First Women’s Bank to Fund Women Owned Businesses
In a move that aims to close the gap on gender inequality,related to women owned businesses, Fiserv announced that it’s backing the launch of First Women’s Bank. The bank will focus on helping women get the funding they need for operating small business. It’s mission is to “grow the small business economy and advance the role of women within it.”
The First Women’s Bank is set to open its doors in the first half of 2021 – beginning with its flagship location in Chicago.
“First Women’s Bank will be an innovative commercial bank and the only bank in the country with a strategic focus on the women’s economy,” said Marianne Markowitz, president and CEO at First Women’s Bank.
Markowitz went on to explain that the bank will also use technology to connect small businesses capital that they need. Beyond that, their mission and resources will also provide opportunities to promote gender equality and inclusion.
Although First Women’s Bank has a primary focus on lending and financial services to support women, it will also seek business and opportunity from a wide range of clients.
This wide range includes those clients sought under Fiserv’s Back2Business initiative. This program is designed to provide assistance and backing to small, minority-owned businesses. Especially those small business that have been disproportionately impacted by the effects of COVID-19.
In addition to financial support, the Back2Business program provides business expertise, technology solutions, and helps to build and leverage strategic partnerships.
“The mission of First Women’s Bank made them an ideal choice for a Back2Business partner,” said Todd Horvath, head of Account Processing Services at Fiserv. “We look forward to working with them to bring the program to Chicago.”
Fiserv is providing guidance on technology solutions which will align with First Women’s Bank overall strategy and goals. Many of these solutions, they believe will improve the customer and employee experience, and set the bank apart from its competition.
“First Women’s Bank is a pioneer, and it is a privilege to be their partner as they build a bank to serve the growing women’s economy,” said Danelle Hawig, vice president of segment strategy for Bank Solutions at Fiserv.
About the Author
