A Look at Varo Money’s Road to Becoming a Bank

American Banker sat down with Varo Money CEO Colin Walsh to talk about where the company stands in their quest to become a national bank; the company received approval from the OCC but is still awaiting word from the FDIC, though they have had productive meetings; the road has not been a straight one but Walsh believes they made the correct move and he is patient to stay the course; they hired two former staff members of the OCC and a new CTO, Deep Varma from Trulia; Opening a bank is not an overnight process, but I certainly feel really positive about the steps that are being taken to get there,” Walsh said to American Banker; the fintech helps provide a road for other fintechs to potentially follow, though right now the OCC fintech charter has garnered more attention than going the national bank route. Source.

  • Todd is the host of PitchIt: the fintech startups podcast, a weekly interview show featuring emerging fintech founders and leading venture capitalists. He is responsible for leading the content team which covers fintech through daily & weekly email newsletters, editorial, virtual events, and in-person conferences. He has been covering fintech, banking, and venture capital for more than 15 years, including speaking regularly at industry events.

Sign up for our Newsletters

Every morning the Fintech Nexus News team scours the globe for the most important fintech stories of the day in the daily Global newsletter.

The Europe edition comes out on Monday, Wednesday, and Friday featuring the most important stories in European and UK fintech.

The Latin American newsletter arrives in your inbox on Tuesdays and Fridays. This is a trilingual newsletter featuring stories in Spanish, Portuguese, and English.

Join 20,000 subscribers!