The First LGBT+ Digital Banking Platform Has Launched

Daylight, formerly Be Money, has launched and it is the first and only digital banking platform in the U.S. specifically designed for and by the LGBT+ community.

The Daylight platform was created to help LGBT+ people navigate their finances and prepare for their futures through products and content designed specifically for their unique needs. This could mean saving to start a family or even gender transitioning costs.

“Outside of media, dating and apparel brands, there’s little focus on the adult lives of LGBT+ people,” Rob Curtis, CEO of Daylight told CNBC Select.

The company’s chief of staff Billie Simmons points out that there are an estimated 30 million people in the U.S. who identify as LGBT+ and it is a hugely underserved community.

Daylight will start operating in mid-December with an invite-only beta phase for a few hundred people and an initial focus on consumers in California and New York.

The company then plans to expand from there. To request an invite you visit joindaylight.com.

Forbes has said of Daylight that it is “Designed with inclusivity in mind from the get-go to fix a banking system that … wasn’t designed for us.”

Per the company’s website, “Banking beyond the rainbow means we’re not just slapping colors on your Daylight Visa® Prepaid Card and calling it pride. We’re making it our top priority to create LGBT+ wealth. And that starts with the tools, resources, and roadmaps we offer you.”

The Daylight platform is backed by Marqeta, a global card issuing platform, and Visa. While there’s currently no card loyalty program, Curtis mentioned there are plans to explore programs down the line.

It will offer a wide range of products, including the Daylight Visa® Prepaid Card. There’s also an app that offers tools and advice to help the LGBT+ community expand their financial skills and plan for their future.

Disclaimer: We have no position in any of the companies mentioned and have not been compensated for this article.