![]() That stands to change thanks to an emerging area of digital banking that is rethinking the conventional rules. “This is clearly a group with specific needs from financial institutions and those needs are not being fulfilled,” says Tyler Griffin, co-founder and managing partner of Restive Ventures, a venture capital firm that invests in early-stage fintech companies. People who fall under the LGBTQ+ umbrella often face a number of added complications when it comes to finance, such as having less financial support and therefore taking on more debt, or same-sex couples being denied mortgages at a higher rate than heterosexual couples. There are many banking products trying to make financial services more accessible, but persistent service gaps can still make the experience lousy at best and discriminatory at worst for some - including the at least 20 million lesbian, gay, bisexual, transgender and queer or questioning adults in the U.S. “These are painful reminders of their history they really want to avoid.” “These are really emotional things for trans people,” Simmons says. She also received emails from her bank that used her former name. “Every time I logged into my banking platform, I had to deadname myself, which is to use the name that I used before I transitioned,” Simmons says. ![]() Banks are known for running on dated technology platforms that make even small requests often impossible to resolve in a timely manner. Simmons secured a new card with her name, but was unable to update her username to access her digital account. Nor did the name change end all her banking headaches. But for Simmons, it effectively meant outing herself as a trans woman to a bank employee. For some, it would have been merely an inconvenience, as the banking industry is legally bound to prove people are who they say they are. More details on software and accessibility are available at Billie Simmons needed to change her name on her bank card, she visited the financial institution to make the request. For visitors with visual disabilities, access to this website, including our FICO Data Privacy Policy, is available through assistive technologies, such as BrowseAloud, JAWS, VoiceOver, Narrator, ChromeVox, and Window-Eyes. Further information is available in our FICO Data Privacy Policy. ![]() ![]() When you register for our products and services, we also collect certain personal information from you for identification purposes, such as your name, address, email address, telephone number, social security number, IP address, and date of birth. PRIVACY NOTICE: When you visit this website we collect your browsing activities on our site and use that information to analyze and research improvements to the website, and to our products and services. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Many factors affect your FICO Scores and the interest rates you may receive. Equifax Credit Report is a trademark of Equifax, Inc. Learn moreįICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Your lender or insurer may use a different FICO ® Score than the versions you receive from myFICO, or another type of credit score altogether. All rights reserved.Īll FICO ® Score products made available on include a FICO ® Score 8, and may include additional FICO ® Score versions.
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