Eight months after its debut, more than 10,000 customers have signed up for the service, which allows transgender and nonbinary consumers to use their chosen name.

Global Payments' TSYS subsidiary and BM Technologies will offer the program, which allows transgender and nonbinary consumers to use their preferred name on payment cards.

Daylight, a digital banking platform for the LGBT community, uses its customers’ preferred names on debit cards rather than their legal names. Through a new social media campaign, the company is encouraging the American Bankers Association and its members to do the same.

“You all will not let me breathe” is just one example in the CFPB’s complaint database where a consumer likened alleged mistreatment by a financial institution to social injustice. An artificial intelligence firm uses technology to help companies flag such language.

JPMorgan Chase scrubbed its bylaws of gender designations as pressure grows from both society and investors on global businesses to show they are diversifying and becoming more inclusive.

New brands are emerging to improve banking services to targeted consumer segments, and Daylight is one intent on winning over the LGBTQ market. What are mainstream banks getting wrong that leaves an opening for niche brands like Daylight?

The response exceeded expectations, with more than 1,600 Citi customers requesting a name-change on their cards within the first few weeks of the program.

Citigroup is now the third, and largest, U.S. financial institution to offer the Mastercard True Name feature, which lets customers use their preferred name, rather than their legal name, on credit and debit cards. The cards are targeted specifically for transgender and nonbinary people, who often face outsized financial hardship.

Bank leaders should embrace the decision in their efforts to guard against reputational and workplace risks.

Stephanie Epstein, Managing Director, Global Head of Models Infrastructure at BlackRock talked with Gemma Postlethwaite, CEO of Arizent in the early days of the Covid-19 crisis about purpose-led workforce management and how the crisis may have lessons for leadership in supporting the needs of diverse teams.