Citi is Seeking to Accommodate Trans and Non-Binary Customers
References: banking.citi & fastcompany
Many major banks are beginning to adopt preferred name credit cards, with the hopes of creating a safer and more accommodating space for members of the LGBTQ+ community who use their services. Citi is the latest bank to join MasterCard's True Name initiative. When debuting back in 2019, the credit card company referred to a study by the National Center for Transgender Equality that revealed that "32% of people whose IDs list incorrect names or genders have faced such issues as harassment and denial of services." The campaign seeks to end the misrepresentation of non-binary and trans people when it comes to the finance space.
In order to opt-in for the preferred name credit card, individuals need only to request it and no legal name change is required.
Image Credit: Citi
In order to opt-in for the preferred name credit card, individuals need only to request it and no legal name change is required.
Image Credit: Citi
Trend Themes
1. Preferred Name Credit Cards - Credit card companies are developing preferred name credit cards to end the misrepresentation of non-binary and trans people in the finance space.
2. True Name Initiative - MasterCard's True Name initiative is inspiring banks to accommodate members of the LGBTQ+ community through preferred name credit cards.
3. Safer Banking Spaces - Creating safer and more accommodating spaces for members of the LGBTQ+ community to use financial services is a trend being adopted by many major banks through preferred name credit cards.
Industry Implications
1. Banking - The banking industry is responding to the need for more inclusive and accommodating services for members of the LGBTQ+ community through preferred name credit cards.
2. Credit Cards - The development of preferred name credit cards is disrupting the traditional credit card industry by offering new and inclusive options for customers.
3. Finance - Through the True Name initiative and the creation of preferred name credit cards, the finance industry is able to address the needs of non-binary and trans people that were previously ignored.
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