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Temenos to support Varo Money’s bank launch

Theo Osborn | 14:00 Friday 14th September 2018

Varo Money has signed up for Temenos’ T24 core banking as it prepares for the launch of its new bank in the United States.

The mobile banking service provider will also use the lifecycle management suite, which will be implemented on the Temenos Cloud.

The partnership will provide Varo with a real-time customer experience across product lines and delivery channels.

Varo currently offers demand deposit accounts, high-interest savings accounts, and personal loans as it looks to introduce an expanded line of retail banking products over time.

Colin Walsh, co-founder and CEO at Varo Money, said: “When looking for a core banking platform, we weren’t just looking for a vendor and a system, we wanted a provider that would truly partner with us in order to achieve our vision.

“Temenos was able to demonstrate that [it] had the commitment and world-class technology to support a strategy that was customer-centric instead of product-centric, and deliver on the real-time, omnichannel experience we are crafting for our customers.”

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