Visa will invest up to $100 million via deposits with MDIs to help catalyze increased lending among these banks.
Visa will help provide MDIs with access to unique tools and data, including Visa’s Spending Momentum Index (SMI) and by supporting the National Bankers Community Alliance’s digital impact measurement platform.
Visa will provide solutions designed for small businesses and families via Authorize.net and Visa’s digital learning platforms.
Creating more equitable wealth distribution requires more inclusive opportunities for MDIs to uplift the communities they serve. We are pleased this multi-faceted program will enhance the lending capacity of MDIs as well as empowering minority-owned and -operated banks with social and economic impact data to better serve their customers and communities.
— Nicole Elam, Executive Director of the National Bankers Community Alliance, the nonprofit affiliate of the National Bankers Association
Visa believes digital payments can uplift lives for everyone, everywhere. Our access to resources, advocacy and expertise means we are able to collaborate with a wide range of society, business and government partners to support this mission.
In the U.S., Visa is applying its business solutions and working with partners to increase access to insights and resources to help reduce economic disparities and boost access and opportunity in communities of color. We are excited about the launch of the Visa MDI Accelerate program to support the critical role MDIs have played across the U.S. for decades.
Visa MDI Accelerate will be a multi-year program.
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