Daylight: Empowering the LGBTQ+ Community for Financial Freedom

by Team Iamsafeatwork

03-07-2023

Safety

In a world where equality and inclusivity are still ongoing struggles, the LGBTQ+ community faces a myriad of challenges, including financial disparities. However, a ray of hope has emerged in the form of Daylight, a groundbreaking digital banking platform designed by and for the LGBTQ+ community. With a mission to eradicate the LGBTQ+ wealth gap, Daylight aims to create a future where one’s identity has no negative bearing on their finances. Supported by Visa Fintech Fast Track and driven by a commitment to inclusivity, Daylight is poised to revolutionize the financial landscape for the LGBTQ+ population.

Statistics indicate that six in ten LGBTQ+ individuals have encountered financial difficulties due to their identity. Moreover, half of those who identify as LGBTQ+ experience anxiety regarding their financial situations. Coming out to friends and family further compounds the issue, as they become 15% less likely to rely on them for financial support. Despite possessing $1 trillion in buying power, accessing basic financial services such as opening bank accounts, applying for credit cards, or planning for the future remains an arduous task for many in the LGBTQ+ community.

Daylight emerges as a beacon of hope for LGBTQ+ individuals seeking to improve their financial well-being. Founded by Billie Simmons, a trans woman and LGBTQ+ advocate, Daylight has developed a comprehensive suite of services that address the unique financial challenges faced by the community. Through its app and digital services, as well as the Daylight Visa card, members gain access to tools, insights, and best practices provided by LGBTQ+ experts. These resources empower users to manage their money effectively, set customized tracking goals, and access a network of live finance coaches specializing in LGBTQ+ money management.

Daylight’s emergence as the first fintech designed for and by the LGBTQ+ community marks a pivotal moment in the journey towards financial equality. By addressing the financial challenges faced by LGBTQ+ individuals and empowering them with the necessary tools, Daylight is leading the charge towards a world where one’s identity has no negative impact on their finances. Supported by Visa’s commitment to inclusion and equity, Daylight’s mission is not only to bridge the LGBTQ+ wealth gap but to create an environment where financial freedom is accessible to all. With Daylight, the LGBTQ+ community can embrace their financial journey with hope, confidence, and the assurance that they are not alone.