Diversity Tech Platform ‘Choir’ to Close by End of 2024
In a significant development for the financial technology sector and diversity initiatives, Choir, a platform dedicated to certifying conference diversity, is set to shut down by the close of 2024. This decision is attributed to declining demand for diversity, equity, and inclusion (DEI) programs within the industry, compounded by challenges in maintaining sustainable operations. Despite its closure, a portion of the platform will remain publicly accessible until mid-2025, offering a glimpse into its pioneering efforts in promoting conference diversity.
Background: The Launch and Vision of Choir
Launched in late 2021 by co-founders Sonya Dreizler and Liv Gagnon, Choir quickly positioned itself as a trailblazer in the financial services sector by introducing the first diversity certification program for conferences. Designed to address the underrepresentation of women, nonbinary individuals, and people of color at industry events, Choir’s initiatives aimed to galvanize change by holding conference organizers accountable to high diversity standards.
The platform’s “Conference Diversity Certification” scored conferences on their DEI commitments, awarding bronze, silver, or gold badges based on level of diversity. Simultaneously, “Choir Voices” connected diverse individuals with opportunities across conferences, podcasts, and media engagements.
The Reasons Behind the Closure
In an earnest letter to the Choir community, Dreizler and Gagnon laid bare the obstacles faced by the organization. “Startups are risky, and disrupting the status quo is hard work,” they noted, reflecting on the broader headwinds facing DEI efforts and diminished industry interest. They remarked on the challenge of sustaining involvement and enthusiasm in the sector, stating, “There has been less interest in allocating dollars toward DEI initiatives, particularly regarding racial diversity efforts.”
Additionally, both co-founders acknowledged their capacity constraints, leading to a “difficult conclusion” that maintaining Choir’s standard of excellence was untenable.
Local Impact and Community Reflections
The shuttering of Choir signals reverberations through the financial and tech communities deeply invested in diversity efforts. Local stakeholders within these sectors have expressed concern over the implications this closure might have on existing and future DEI initiatives.
Dr. Marcus J. Parker, a diversity consultant based in San Francisco, voiced his disappointment over this setback. “Choir was a beacon of progress within a space that often overlooks minority and marginalized voices. Its closure may temper momentum for similar initiatives but also underscores the necessity of unwavering commitment to diversity,” he said.
Historic Struggles and Ongoing Conversations
The wealth management and financial industries have persistently grappled with issues of diversity and inclusion, with Choir having been a much-needed catalyst for dialogue and reform. Previous attempts at fostering inclusion through conferences and other professional settings have yielded mixed results, often due to inconsistent funding and a lack of clear structural support. However, the dialogue ignited by these efforts continues to challenge perspectives and practices across sectors.
Jane Simmons, a community organizer in Washington, D.C., commented, “While the closure of Choir is discouraging, it must not halt the conversations it started. We, as a community, need to advocate for and support spaces that elevate diverse voices.”
Future Implications and the Path Forward
The closure of Choir undoubtedly poses questions about the sustainability of DEI initiatives in financial services and beyond. As financial institutions navigate acquisitions, mergers, and regulatory compliance, the prioritization of diversity must remain central, albeit challenging given fiscal constraints and evolving industry needs.
Looking ahead, Choir’s legacy may inspire alternative models and strategies for integrating diversity more comprehensively into industry paradigms. Developing partnerships with organizations committed to similar objectives and fostering collaborative networks could pave the way for sustainable diversity solutions.
Balancing Perspectives and Continuing the Dialogue
While some industry players express optimism, suggesting that a recalibration of DEI efforts may lead to more robust and targeted initiatives, others caution against complacency. Maintaining momentum requires ongoing investment, engagement, and accountability within all layers of industry infrastructure.
Choir’s co-founders emphasized this as they concluded their message to stakeholders: “While this chapter closes for us, we hope our progress serves as a stepping stone for other people. Many of you are working to make financial services more inclusive and more representative of the world around us.”
Engagement and Resources for the Community
For individuals and organizations wishing to deepen their involvement in DEI efforts, resources are available to support this transition period. Choir’s modified platform remains accessible until mid-2025, providing tools that can aid in identifying diverse voices and developing inclusive engagement strategies.
As the financial sector continues to evolve, the commitment to fostering diversity must persist, even amid challenging economic climates and shifting priorities. Through continued collaboration and leadership, the vision of a more inclusive professional landscape remains within reach, driven by the collective resolve of industry champions and community stakeholders.
