Varo Money will implement Temenos’ T24 Core Banking system, the bank has announced. The San Francisco-based fintech start-up has secured more than $79m in funding in the last two years and recently won preliminary approval for a national bank charter. Varo now wants to create its own tech platform as it seeks to expand its range of services targeted at millennials nationwide. The bank will also use Temenos’ cloud-based Lifecycle Management Suite to expand its business to include credit cards, home loans and other products.
Varo Money will implement Temenos’ T24 Core Banking system, the bank has announced. The San-Francisco-based fintech start-up has secured more than $79m in funding in the last two years and recently won preliminary approval for a national bank charter. Varo now wants to create its own tech platform as it seeks to expand its range of services targeted at millennials nationwide. The bank will also use Temenos’ cloud-based Lifecycle Management Suite to expand its business to include credit cards, home loans and other products.