Varo Bank, N.A., the U.S.’s first nationally-chartered consumer techbank, announces it has been named to CNBC’s 2023 list of the top 200 global fintech companies.
Presented by CNBC and partnered with Statista Inc., the world-leading statistics portal and industry ranking provider, Statista analyzed over 1,500 individual firms across nine market segments to determine the top fintech companies across digital payments, lending, financing, and other banking sectors. Varo Bank was honored with a spot on the inaugural list under the Neobanking category.
“We are using our position within the regulatory system to provide Americans living paycheck to paycheck with banking safety and lower fees.”
“We are delighted to be placed on CNBC’s list of the World’s Top Fintech Companies, and this is the perfect way to celebrate the third anniversary of our bank charter,” shared Pepe Porrata, COO of Varo Bank. “We are using our position within the regulatory system to provide Americans living paycheck to paycheck with banking safety and lower fees. Varo is truly a ‘category of one’ bank for all of us.”
The Varo Believe credit-building offering launched in 2021 can help participants increase their credit scores. Additionally, by allowing customers to instantly borrow up to $250 with a very low fee, Varo Advance has helped customers bridge paycheck gaps to maintain positive cash flow without paying high fees and a high yield savings rate that is one of the highest in the country.
About Varo Bank, N.A.
Varo Bank is a new kind of bank ⎼ the first nationally-chartered consumer techbank in the U.S., built from the ground up with a focus on the needs of Americans living paycheck to paycheck. From credit building to savings to faster payments, Varo has a complete solution to help hard working people make progress in their financial lives. Varo combines the capabilities and nimbleness of a technology company with the security and oversight of a regulated financial institution, enabling agile product design that provides technology-first solutions such as Varo Believe, a secured card to help build credit; Varo Advance, to help stretch hard-earned dollars between paychecks; and a high-yield savings account, offering rates up to one of the nation’s highest APY rates. Varo has been named on CNBC’s 2023 list of the World’s Top Fintech Companies, one of Forbes’ World’s Best Banks in 2022, Fast Company’s Most Innovative Companies, and is on the Inc 5000 fastest-growing growing companies for 2022. For more information on Varo Advance, Varo Believe, and other offerings such as Perks, visit www.varomoney.com, like Varo Bank on Facebook, and follow us on Instagram and Twitter @varobank. ©2023 Varo Bank, N.A. Member FDIC.
Media Contact: Audrey Jacobson, Consort Partners
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SOURCE Varo Bank