Chief Executive Officer (CEO)
Shannan Herbert is the Executive Vice President of Inclusive Credit for Stratyfy, a women-led fintech company on a mission to drive greater financial inclusion by introducing technology that eliminates bias in critical financial decisions. Backed by innovative investors, Stratyfy secured 10 million in funding to make this mission a reality. A mission Shannan has lived throughout her career. Since joining Stratyfy, Shannan has led strategy and program creation for Community Development Financial Institutions and large to mid-size community banks, by illuminating the use of emerging technologies to better serve individuals typically excluded from the financial system. Partnering with Beneficial State Foundation, Shannan has been instrumental in the launch of the Underwriting for Racial Justice (URJ) pilot program. Through this program, 20 financial institutions are leveraging Stratyfy’s technology to develop implementable credit strategies that increase credit access for underserved/underrepresented communities. Within URJ, Shannan has also co-created the Reimagining Risk Training Module, where she helps financial professionals understand the complexities of what it truly means to create financial inclusion. Before joining Stratyfy, Shannan served as Executive Vice President and Chief Credit Officer for City First Bank, one of the largest Black-led Community Development Financial Institutions and Minority Depository Institutions in the country. With more than 20+ years of experience, Shannan has served in key leadership roles for most of her career, leveraging her expertise to direct enterprises in the strategic development and delivery of value-driven, user-friendly solutions in the commercial credit and financial services arena. Focused on providing capital to under-resourced groups that have historically been denied access to funding, Shannan has helped numerous companies owned by people of color and women thrive.
An active member of the Washington Metropolitan area, where she was born and raised, Shannan currently serves as Chair of the board of Beacon House. This nonprofit organization offers one-on-one mentoring, educational support, and sports programs for children in the Edgewood affordable housing community of Washington DC. As the Vice Chair of Rochdale Capital, Shannan chairs the loan committee of this emerging CDFI that provides capital to Black- and Brown-led small businesses and cooperatives. She also serves as a board member of Women in Consulting and the Arc of Prince Georges County. In addition to her community work, Shannan is a member of the Risk Management Association Community Bank Council, Forbes Finance Council, Homeownership of America Advisory Council, the Equitable Bank Standards Advisory Board, and the Black Women Film Network Advisory Board. She’s also a small business mentor with Loyola University Maryland’s Baltipreneurs program.
An industry leader, Shannan is frequently sought out to join panels, forums, and conferences to share her expertise. Her insightful contributions have been showcased in reputable publications such as Forbes, Next City, and The Financial Revolutionist. Shannan’s outstanding work in financial technology earned her the BAI Global Innovation Rising Star Award in 2023. Acknowledged amongst her peers as a prominent advocate for racial equity in lending, Shannan is currently channeling her passion into the creation of a documentary that explores the profound effects of racial financial trauma.
Shannan is a proud graduate of Howard University and holds an MBA from Loyola University Maryland.