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Technology Forward, People First

December 10, 2020

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I came to this country in the nineties. As an immigrant, you often have to make your own financial resilience. It took me about two decades to get there.

In the US economy, these are three areas that are important for everyone: a place to live, good health, and financial stability. 

In 2013, I started thinking about these three areas as the places where my work could make the greatest impact as a technologist. I spent five years at Zillow/Trulia, before shifting to the FinTech side.

When I looked for my next opportunity, I spoke to many hiring companies, but Varo was the only company whose mission I resonated with.

The big banks look at average Americans and don’t see a profit, so they don’t want to do fair business with them. Because of that, millions of Americans don’t have power over their own destiny.

I came to Varo for for two reasons:

  1. The mission and purpose is directly aligned with my own personal mission and purpose of creating technology that is an enabler and bridges the gap of financial inequality. Varo can change the unfairness in the system.

  2. I wanted to bring the Silicon Valley technology framework to banking. Because I didn’t have prior banking experience, I wouldn’t be biased towards the systems that legacy banks used.

With Varo, I wanted to build a bank from the ground up starting with technology that always put the customer’s needs at the forefront.

By founding our bank with a technology-first mindset, we have a few main advantages over banks that have been around much longer.

  1. Clean and secure data

  2. Security embedded across our tech stack

  3. Modern technical architecture

  4. Built-in scalability and reliability with cloud-first framework

  5. Speed

Today, I’ll focus on the first two which are the most important to our customers’ experience. 

To build a truly customer-centric bank, we have to make everything we do support the customers’ needs. We make these decisions with data. 

A lot of data comes from interviewing and surveying customers, and a lot comes from the technology platform.

Our platform allows us to collect clean data to make accurate projections, predict trends, and develop machine learning to individualize the product experience.

The more Varo grows, the more data we’ll have, and the better products we’ll be able to offer our customers.

Our robust tech stack also means better security. Since we’re talking about people’s money, security is a top priority.

We invest a lot of resources into developing advanced security protocols, so our customers know that innovation also means a safer place for their money.

As the technology develops, so will the experience. But, one thing will stay the same, Varo will always look for ways to help customers to progress their own lives and build their own financial stability. They can count on the technology and they can count on Varo.

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Deep Varma

Deep Varma

Deep Varma is the CTO of Varo. Deep is committed to building the first technology-centric bank to help bridge the inequalities in the American financial system.

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