Day Two: Ensuring Data is Fit For Purpose and Protected
Tuesday, October 6th, 2020
Varo Money has a mission to help people make progress with their financial lives. As the leading challenger bank in the US, Varo has been granted preliminary approval for a de novo national bank charter by the Office of the Comptroller of the Currency (OCC) and aims to be the first mobile-centric national bank in U.S. history. Varo is in a unique opportunity to build a data organization with the future of banking products in mind, free from the constraints of legacy systems and historical processes. Fiona will discuss how the data organization is being created around a more proactive approach to data as a critical business driver, including:
- Creating a culture of data stewardship where everyone treats data as a strategic asset
- Building a data infrastructure to enable innovation and agility
- Maintaining rigor to meet regulatory requirements while prioritizing an 'offense' approach to data strategies
On an international level, we’re starting to see market fragmentation and data and reporting are connected to this. How can data move the world forward, particularly around the digitization of transactions and digital identities? What will the role of Fintechs look like?
- What are the pros and cons of relationships between Fintech and banking and how do we see this evolving?
- How will governmental data strategies impact our industry?
- What existing products do we expect will become obsolete?
- How can you position yourself to use data to take advantage of new product opportunities?