R3 Score Launches ‘Bank on 100 Million’ Campaign to Foster Racial and Economic Equality for Americans with Criminal Records.
R3 Score Technologies, Inc., GlobeNewswire - Yahoo Finance October 8th, 2020
It’s Easy to Participate -Take the Pledge, Review your Policies and Practices, Use R3 Score!
BALTIMORE, MD, Oct. 08, 2020 (GLOBE NEWSWIRE) -- via NewMediaWire \-- R3 Score Technologies, Inc. ("R3 Score"), a newly established public company via a share exchange agreement (OTC PINK: GBBT) and SaaS company providing a more contextualized criminal background check, today announced it has launched the ‘Bank on 100 Million’ campaign (www.Bankon100Million.com). The campaign is designed to encourage the private sector to evaluate employees and consumers with records more fairly than ever before -- treating them as potential candidates rather than unfairly discriminating against them.
Joining the campaign begins with businesses and financial institutions taking the Bank on 100 Million pledge, which simply states the organization's commitment to inclusive policies and practices that do not disqualify talent or customers solely based on a background check -- promoting racial and economic equality for all. Beyond the pledge, entities are invited to take the next two steps: build a community of stakeholders to assess current policies and practices (and if necessary establish new ones) and use R3 Score as a means to operationalize their values.
R3 Score was co-founded by a nationally recognized criminal justice advocacy team and is led by Laurin Leonard. Laurin co-founded R3 Score with her mother, Teresa Y. Hodge, as a result of their lived experience with mass incarceration.
“The current climate in America is forcing corporations to evaluate their longstanding systems that have created a culture of dismissing certain candidates due to a criminal record,” said Laurin Leonard, R3 Score CEO and Co-Founder. “We are proud to launch Bank on 100 Million to inspire change and create opportunities for those constantly judged by their worst mistake and not by their full potential.”
The U.S. has roughly five percent of the world's population and incarcerates nearly 25 percent of the world’s prisoners resulting in one in three Americans facing inequity and societal barriers due to having an arrest and/or conviction record. Today this equates to 70 million people and by the year 2030, it is estimated that there will be more than 100 million Americans with a criminal record.
The consequences of a criminal record are innumerable – particularly for people of color who are disproportionately impacted by the judicial system – leading to reduced employment consideration, lower credit scores, limited access to educational opportunities and financial services such as checking accounts, home, and business loans and many other products and services that require a credit and/or background check.
The Bank on 100 Million initiative challenges corporations to not only pledge to eradicate racial and systemic inequity but to examine the ways their policies, procedures, and practices may have built-in bias for the 100 million Americans who are disadvantaged by outdated risk models in employment and financial decision-making. Furthermore, the initiative asks companies to pledge to be a fair chance employer or fair chance banking institution.
For those who are seeking a tool to operationalize their commitment, R3 Score will provide a discount code to utilize the company’s technology, instantly equipping organizations with an improved criminal background check and alternative credit score tool. Through the use of R3 Score’s tools and resources, consumers with a record can achieve a more equitable chance for opportunity while providing employers a larger and more diverse applicant pool.
Companies across the nation are questioning the status quo in light of the social unrest and the slow pace of criminal justice reform. However, few have articulated actionable plans to tackle the systemic oppression ingrained in America. With nearly one in three Americans suffering from the effects of police and carceral state expansion, Bank on 100 Million encourages businesses to implement tools and resources that will contribute to driving better outcomes for diverse talent and customer pools.
Companies can transcend outdated, static risk models and graduate to a modern risk model with the adoption of tools, such as R3 Score, designed to better illustrate the nuance of individuals living with a criminal record.
To learn more about the Bank on 100 Million initiative, please visit www.Bankon100Million.com
About R3 ScoreR3 Score’s AI-enabled, financial software platform uses proprietary data-driven scoring designed to unlock new valuable information about employees and financial services consumers utilizing a multi-factor algorithm based on 11 factors assessing character, capacity, and current choice.
R3 Score’s software creates a contextualized background report and alternative credit score for use by businesses of all sizes and in every industry. R3 Score currently trades on the OTC Market Group PINK marketplace under the symbol GBBT. With the transaction now completed, R3 Score intends to apply for a change in trading symbol to more accurately reflect its name and brand. To learn more about R3 Score, visit www.R3Score.com
Company Contact: Laurin Leonard CEO & Co-founder [email protected]
Investor Relations Contact: TraDigital IR Kevin McGrath +1-646-418-7002 [email protected]
MJ Clyburn +1-917-327-6847 [email protected]