News

Fortú, a neobank designed for the Latino community, launches

Tuesday 4 May 2021 13:01 CET | News

Fortú, a US-based neobank destined to serve the needs of the Latino community, has launched, being built on the payment processing platform provided by Galileo.

Fortú is focused on building culturally contextual financial services to meet the banking needs of Latinos and Hispanics in the US. The Fortú team is a mix of first and second generation immigrants with personal ties across Latin America (Brazil, Colombia, Mexico, etc.) and understands the quality-of-life improvement of culturally contextual financial products.

The Latino community is one of the growing demographics in the US, yet college-educated Latinos are three times more likely to be underbanked than their Caucasian counterparts. According to the Federal Reserve, 10%  of Hispanic adults are unbanked, and an additional 22% are underbanked. 


Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: fintech, payment processing, financial services, banks, digital banking
Categories: Banking & Fintech | Online & Mobile Banking
Countries: United States
This article is part of category

Banking & Fintech