SMB lender OnDeck ‘actively pursuing’ bank charter
On the heels of digital banking startup Varo Money applying for a banking license with the Federal Deposit Insurance Corporation ...
Tag: Varo Money
MoneyLion to use $160m funding to add savings, stock trading products
Personal finance app turned challenger bank MoneyLion, which has more than 5 million users, is seeking to lock in customers ...
Varo files FDIC application, announces $100m Series C funding
Varo Money, the 4-year-old digital banking startup with 750,000 users and $600 million in deposits, has applied for a banking ...
OCC reports on proposed innovation pilot program to Congress
On Tuesday, Beth Knickerbocker, the chief innovation officer for the Office of the Comptroller of the Currency (OCC), delivered testimony ...
Varo’s FDIC application tests uncharted territory
Varo Money has been striving to get a banking charter for three years. On Aug. 31, 2018, the digital-only challenger ...
Why digital-only Grasshopper Bank chose Temenos’ cloud-native T24 core
New York City-based Grasshopper Bancorp, a newly-launched digital-only bank targeting startups, was built from scratch with its sights on global ...
Despite Growth, Questions Remain with Challenger Bank Numbers
With hefty injections of cash and ballooning customer numbers, challenger banks are gunning for a greater share of incumbent banks' ...
Fintechs Face Difficult Regulatory Realities on Charters
WASHINGTON, D.C. — Fintechs are having trouble facing reality when it comes to obtaining bank charters, FDIC Chairman Jelena McWilliams ...
Varo Money Announces Preliminary Approval for OCC Charter
The digital banking service Varo Money announced last night it had received preliminary approval for a national banking charter from the ...
Varo Money Raises $45M To Become ‘A National Bank’
Startup Varo Money has raised $45 million for its plans to become a full-fledged, “national bank,” the startup announced yesterday. ...
