Varo Bank, N.A., a pioneer as the first nationally-chartered consumer techbank in the United States, proudly announces its inclusion in CNBC’s esteemed 2023 roster of the world’s top 200 fintech companies.
Collaborating with Statista Inc., a premier global statistics portal and industry ranking provider, CNBC conducted a comprehensive evaluation encompassing over 1,500 individual firms spanning nine distinct market segments. This rigorous assessment aimed to identify the forefront players in fintech, spanning domains like digital payments, lending, financing, and various banking facets. Varo Bank stood out and secured a coveted position within the inaugural listing, specifically within the Neobanking category.
Pepe Porrata, COO of Varo Bank, expressed his enthusiasm, stating, “We are thrilled to be featured on CNBC’s esteemed compilation of the World’s Top Fintech Companies. This recognition is a fitting tribute as we commemorate the third anniversary of our bank charter. At Varo, we harness our regulatory framework to extend secure banking solutions and reduced fees to hardworking Americans striving to make ends meet. Varo stands as a unique and unparalleled banking institution, dedicated to all.”
Noteworthy offerings from Varo Bank include the Varo Believe credit-building program, which was launched in 2021 with the aim of empowering participants to elevate their credit scores. Furthermore, the Varo Advance facility enables customers to instantly access up to $250 at an exceptionally low fee, facilitating the bridging of paycheck gaps and promoting positive cash flow. Notably, Varo Bank also boasts a high yield savings rate that ranks among the nation’s most competitive.