A Fight for Racial Justice is A Fight for Financial Health

Racism is in direct opposition to Digit’s mission of making financial health effortless for everyone. To fulfill our mission, we must recognize that institutionalized racism and financial health are inextricably intertwined.

Due to structural and systemic injustices, the Black community and other communities of color are far more likely to face financial hardship. The disparity is staggering. White Americans have about six times more wealth than Hispanic and Black communities. And double the income (source). The Black community has less access to traditional banking and is forced to depend on more expensive financial services (source).

Black Lives Matter. My heart breaks for the families of George Floyd, Breonna Taylor, Ahmaud Arbery, and too many others. Digit unequivocally stands with the Black community against racism, violence, and hate. We know that words alone are not enough. Heartache must give way to action. While it will take time to identify our longer term actions, we commit to these immediate next steps:

  1. We are making anti-racism resources available to all employees and our Sr. Leadership team is going to be running an optional Black Lives Matter bookclub starting with “Stamped From the Beginning” by Ibram X. Kendi. We are inviting all of our employees to join us and engage in company-wide dialogue.

  2. We are doubling down on our commitment to fostering a diverse and inclusive workforce where all employees feel like they belong. Diverse candidate pools will continue to be part of our formal company goals and we are increasing our efforts to make this conversation a larger part of company discourse. We’ll have more to share soon.

  3. We have kicked off a project to ensure all aspects of our product experience are inclusive and supportive. To start, we have updated all media in our daily notifications and are making sure in-app emojis include all skin tones. We should have done this sooner and commit to doing better.

  4. Members of our Sr. Leadership team will be personally matching all employee donations up to $10,000 to causes dedicated to combating and countering acts of racial violence, reforming US policing practices, and challenging racial and economic injustice.

This is just the start and we know that there is much more to do. We promise to share our longer term commitments as they become clear. Real progress will require collective and continued action. We hope you’ll join us.

- Ethan Bloch, Digit CEO