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How Kinly Can Help Black Americans Build Generational Wealth



Kinly is a modern banking platform designed to meet the unique financial needs of Black Americans.

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After the protests following the murder of George Floyd, Donald Hawkins began looking at modern banking platforms for the black community. He found that there was almost no one in his search. That revelation sparked Hawkins’ desire to start his own banking platform. One that could serve a more meaningful purpose for black communities.

In 2020, Hawkins founded Kinly, a financial services company intent on helping Black America build generational wealth. The banking services company was officially launched in June 2022 and has hit the ground running. It improves financial livelihoods through financial education, black-focused spending and long Y wealth building.

Kinly and Haven Life recently partnered to offer affordable life insurance to Black Americans directly through Kinly’s app. We invited Hawkins to answer a few questions about Kinly and its key services. He also explained how Kinly can help black Americans achieve their financial goals and reduce the racial wealth gap.

Here is his response:

In this article:

What is Kinly?

“Kinly is a financial technology company proudly serving the unique needs of Black America and allies. Kinly’s goal is to empower members to take control of their finances by providing access to financial education, savings and investment tools.

“The Kinly app helps members manage day-to-day finances by offering early access to direct deposit funds, no hidden fees, overdraft protection, access to over 55,000 ATMs worldwide and the Kinly Visa® Debit Card.

“Our app is a gateway to managing your finances with transparency and quick access to your money through digital banking. We are embarking on an ambitious journey to be the trusted financial partner for Black America and for those who want to support Black-led institutions. “

How can people use Kinly to improve their finances?

“Kinly focuses on improving financial performance through many of its business benefits. It offers financial education, savings and wealth building, early access to paychecks, overdraft protection up to $100, no overdraft fees, no monthly fees and no minimum balances, and the company has members covered by Kinly Visa Debit Card Kinly also has fee-free ATM service at over 55,000 AllPoint locations and FDIC-insured deposits.

“Kinly has created an affiliate marketplace and partners with mission-driven organizations to provide our members with access to a wide range of financial services to facilitate their financial journeys.”

How does Kinly benefit future generations of black Americans?

“Given the fact that approximately half of Black America is unbanked or underbanked, the importance of developing a consistent and reliable platform for wealth building cannot be emphasized enough. A staggering 18% of African Americans have no relationship with banks at all.

“Phase one for us is creating that connection, building the relationship. As we continue to scale and grow as a company, we definitely want to get involved in a lot of other solutions for the community, whether it’s high-yield savings accounts, commercial banking, credit lending and the like.”

What else should people know about Kinly?

“We realize that it’s not enough for people to just say, ‘Hey, great, you look like me, I trust you.'” So we’re actively doing things within the community, and also through the features we provide to ensure that we helps develop that confidence.

“That’s why we provide a lot of these no-fee options, and no hidden fees and no minimum balances. It’s an investment we’re making in the community. And we hope the return on that investment is a more financially savvy customer.”

Our editorial policy

Haven Life is a customer-centric life insurance agency supported and wholly owned by Massachusetts Mutual Life Insurance Company (MassMutual). We believe that navigating life insurance decisions, your personal finances and overall well-being can be refreshingly simple.

Our editorial policy

Haven Life is a customer-centric life insurance agency supported and wholly owned by Massachusetts Mutual Life Insurance Company (MassMutual). We believe that navigating life insurance decisions, your personal finances and overall well-being can be refreshingly simple.

Our content is created for educational purposes only. Haven Life does not endorse the companies, products, services or strategies discussed here, but we hope they can make your life a little less difficult if they fit your situation.

Haven Life is not authorized to provide tax, legal or investment advice. This material is not intended to provide and should not be used for tax, legal or investment advice. Individuals are encouraged to obtain advice from their own tax or legal advisor.

Our disclosures

Haven Term is a term life insurance policy (DTC and ICC17DTC in some states, including NC) issued by Massachusetts Mutual Life Insurance Company (MassMutual), Springfield, MA 01111-0001 and offered exclusively through Haven Life Insurance Agency, LLC. In NY, Haven Term is DTC-NY 1017. In CA, Haven Term is DTC-CA 042017. Haven Term Simplified is a Simplified Issue Term Life Insurance Policy (ICC19PCM-SI 0819 in some states, including NC) issued by CM Life Insurance Company, Enfield, CT 06082. Police and driver form numbers and features may vary by state and may not be available in all states. Our agency license number in California is OK71922 and in Arkansas 100139527.

MassMutual is rated by AM Best Company as A++ (Superior; Top category of 15). The rating is valid from 1 April 2020 and is subject to change. MassMutual has received different ratings from other credit rating agencies.

Haven Life Plus (Plus) is the marketing name for the Plus rider, which is included as part of the Haven Term policy and offers access to additional services and benefits at no cost or at a discount. The driver is not available in all states and is subject to change at any time. Neither Haven Life nor MassMutual is responsible for the provision of the benefits and services made available under the Plus Rider, which are provided by third party providers (partners). For more information about Haven Life Plus, visit: https://havenlife.com/plus.html

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  • The application was easy and got a big approval for life insurance without a medical exam within 48 hours. Good follow up and easy process.

  • Easy Breezy Wanted to get this done for a while and this was the easiest experience I could find. I feel good knowing there is some protection for my husband and likely dogs.

  • It was an easy process. The turnaround was also doable.

  • This was without a doubt the easiest way I have come across to research and get life insurance. Quick, easy and shows you cost etc… Definitely glad I listened to the wife and looked into it.

  • Plan to spend an additional $20 a month from your first quote even if you’re in perfect health. Had the exam, everything came back in normal range (green) but I still got my original quote up. A bit disappointing.


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