This startup bank's mission: Environmental justice

American Banker
Wednesday, February 10, 2021

For the second time in his career, entrepreneur Ken LaRoe decided to start a bank after being inspired by a book he read. This time it was "Drawdown" by Paul Hawken, and the new bank LaRoe seeks to open, to be called Climate First Bank, would enact some of the environmental principles it lays out. LaRoe chose Finastra as his primary tech partner based on its commitment to climate change as well as its ease of use and overall customer experience. The bank is expected to open in St. Petersburg, Fla., in May, provided it receives the necessary federal and state approvals, LaRoe said. In an interview, LaRoe shared how he plans to incorporate environmental principles at his new bank and how and why he chose the new company's core system.