Right in the nineteen twenties, the Greenwood District was a hotbed for African American and minority businesses that thrived. And the reason why those businesses
thrived is because capital recirculated in the community. So one dollar recirculated dozens of times before it left it left the community. Unfortunately, in today's community, one dollar recirculates in our community recirculates only six hours, right, So my one of my missions at Greenwood is to recirculate capital in the community. The third mission that we have UH is
to deploy capital to deserving borrowers. I mentioned earlier that I UH and you know, all candor some of some other African American business owners that I know don't have the same access to capital that others have from other communities. We want to eradicate and extinguish that fact of the matter. So one, you've got to raise capital.
So how much? How much money?
So we raised three million dollars. That's it. We raised three million dollars initially.
That's all. That's all it took.
Initially, That's all it took. Right, So we announced October eighth Greenwood, after we after we raised three million bucks, right, a kid, you not. The day that we announced that we were launching Greenwood. The next day, ten thhis thousand folks signed up on our waiting list. The next day after that another ten thousand. At the end of the month, there was one hundred thousand folks in our waiting list.
At that point, I knew that we needed more resource to scale and if we were going to service the community the way clearly the community said they needed to be serviced. So I had no idea that I was going to go into and move into a Series A round of funding this soon in our lifespan, we have a product that launches at the end of the summer.
You know, our goal was to raise three million dollars, raise capital for our angel round, and then launch our our digital bank, and then slowly but surely acquire customers to participate right in our In our process, we have five hundred close six hundred thousand folks on our waiting list at the moment. That's scale. So I knew that we had to raise more capital. We had to scale internally, We had to raise capital to market our product. We had to raise capital to hire as well. So we
started off Rashad and Troy with three employees. We now have fifteen. By the end of the year, we'll have twenty five employees. By the end of next year, we'll have close to one hundred employees running or assisting me in running Agree with Digital.
So all right, so three million was initial, but then you realize that that definitely wasn't gonna be enough for six hundred thousand customers. So you go and you take money from Benure capitalists and other angel investors.
Yes, and how much money is you raise?
Yep, So I'm proud to on now ounce. So I'm proud to announce the amount of money that we raised, but I'm more proud that we raised it from a wide mosaic of investors.
Right.
So to answer your question, we raised thirty million dollars to our balance sheet for Greenwood Series A. But we raised that capital from six of the seven top US banks in the country, all led by truest Ventures, other entertainment companies, other media companies, venture capitalists, and individuals as well, all individuals, companies in corporations who are one passionate about our mission, who believe in what we're doing, and who have agreed to in lockstep join arms with us to
close this why wealth gap that exists in America. Green was not going to do it all by itself by ourselves, right, you know. And the wealth gap that exists in America is not going to be closed in one year, or in two years, or in five years for that matter. But we are a part of, as I mentioned earlier, going to be a part of the solution versus the problem.
That's interesting because you have JP you have Bank of America. True, it's like you said, Wells Fargo's involved, PNZ Bank, all financial institutions that are now supporting your financial institution when you presented it to them, What made them say, you know what, we're not going we could do this ourselves. What made them believe in your vision for Greenland?
Yeah?
So I think one, they saw the team that we put together. We have a world class banking team. I think Two, they understood the mission. They understand that we're passionate about deploying capital into our community. We circulated in capital uh and closing and closing the wealth gap. Three, I really believe Rashad and Troy that that they understand that you know, although we're providing digital banking services, but the guys that are running the the digital bank in
Greenwood are not bankers, right. We are business people that that authentically understand the plight, the situation and where the community as businesses want to want to go and grow. You know, I understand where Pinky Coal from Slutty Vegan was, where she is and where she wants to grow. Right. I don't know if another financial institution or even another challenge your bank understands where pinky wants to go and grow.
I can give you a number of different examples in Atlanta alone of minority business owners that have great ideas, that have a wealth of talent, but just don't have the access to capital and the resource to become as big as they We know that they can be, but I do I know, I know those individuals.
So they're looking at you like it's not a competition. You actually have a pulse in the community that they don't have a reach too.
I look at myself as Robin Hood. Okay, I look at myself as Robinhood. I don't look at and I get the question all the time, or why do you think all these institutions now you know, want to participate in the message, in the movement. And you know my answer to that question is I don't have the bandwidth to think about what happened yesterday and a hundred years ago. My goal and my mission is to solve help solve
the problem now and in the future. And if these banking institutions want to utilize Greenwood as a conduit to do it, and Ryan Glover and Paul Judge and our world class team at Greenwood to do it, so be it. We are here to be that conduit and to spread that goodwill and mission and capital. The other thing I want to mention too is there's a yin and a yang. There is having access to capital, right, but there's also
a financial education component to our mission as well. It's one thing to know or have access to capital, but it's another thing to also know what to do with it.
Right.
So our mission is to give access to capital, but also help and educate our community to understand what they can do and what they should be doing with the access to capital, utilizing the resources that we have.
So was there any hesitation as far as having the other banks that traditionally have not given loans to people of color to have them involved in your bank? Did Did you ever think like this might be a conflict of interest or it might, you know, be looked at as something.
That is not, you know, in line of what we're trying to do.
Not in any way, shape or form with SAD. I have a very old school mentality on the way business at any level should work and operate. And I believe that it takes a village to raise a child, right. I believe that it takes a well oiled conglomerate of resource to to affect a culture, a generation, a or a thwart an issue or a problem that has existed for generations. Right, so the non access of capital in our community has existed for generations for hundreds of years.
You know, one digital bank with a great mission, with tons of personal resource isn't by itself going to thwart and solve that problem. I looked at it as not only will we need you know, the six out of seven top banks and the other companies. I think we're gonna need, not just more resources on our own, Can'tly speaking, I believe that there needs to be more greenwoods.
Right.
You know, you know when I started Bounced TV, you know there was you know, b et.
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He existed. There are other African American networks that existed, but that we also had a bounce, had a lane of our own. And you know, you guys have cable. There are a thousand channels that you can pick up on cable. Right, there's only six or seven African American network still to this day, right, that exist on cable, right, but there should be more. Right, So Greenwood is existing, and I believe a pioneer in the digital space, digital
banking space for black and brown people and allies. Right. So, so I don't want my consumer just to be of color. I also want our consumer to be allies, individuals who aren't necessarily African American or Latino or of color, but individuals who understand our struggle and are compassionate to our struggle. So I want there to be other Greenwoods. I want to I want to inspire other folks to build, to build Greenwoods after us.
All Right, so you guys obviously had the financial firms that are backing you, but you also have fintech companies MasterCard and Visa that.
Are involved in the commen world as well. What was that process like in getting them on board?
Great question. So strategically I wanted to partner with both Visa and MasterCard. You know, as I mentioned earlier, you know, we could have gone to one or two banking sources to raise our Series A capital, But strategically, I wanted to create a mosaic of of of partners that had different resources and relationships that could help us go and grow right as we grow. With MasterCard and Visa, same process.
So we have a relationship with MasterCard on the debit side, and we have a relationship with Visa that will roll out a credit products with with Greenwood. Strategically, so we have debit products that we're partnering with MasterCard on and in credit products that we're partnering with Visa on. And the reason why we did that is because I understand that MasterCard they have their own own relationships right. For example, MasterCard has relationships with the Major League Baseball right. Visa
has relationships with the NFL. Right. So having multiple relationships with multiple institutions gives Greenwood the opportunity to have multiple partnerships right in in the country and in the world. So so strategically, you know, that's kind of how I think in how I operate.
So as far as okay, so having a bank is still a business right. So the business model of banking is that they charge interest and they invest the money in the capital markets and they make money on your money sitting in the bank. That's like the third grade explanation, right, that's right? Is that is that your that's the business model.
That's the model. So yep. So at thirty thousand feet we are launching a dibbit, a debit and spending card at the end of the summer. That's the first product that we're rolling out. And there's what's called interchange, right, that exists when customers utilize or swipe their card, there's interchange, just exchange that we get a small piece, the FDIC insured bank gets a small piece. The merchant also makes a small piece piece. So that's the interchange model. Okay.
We also, as I mentioned, will launch credit products where interest comes comes into play and we'll have we'll have competitive credit rates on those products as well. We'll also have investment products that we'll roll out as well, So there and lending product. So all of the products that Greenwood will roll out, they'll all be a creator, a creatively priced that our consumers will be able to take
advantage of. But our biggest asset, I believe assets over liabilities, uh, is that we have the ability to identify credible and solvent borrowers in our in our community, individuals that wouldn't have the same opportunity to have that access to capital that that others in other communities.
Well, how do you so?
All right, this is interesting because it's like you walk in the thin line. I'm assuming because you have to make money, That's right. We never apologize to making money. That's a way in business for it, that's right. But you also don't want to be a predatory Linda, and you don't want to take a that's correct. But then when you don't want to lend somebody money that can't
pay it back, that's right. But then you also want to get people opportunities that doesn't necessarily have opportunity somewhere.
Else, that's right.
So great question, how do you walk that line?
All right? So I'm gonna give you a quick analogy. So I come from the media space, television media space. You all are familiar with the Nelson ratings, right, and Nelson ratings really you know, you know, kind of identify the important or the successful shows that exist across the country.
Right.
Do you guys know anyone anyone that has an actual Nelson box in their house? Right? You know? No? I don't either, Right. So that is a metric that media uses to identify qualified, incredible content, But we don't know how those programs are identified or rated. Okay. In the banking space, we're judged on credit right now. Credit is a good barometer to use for you know, ninety percent of the community on whether you pay your bills, how often you pay your bills, you pay them on time.
But I think, me personally, there are other metrics that we should in the banking industry be using that we plan on using to identify qualified and credible sources that we would say, hey, Rashard Greenwood will stick their neck out on the line to loan earn your leisure X number dollars to build a bigger and broader media business
that you're building. Okay, there are other things that I believe that bankers should look at outside of purely credit to identify qualified borrowers, and we are going to kind of do that at Greenwood.
It feels like there's this social responsibility in what you're saying, and so is part of the products that you said, Like you said, we have spending and savings products as part of the products and education component when people are applying to get these loans.
So so content, as you as you guys know, is a part of our DNA. You know, I come from the media space, so creating content to educate is important for us, you know, looking at Earn your Leisure as an example, which I believe is a bible to educating
our community. Uh, you know, and a resource for me that is untraditional compared to you know, some of the other programs that you may see on linear television for for our community, right, I think utilizing content to educate folks uh in a entertaining but but but uh educational way is absolutely a way to to kind of educate our community on on money.
Well, thank you for words.
So all right, the boarder directors, board of directors conversation. Who is your board of directors? How important is it to have a board of directors?
It's very important. So so I sit on the board, Paul judges on our board. Bo Young investor Andrew young Son is on the board. And there are two other individuals a part of our board that are part of our Series A investment investment community, and we selected those individuals not just because they are in the banking community, but because they have resources in the digitals, in the
digital banking space. As I mentioned earlier in our in our series in our Angel Investment round, in our Series A round, it wasn't just about receiving a check from certain individuals. It was money is always important. As you mentioned Rashad that you know we're running a business, so money you need capital to run the business, but it's also about partnering with the right individuals who have resources
that can help your business grow and develop. So our our border directors not just are include individuals who have capital and access to capital to help our business grow, but also have resources as well. So it's always selecting the right partnerships. In my personal opinion, that's as equal as important as as the capital. So our our border directors are important not just to help the business to start the business, but also help it grow as well.
All right, So you guys are online bank. What is the difference between online and physical obviously physical locations, but I'm assuming that you didn't want to do the physical bank because it's a lot more overhead and it's a lot harder to manage than the online situation without.
Without a shoutout of doubt. So so you know, we look at what we're doing at Greenwood as as a bank in a box, okay, a digital bank in a box where where you know, we're providing the same digital experience or banking experience as traditional banks, but we believe that we're providing a more authentic service for our community without the overhead, without the brick and mortar overhead that
traditional banks, traditional financial institutions have. So those additional expenses drive the cost of doing business up right, So you take a look at your business. Earn your leisure as an example, You guys gather and create content, from my understanding, not necessarily in a set structure that you have hundreds of employees that you where you gather the content and other services that you provide in a brick and mortar space.
You guys go and you go get the content and go craft the content and go to the people where they are. That's what we're doing. We are meeting our customer where he or she is, not necessarily having our customer come to where they think we should be. So to me, at us, that's a more important way of providing banking services.
So you guys, obviously you started with the capital to get the bank and said series as funding.
Then you had the board that you put together.
Every business that I've built, as I mentioned earlier, has been built around best in class executive talent. There's you know, there is no sustainable business that will thrive without individuals one who are best in class and have done what you're paying them to do for for some time. So so you know, I knew that there is there is competent, incredible banking talent that worked at traditional fies and worked at other challenger banks that understood our mission and our motive.
And I I make folks offers that they can't refuse candidly speaking, So so you know, you know, I I sold the fact that that we're authentic, that we're providing a service that hadn't been provided to our community, that we were going to make history. Uh And and you know, I I believe that there was a community of minority banking individuals and talent that that wanted to participate in our in our mission and what we were building, and that's what happened.
So like the debit card, well people be able to use that ATM machines, And how does that work since you don't have ATM machine like they go to like Chase and then they get charged like a fee for using it a Chase yep.
So So so we have partnerships ATM partnerships with Truest, with P and C, with Wells Fargo, UH with All Points and Money Pass. So I'm proud to announce we have the widest broadest swath of free UH service use of ATMs across the country. So so the you do you there are no charge for any of our customers at.
Those locations locations so in that.
Those locations are growing weekly. So we are making other deals with other banking institutions to even grow that that service in that way.
From from a technology standpoint, what kind of technology can we expect from Greenway. I know, like some some things they have where you can take the picture of the check and it's directly deposited. I know, we can use uh zell and we can use cash up by these things that will all be a part of the green situation.
Yep, yep. So so from the technology side, so we're we're starting uh, best in class full service banking in your hand. Uh As I mentioned Apple and Android pay, we'll have we have over a thousand uh ATM locations at the moment today early pay. Uh so all of the digital services that our competitors have, Greenwood have as well.
So how do you see people using it? So obviously it's not open yet.
When it's open, I'm definitely gonna have an account, but right now I have chases my main account, and I have capital one. I was like online savings, just a slightly higher interest rate. That's kind of like how I have like my banking set up. How do you envision for people to use Greenwood do you use it? Do you envision I'm using that as their primary bank, as a bank that they have some money in, as a bank,
that they have online savings, all of the above. Like what is your idea of how Greenway can be using a bank portfolio?
Yep, great question. So we're building Greenwood for users in our community, an authentic digital banking experience for our community. We don't envision the entire minority community to leave right there their banking institutions that they currently bank in. I personally have three banks that I that I bank at. But Greenwood is a more authentic banking experience for our community.
Greenwood is a a a banking institution that will provide other opportunities, mainly for African American and minority business owners, right to have access to capital to build personal and
professional goals and dreams. That there are other financial institutions, more traditional banking institutions don't currently uh, they don't currently utilize those relationships for so so we envision for our community to look at us as an additional resource right from a business perspective, to have access to capital personally and professionally.
So, I know you spoke about the spending and saving product, the lending product, and credit products, but I was intrigued because you said that there's going to be investment products, and so I'm thinking, and I've seen a lot of financial institutions do this now where you can invest directly into the stock market through your account or even I'm thinking, now, what is the role that crypto will play in green What is that something that you guys are looking to include and when you fully launch.
Yep, not when we fully launch, no, no. So we will start with as I mentioned, debit is spending account right, and then we'll roll into credit. Then lending in crypto is a what we call a fast follow.
Uh.
So we're building our crypto products now as we're building our credit right products and our investing are our credit and investing in lending products as well.
Yeah, one of the things that you said that you were going to do is this community involvement. I know that's a big part of what you're doing, and I was reading that every time every person that signs up, there's gonna be five meals that's given out and you partner with GOODA.
That's our girl, Jasmine croch out to alumni.
But also I think I believe ten thousand dollars a month is going to go to a small business.
Can you talk about that lot yep.
The recirculation of capital, as I mentioned, is one of our major missions. I mentioned earlier that the reason that the Greenwood District in Tulsa, Oklahoma thrived and was so successful is because capital recirculated amongst multiple businesses multiple times in that community. So we have at Greenwood a give back program where our customers have the opportunity to round
up they're change right and make a purchase. They're rounded change can either go to the naacp U, n CF Gooder, or a combination of all of those organizations per per swipe. So our goal is to create even a water wider swath of businesses that we want to participate in that program. The second thing that we're doing is we're identifying every month, as I mentioned, African American businesses that we want to
deploy capital too in ten thousand dollars increments. So we have a program that will start this fall where we are deploying ten thousand dollars to that identified businessiness. And in fact we gave our first check too. We could have checked the T's Barbershop in Tulsa, Oklahoma last month as the inaugural minority business UH to start that program.
Is that something that you plan on doing continuously? We were actually in to so we spent some days out there on the hundredth anniversary of the massacre and we got to speak to the locals and one of the things that they were saying is like, we need more.
People to come back.
Is that something that green would obviously be in the name is You're making considered efforts to make sure that that is those people are taking care of as.
Well without a shadow of a doubt. I mean that that that community is at the core in the heart of what we represent. It's not just from a namesake perspective, it's also too Turmshod part of our DNA. The recirculation of capital again, I can't harp on that enough is really the life bread of what of what Greenwood is all about. Deploying capital in the community is what we
are We're all about. You mentioned rishard predatory lending, you know, thwarting predatory lending is what is what we are all about. And those three nuances all existed in Greenwood, uh, and it was the reason why that community was successful and is the reason why I believe we will be as well.
So when it when is it gonna launch? And I know a lot of people is on a waiting list. Right now you're talking to me o camera about the different phases that you have to go through the launch, So, yeah, what's the what's the what's the phases for the launch.
So so we have close to six hundred thousand people on our waiting list currently. So we have three separate phases. There is a a an alpha release where we uh test our product to a certain number of people. There's a beta process where we test our product to a wider swath of individuals in our community. And then there's there's a limited release where we basically open the rest of the community up to our products. So by the end of this year, we should have our our community
fully engaged in our Greenwood products. Next year start the start of twenty two is when we'll open up Greenwood to the community as a whole.
And that that's true for the United States right right now? Only is it the continental United States.
Kind of the United States?
Okay, that's a good question, right right, So because I know we I mean, it's not just African American, but the Latin ex community. So I'm thinking Puerto Rico, I'm thinking Dominican Republic, a lot of these places that would need this type of service. Is that something that we're looking forward to in the future without a.
Shadow of doubt. So, you know, we are as a culture and a community, a global culture in community that I believe needs access to capital, you know, globally, just as we need access to capital from a continental United States perspective, so as as we as we go and grow, so will our products across across the pond if you will, you know, across the globe.
Right, what can you say that people that you know?
You know people, we have a hard time trusting each other, especially when it comes to money, So like, what kind of reinsurance can you give the people? Everybody's going to it's never going to be an issue, it's not issues. There's always gonna be issues, problems or things. That's just part of the game. But you know, to try to let them know that you know, you're here to help and you're not going to be, you know.
Part of the problem. As far as like predatory lending, high interview stuff like that.
That's a great question. I think. To answer that question, I have to let my personal history and track record in business kind of speak for itself. As I mentioned earlier on, you know, I started my professional career in the entertainment in the music entertainment space, and I prided myself on creating consistent quality products in the in the in the music business. Then that devetailed in the creating
products in media. My stint at at Turner Broadcasting and Bounce TV, where I created uh credible in quality media content for the f An American community, which then in turn devetailed into me launching Greenwood a platform, a technology company, or released digital banking services for our community. In each of the chapters of my life, I have created con content that has been credible, that has been consistent, and
I think that has resonated authentically with our community. Say what I've done in my other chapters is what I plan on and I'm going to do do at Greenwood. So as you mentioned, yes, there are there are hiccups. You know there are there are hiccups at Bank of America, there are banking hiccups at other African American banks and
other challenger banks. So you know problems occur. But know that that I have over twenty five years, been consistent and stood behind every product that I've I've created and that I have released to my community, and Greenwood is no different.
There you have it as an honor. What would you like to lead the people with social media for Greenwood? How can they get on the wait in lists? What's what's all the information website, all that stuffy yees www.
Bangreenwood dot com. You know, you know, we are a growing digital bank that will grow. You know. I want you know, our community to understand that we are compassionate and passionate about our mission, that that we are sincere, and that we're going to continue to create products that we believe resonate with with our community authentically consistently. And I want to also mention that we're all about partnerships.
So it's an honor and pleasure to be again in business with Earn your leisure and a partner with with the products that you guys are are working on and growing. As you know, what you're doing is important. And I think that the more that African American and just minority companies band together and work together, which doesn't happen that often, but the more we can sit down and and and create that bonding, the better I think we are as a community and a culture as a whole.
There you have it, ladies and gentlemen, Troy housekeeping it on well.
Congrats, congrats and thank you for opening up your home for us. And congrats to Ambassador Andrew Young and Killer Michael former lay Alma on this and amazing endeavor that you guys have taken on and thank you for the partner man.
We're looking forward to it.
And shout everybody on patreon dot com. That is our product paid program. Obviously Tier five members you have access to eyl University with over ten thousand members.
That's a lot, man.
I remember doing this and it was five hundred and now at ten thousand, which tells you that the community is growing, not only because of the information we're given, but the information that you were also providing to each other. So shout out to all the earners and shout out to the merch team. We got some new stuff coming, so be on the lookout for that. Love is love, y'all.
Peace, Thank you for rocking with us.
We see you next week.
Peace.
My graduates from my school being forced bad drop bag drop, Mike drop bad drop drop.
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