Financial Opportunity for Everyone

David Dwumah, MSIS ’01, is planting the seeds of financial equity as the founder and CEO of OurBanc, a financial technology company dedicated to reducing the racial wealth gap by providing equitable, sustainable and inclusive financial products and services. 

“Growing up in Ghana, I’ve always been intrigued by susu,” Dwumah stated. “It’s an informal community-based savings practice that enables family and friends to borrow and lend money to each other.”

OurBanc, and Dwumah, use this model as their overarching theme; the belief in people helping people. OurBanc recognizes that Black, Hispanic and Indigenous communities are historically disenfranchised communities — only 15% of Black and 24% of Latinx Americans are considered financially healthy, compared to 39% of White and Asian Americans. By recognizing the challenges historically disenfranchised communities face and advocating for change, they are contributing to a more equitable entrepreneurial landscape.

“Supporting minority business founders goes beyond just financial investment,” Dwumah stated. “It involves creating an inclusive ecosystem that provides mentorship, operational support and infrastructure.”

With more retail and start-up companies relying on cashless finances, there seems to be an ever-growing need for instant payments. OurBanc provides banking services through banking partners that connect members with tools that are relevant to the current payment and banking landscape. 

“OurBanc is the culmination of my personal experiences, belief in people helping people, and the strategic use of appropriate technology, such as real-time payments adoption, to improve lives,” Dwumah shared. 

OurBanc enables everyday people to learn about early-stage investing and invest alongside institutional and accredited investors. The ability to do so ensures more open and inclusive access for financial growth. 

“We are hopeful that our journey and efforts will help create opportunities for yet-to-be-discovered geniuses who will do great things beyond our wildest imagination.”

Dwumah hopes to be known as someone who advanced inclusive banking options and drove more financial opportunity.