Varo Bank Names Sachin Shetty Chief Technology Officer, Appoints Lisa Violet Head of Strategic Partnerships

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Mar 30, 2023, 08:00 ET

SAN FRANCISCO, March 30, 2023 /PRNewswire/ -- Varo Bank, N.A., the first all-digital, nationally chartered consumer techbank in the U.S., today announced the appointment of Sachin Shetty as Chief Technology Officer and Lisa Violet as Senior Vice President, Strategic Partnerships. Shetty, a seasoned technology innovator, joins the bank to take Varo's techstack to the next level, while developing technology to support greater scale and innovation. Former Varo Bank Chief Auditor, Lisa Violet, has been appointed to the newly-established role to spearhead the bank's strategic partnerships, driving incremental revenue and accelerating growth.

An industry veteran known for building high performance tech organizations, Shetty most recently served as Chief Technology Officer for Addi, a digital commerce pioneer bringing payment flexibility to a population in Latin America who are largely without access to traditional credit cards. Previously, Shetty served as Senior Vice President and Head of Engineering at Clover, a point-of-sale solution for small-to-medium sized business owners, where he led a team of 400 engineers. Shetty brings experience building applications from the ground up to deliver architecturally elegant software systems that are both scalable and operationally viable.

"With its cutting-edge technology, Varo has the ability to help millions of Americans striving to build financial wealth, realize their financial power, and unlock prosperity," Shetty said. "I look forward to leading Varo's talented team and to connecting technology, product, data, and design to help consumers realize economic mobility."

Since joining the company in 2019, Lisa Violet has played a critical role at Varo Bank. As the first Chief Auditor, Violet built the audit function as the organization secured its industry-first consumer de-novo national bank charter. Violet co-sponsored the establishment of Varo's DEI Council and has represented Varo at industry trade associations as a thought leader. Her advocacy for the prosperity of Varo's customers and deep financial services expertise will ensure that Varo's strategic partnerships reflect the bank's values and mission.

"I am thrilled to evolve my position at Varo and oversee the Bank's Strategic Partnerships," Violet said. "By integrating like-minded partners into Varo's industry-leading value chain to break down barriers to financial access, we can help the Americans historically left behind by traditional banks go from surviving to thriving financially."

"These two executive appointments reflect Varo's commitment to designing a bank that works for everyone. Industries can be reimagined when every element of innovation–from product, to technology and partnerships–come together to serve people better," concluded Colin Walsh, Varo Bank founder and CEO.

About Varo Bank, N.A.

Varo Bank is the first all-digital, nationally-chartered U.S. consumer techbank built from the ground up, designed to make financial inclusion and opportunity a reality for all. As a techbank, Varo combines the capabilities and nimbleness of a technology company with the security and oversight of a regulated financial institution, enabling agile product design that provides technology-first solutions to meet customers' most important banking and money management needs. Varo Bank is reimagining the modern banking experience with products such as Varo Believe, a secured card to help build credit, Varo Advance, to help stretch hard-earned dollars between paychecks, and a high-yield savings account offering rates up to one of the nation's highest annual percentage yields. Varo has been named one of Forbes' World's Best Banks in 2022, Fast Company's Most Innovative Companies, and is on the Inc 5000 list of fastest growing companies for 2022. For more information on Varo Advance, Varo Believe, and other offerings such as Perks, visit www.varomoney.com, like Varo Bank on Facebook, and follow us on Instagram and Twitter @varobank. ©2023 Varo Bank, N.A. Member FDIC.