Climate First Bank launches in Florida with Finastra Phoenix at the core
New US community bank Climate First Bank has launched with a focus on lending for green initiatives and sustainable projects.
Climate First Bank has launched this summer
FinTech Futures reported on the bank’s road to launch in February, when it selected a suite of Finastra systems.
This includes the Fusion Phoenix core banking system, Fusion Digital Banking, and Fusion Total Lending.
Six founding directors make up the bank, chaired by Ken LaRoe. LaRoe has founded two other banks, Eustis-based First Green Bank and Florida Choice Bank.
The bank operates as a full-service community bank offering personal and commercial banking services, and claims to be carbon neutral from “day one”.
It offers personal and business loans, deposit accounts, and cash management via online, mobile, and branch-based banking. Its headquarters and single branch is in St. Petersburg.
The bank says it works with a variety of environmental businesses in the Florida area, including Florida for Good and the Florida Benefit Corporation.
Climate First also aims to adhere to the UN Principles for Responsible Banking (PRB), which aim to “embed sustainability at the strategic, portfolio, and transactional levels”.
The Floridian bank appointed its chief technology officer Marcio deOliveira in May, a former vice president at Y Combinator-backed Prelim.
First Climate joins a rising cohort of fintechs and banks focusing themselves on environmental concerns and the green economy.
This includes UK-based Tred, social impact application Tickr, and carbon impact challenger bank Creed.
