In 2021, DePaul alumna Marianne Markowitz (MBA ’92) did something no one had done in Illinois in over 15 years: she launched a new commercial bank.
First Women’s Bank isn’t just unique as a new venture in a highly regulated, capital-intensive field. It stands out as a mission-driven organization, founded with a strategic focus on supporting the women’s economy and closing the gender lending gap.
Five years on, we asked Markowitz — who was recently named by Crain’s Chicago Business to their 2025 list of Notable Leaders in Finance, along with three other DePaul Business alumni — about her experience. What does entrepreneurship look like in the banking sector? What does it take to address the gender lending gap?
Read on for her insights.
Closing the gender lending gap isn’t just about finance — it’s about confidence.
One of the biggest lessons I’ve learned is that the issue isn’t just about a gap in who can access capital. It is often linked to a confidence gap. One of the barriers women often encounter is the fear they feel: fear of discussing financing, or a magnified fear of failure. Helping a client or prospect feel seen, heard, and validated can help close that confidence gap and set them on the path to accessing capital.
How can banks support entrepreneurs? It helps to speak from experience.
We are the first new bank to launch in Illinois in over 15 years. While we have graduated from the start-up stage, our recent experience raising capital and building a team to launch a bank from the ground up — during a pandemic no less — gives us the ability to understand the persistence required to succeed.
Our first-hand experience of the daily pressures faced by entrepreneurs makes us a uniquely empathic financing partner. We understand the significance of the end result, but also the importance of saving minutes along the way, the critical need for frequent communication and creative solutions.
Entrepreneurship is about thinking outside the box — but also requires working within existing structures.
Banking is a highly regulated, capital-intensive space where trust is everything. When we launched First Women’s Bank, we weren’t just trying to build a compliant institution – we were reimagining what a bank could be and how it should show up for women and small businesses. That required a fundamentally entrepreneurial mindset: relentless problem-solving, bold vision, and a deep belief in the mission, even when the at times the odds felt stacked against us.
At the same time, I’ve learned that being an entrepreneur means you need to be both visionary and incredibly detail oriented. You must imagine the future while operating within a highly structured system. That tension can be challenging, but it’s also where real innovation happens.
Finding a career that aligns with your values can be transformative. It can also take time to get it right.
One of the most transformative moments in my career was realizing that I didn’t have to choose between using my skills and living my values, they could be aligned. When that happened, everything shifted. Work became more fulfilling, and I felt like I was contributing to something much larger than myself.
That doesn’t mean every step in your career will be perfectly aligned. Early on, I had roles that challenged me to grow and develop my skills, even if they didn’t fully reflect my personal mission. But over time, I kept coming back to that alignment. And when I finally stepped into roles, like launching First Women’s Bank, where purpose and expertise met, it was life changing.
To find success, take risks and asks questions.
For students, especially those just starting out, my advice is this: get clear on what matters most to you. Not just in terms of what you want to do, but in the kind of impact you want to have. Your values are your compass. They help you make decisions when things are uncertain, and they give you the strength to say yes or no when it really counts.
So be patient but be intentional. Ask yourself: Does this opportunity move me closer to the kind of leader I want to become? And don’t be afraid to take risks that align with your purpose, even if they’re outside the traditional path. That’s where the most meaningful growth happens.