Americas Series with David Yakobovitch: FinTech vs. traditional bank - the technology advantage with Deep Varma, CTO at Varo Bank
In this episode of the Americas Series, David Yakobovitch spoke to Deep Varma, CTO at Varo Bank about the technology edge of FinTechs vs incumbents and how that translates to customers first approach that works and it's not just a PR slogan.
Here is what they covered:
How Varo’s technology-centric approach allowed the bank to stay focused on its mission and purpose
Technology advantage of FinTechs over traditional banks
Not good vs. bad, but challenges of managing a legacy architecture
How banks' technology stacks are keeping them from being truly customer-centric
Compare Varo’s approach and how technology allows it to put customer needs first
How do you build and scale a tech organization - what kind of people do you need, when is the right time to think about technology implementation, etc.
How you think about technology differently when you are building from the ground up
Why it’s so important to stay truthful to your mission and purpose and to focus on customers. How technology can play a role in those efforts
Key advice to founders: who and why you are serving your customers