Varo Prosperity Podcast

Colin Walsh
  • 5.0 (1)
  • INVESTING
  • UPDATED WEEKLY

Financial resilience is a continuous challenge for many because of the broken wealth ladder. Join Varo Bank’s CEO, Colin Walsh, and other influential industry leaders, as they discuss breakthrough initiatives designed to help people live better lives. Explore how reimagined policy, regulation, and technology-first banking solutions are essential to providing financial access and inclusion. Whether you are a financial industry influencer, investor, or regulator, this podcast is for you!

Episodes

  1. Special Episode: Supporting Veteran Families Living Paycheck to Paycheck

    2023-11-09

    Special Episode: Supporting Veteran Families Living Paycheck to Paycheck

    About Maj. Gen. Steven Lepper: Steven J. Lepper became the Association of Military Banks of America’s (AMBA) President and Chief Executive Officer in 2015 after serving for one year as the Acting Director and Deputy Director of the American Bar Association’s Rule of Law Initiative and for thirty-five years as an Air Force judge advocate culminating in his service as Deputy Judge Advocate General of the Air Force. A retired Air Force major general, Steve has spent most of his career as a legal advisor and counselor to senior U.S. government and military leaders. About Shannon Razsadin: Shannon Razsadin became the Military Family Advisory Network's (MFAN) president in 2020 after serving as executive director since 2015, a role she maintains to this day. She advocates for service members, veterans, and their families by translating their needs in an effective way for service providers to comprehend. A subject matter expert on the military-civilian divide, family well-being, and financial readiness, Shannon has contributed to major global media outlets and spoken at the White House Conference on Hunger. In this episode, Colin, Gen. Leper and Shannon discuss: - Collaborative solutions provided by AMBA and MFAN. - Unique financial challenges faced by military families and veterans in a post-pandemic world, navigating housing transitions in active duty and veteran life, and how military families can achieve financial stability and wealth equity. Key Takeaways: AMBA, with a history dating back to 1959, facilitates vital connections between military members and banks through initiatives like the Armed Forces Financial Network, ensuring global access to funds. Meanwhile, MFAN, in its decade-long journey, leverages data and collaboration to empower modern military families, addressing financial challenges in innovative ways. In a post-pandemic world, military families and veterans face unique financial challenges, including job instability, frequent relocations, limited credit options, and lack of financial education. These issues highlight the importance of programs like the Veterans Banking Benefits Program. Military families face uncertainties in long-term living due to frequent relocations, making homeownership decisions difficult. Banks can help by providing personalized advice and navigating sudden moves, offering crucial support beyond typical financial situations, and easing the burden on military families' financial lives. The future of military banking aims to provide veterans with a more interactive and comprehensive financial experience. The launch of VBBP 2.5, featuring a new platform called VetCents, offers financial education and guidance, all designed to help military families achieve greater wealth equity and financial stability. "What we exist to do and what banks should all strive to do is simply to understand the financial challenges that their military and veteran customers face. That's really the first and most important way for the banks to be able to help them." — Gen. Steven Lepper "One of the things that we have really seen work and be successful is when the community and people who are serving this population are aware of the resources so that we can take a no wrong door approach." — Shannon Razsadin Connect with Maj. Gen. Steven Lepper:   AMBA website: https://ambahq.org/ VPPB website: https://veteransbenefitsbanking.org/ LinkedIn: https://www.linkedin.com/in/stevenlepper Connect with Shannon Razsadin:   MFAN website: https://www.mfan.org/ LinkedIn: https://www.linkedin.com/in/shannon-razsadin/ Connect with Varo:  Website - https://www.varomoney.com/ LinkedIn - https://www.linkedin.com/company/varobank/ Instagram - https://www.instagram.com/varobank/ Twitter - https://twitter.com/varobank YouTube - https://www.youtube.com/varomoney Audio production by Turnkey Podcast Productions. You're the expert. Your podcast will prove it.

    42 min
  2. Varo Prosperity Podcast: Funneling Capital Into Purpose-Built Brands

    2023-10-17

    Varo Prosperity Podcast: Funneling Capital Into Purpose-Built Brands

    About Roy Swan: Roy leads the Ford Foundation’s Mission Investments team, responsible for the foundation’s $1bn impact investing endowment. Roy also oversees the foundation’s $350 million program related investment fund and grantmaking dedicated to strengthening the global ESG and impact investing fields. He has had key roles at Morgan Stanley, including Co-Head of Global Sustainable Finance, CEO of Morgan Stanley Impact SBIC, and President of Morgan Stanley Trust savings bank. He also served as the founding Chief Investment Officer of the Upper Manhattan Empowerment Zone and Chief Financial Officer of Carver Bank, a Harlem-based publicly traded financial institution and the nation’s largest African American managed bank at the time. Roy graduated from Princeton University and Stanford Law School, where he was an editor of the Stanford Law Review.   About Maya Chorengel: Maya is Co-Managing Partner at The Rise Fund, a $7.7 billion global impact investing fund managed by TPG. Prior, Maya co-founded Elevar Equity, was Managing Director of the Dignity Fund, and invested for Warburg Pincus. Maya is a Director of TPG Inc., Little Leaf Farms, Benevity, Varo Bank, Nithio, SEO, and Kiva and serves on the Advisory Board of the Harvard Business School Social Enterprise Initiative. She co-authored “Calculating the Value of Impact Investing” published in the Harvard Business Review. Maya earned an A.B. in Social Studies from Harvard University and an M.B.A. from Harvard Business School.   In this episode, Colin, Roy, and Maya discussed: - The importance of people and purpose in mission-based investing - Transforming communities through human capital investment - Balancing financial returns and social impact in a polarized environment - The intersection of impact investing, corporate culture, and social change in contemporary business Key Takeaways: - In the world of mission-based investing, the key lies in the authenticity and commitment highlighted by Roy and Maya. Whether it's the broad spectrum approach of the Ford Foundation or the focused commercial capital strategy of TPG's Rise Fund, success hinges on partnering with leaders deeply rooted in private enterprise to drive positive social and environmental impact. - Maya emphasizes the importance of focusing on data, evidence, and results while pursuing investments that deliver both financial returns and positive social or environmental outcomes to help combat the challenges of ESG and impact investing in a politically charged environment. - "Patriotic capitalism" combines profit and purpose to build a better future, fostering engaged employees and addressing social issues while generating substantial returns, all driven by a shared commitment to create a more equitable and sustainable world. "We see human capital as the central element to any community's greatness, any state or any nation in the world." — Roy Swan "We fundamentally believe that there are many tools available to us, but the more people we can convince just to be good people and to do the right thing will help us get to the right place in the world and to create the society and planet that we all want to live in." — Maya Chorengel Connect with Roy Swan:   Website: https://www.fordfoundation.org/ LinkedIn: https://www.linkedin.com/in/roy-swan-7394832/ Connect with Maya Chorengel:   Website: https://www.tpg.com/ LinkedIn: https://www.linkedin.com/in/maya-chorengel-603b76/ Connect with Varo:  Website - https://www.varomoney.com/ Instagram - https://www.instagram.com/varobank/ Twitter - https://twitter.com/varobank YouTube - https://www.youtube.com/varomoney LinkedIn - https://www.linkedin.com/company/varobank/ Audio production by Turnkey Podcast Productions. You're the expert. Your podcast will prove it.

    40 min
  3. Fintech Forward: Pioneering Product Development from Past to Future

    2023-09-19

    Fintech Forward: Pioneering Product Development from Past to Future

    About Shamir Karkal: Shamir Karkal is a visionary fintech leader who has helped to shape the fintech industry. As a Co-founder of Simple, the pioneering online bank in the US, he played a pivotal role in revolutionizing the landscape of digital banking. Building on this success, he assumed leadership of the Open Platform at BBVA, continuing his dedication to empowering small businesses. In 2018, he co-founded Sila, where he currently serves as Chief Strategy Officer, dedicated to driving financial innovation forward. About Wook Chung: Wook Chung is the Chief Product Officer at Varo Bank, the first all-digital, nationally chartered consumer techbank in the United States. As CPO, Wook plays a key role in VaroTech, the company's innovation hub that integrates product, technology, data, and design to create cutting-edge financial solutions aimed at giving consumers living paycheck to paycheck financial power. Wook was previously the VP of Product Design and Engineering at SoFi, and the Head of Product Management Leadership at Facebook.    In this episode, Colin, Shamir, and Wook discuss: - The evolution of fintech and the emergence of the techbank - The challenge balancing innovation and sustainable business models in fintech and banking - The impact of emerging technologies on a vast and regulated industry - Leveraging AI, ML, and fintech to transform financial services Key Takeaways: - By recognizing and addressing the changing financial needs of everyday people with intuitive product solutions, leaders in the fintech industry such as Shamir Karkal and Wook Chung, have transformed the way banking is perceived and experienced, ultimately striving to build customer-centric banks that empower individuals to manage their finances effectively. - In the quest to revolutionize the financial industry, breakthroughs have occurred through combining innovative product solutions with a sustainable business model. Disruptive change without financial viability will inevitably fail. Technology-driven, cost-efficient, customer-centric fintech companies hold the potential to reshape the future of finance. - In the ever-evolving world of fintech, real-time payment systems like FedNow and RTP are poised to transform the industry, but the vastness and complexity of financial services mean that even with rapid technological advancements, true disruption will take time to unfold. - Integrating AI and ML will redefine banks as personalized financial problem solvers, ushering in a future where technology continuously improves individuals' financial well-being.  "What people don't quite realize sometimes is that the financial services industry globally is about a 20 trillion revenue industry out of a global GDP of about 100 trillion a year.....And when you think about it, that makes sense. It also means that it's not really possible to disrupt this industry and change it." — Shamir Karkal  "I think really leveraging technology to help somebody across a long period of time is the only way I think that the industry can build financially inclusive products that truly help people progress in their financial lives." — Wook Chung Connect with Shamir Karkal:   LinkedIn: https://www.linkedin.com/in/shamirkarkal/ Connect with Wook Chung:   LinkedIn: https://www.linkedin.com/in/wookchung/ Connect with Varo:  Website - https://www.varomoney.com/ Instagram - https://www.instagram.com/varobank/ Twitter - https://twitter.com/varobank YouTube - https://www.youtube.com/varomoney LinkedIn - https://www.linkedin.com/company/varobank/ Audio production by Turnkey Podcast Productions. You're the expert. Your podcast will prove it.

    40 min
  4. Mark Carges and Amit Mital: Building Disruptive Consumer Platforms Using Technology and Data

    2023-07-31

    Mark Carges and Amit Mital: Building Disruptive Consumer Platforms Using Technology and Data

    About Mark Carges: Mark Carges is a seasoned executive manager in the world of enterprise and internet software, with an impressive career that spans decades. Having previously worked at industry giants, including as the CTO of eBay, Mark has consistently driven innovation and spearheaded platform strategies. With a track record of success as a Board Director at Splunk, and Veeva Systems, his deep expertise and passion for technology have brought invaluable value to the market. About Amit Mital: Amit Mital is a dynamic expert with an impressive track record in both the public and private sectors. As the Former Special Assistant to the President at the National Security Council, The White House, Former CTO at Symantec, and former CVP at Microsoft, Amit played a vital role in developing technology strategies and driving excellence in product development. With 46 patents and expertise in machine learning, telepresence, and computer vision, Amit is a true force in shaping the future of technology and business. In this episode, Colin, Mark, and Amit discuss: - Driving innovation in challenging economic cycles - Key factors for tech companies' success in modern markets - Strategies for building a disruptive fintech product - Ensuring information security in the changing fintech world Key Takeaways: - The key to successful technology companies lies in combining data science and a customer-centric approach to solve unsolved customer problems better than anyone else. - In the highly competitive world of Fintech, success lies in striking the right balance between innovative technology and regulatory compliance, while leveraging customer data to identify unique differentiators that set your product apart from competitors and ultimately attract loyal customers. - The blending of traditional financial services with breakthrough technologies in the Fintech world presents both cultural challenges and opportunities, while the increasing importance of cybersecurity and remote work demands seamless innovation and balance to ensure a secure and connected future. "In fintech, it's both finance and technology, and the risk profiles that both those types of people bring to a company are very different. When you're in fintech, you're mixing a regulated environment with a tech company that wants to use technology and move quickly." — Mark Carges   "We realized that fintech is indeed a critical part – a critical ingredient of our everyday way of life. In many ways, it is as critical as your power, water, highway systems, and pipelines." — Amit Mital Connect with Mark Carges:   LinkedIn: https://www.linkedin.com/in/markcarges/  Connect with Amit Mital:   LinkedIn: https://www.linkedin.com/in/amitmital/ Connect with Varo:  Website- https://www.varomoney.com/ Instagram- https://www.instagram.com/varobank/ Twitter- https://twitter.com/varobank YouTube- https://www.youtube.com/varomoney LinkedIn- https://www.linkedin.com/company/varobank/ Audio production by Turnkey Podcast Productions. You're the expert. Your podcast will prove it.

    41 min
  5. Jennifer Tescher and Sarah Newcomb: The Financial Industry’s Paycheck to Paycheck Predicament

    2023-06-30

    Jennifer Tescher and Sarah Newcomb: The Financial Industry’s Paycheck to Paycheck Predicament

    About Jennifer Tescher: Jennifer Tescher is a pioneering advocate for financial health, leading the Financial Health Network as its Founder, President, and CEO. Her mission is to improve financial well-being for all by aligning consumer and provider success. Under her guidance, the Financial Health Network has become a trusted authority on financial health, impacting millions of lives through its 160+ member organizations. Jennifer's expertise and thought leadership have gained recognition in national media and esteemed speaking engagements.  About Sarah Newcomb: Sarah Newcomb, Ph.D., is a passionate leader in financial empowerment. As the Founder of THRIVE Financial Empowerment Center, she helps individuals leverage their resources for fulfilling lives. With a background in behavioral economics, Sarah integrates research into practical financial tools. Her expertise in consumer psychology, decision-making, and personal money management makes her a valuable expert. Sarah's own financial journey drives her to empower others through teachings and her book, LOADED.  In this episode, Colin, Jennifer, and Sarah discuss: - The role of financial institutions in addressing the critical issue of people living paycheck to paycheck - Building trust and addressing financial challenges for diverse communities - Enhancing financial behavior through business-driven behavioral science - Advancing personalized financial journeys and improving financial education for all Key Takeaways: - The majority of Americans living paycheck to paycheck is a critical issue, and is driven by multiple factors, including low wages, and a financial system that has not moved everyday Americans into prosperity. - To address financial disparities, we must acknowledge the impact of racial and gender gaps on well-being, offer personalized solutions, and foster trust through transparency, reliability,,  and technology-driven approaches. - Financial institutions must prioritize the intersection of business and human needs, focusing on providing personalized support and education based on individuals' unique financial situations and goals, rather than pushing generalized products or services that may not address their immediate needs. - Technology offers the potential to create custom pathways and improve financial education, but it's crucial to focus on empowering individuals, addressing systemic issues, and building trust to help people manage their resources and achieve financial health.  "What people really need is a mirror. And when they can see it they will generally make good decisions for themselves, but often they just need someone to hold up that mirror and take them out of the moment that they're in. And I think technology holds tremendous promise in helping people to do that." — Jennifer Tescher    "I'm really excited about finding ways to make this vision that I have of a generation of empowered people who know how to use their resources to live lives they love and create a world that they want." — Sarah Newcomb Connect with Jennifer Tescher:  Website: https://finhealthnetwork.org/ Email: jtescher@finhealthnetwork.org LinkedIn: https://www.linkedin.com/in/jennifertescher/ Connect with Sarah Newcomb:  Website: https://www.thrive-financial.net/ Email: Sarah@Thrive-financial.net Book: https://www.amazon.com/Loaded-Psychology-without-Leaving-Values/dp/1119258324 LinkedIn: https://www.linkedin.com/in/sarahcnewcomb/ Twitter: https://twitter.com/finance_therapy Connect with Varo:  Website- https://www.varomoney.com/ Instagram- https://www.instagram.com/varobank/ Twitter- https://twitter.com/varobank YouTube- https://www.youtube.com/varomoney LinkedIn- https://www.linkedin.com/company/varobank/ Audio production by Turnkey Pod

    38 min
  6. Why Financial Inclusion is Too Exclusive

    2023-05-05

    Why Financial Inclusion is Too Exclusive

    About Ida Rademacher: Ida Rademacher is a passionate advocate for financial inclusion and security, serving as Vice President at the Aspen Institute, where she leads the Financial Security Program and the Aspen Partnership for an Inclusive Economy. Her career has been focused on creating innovative teams, initiatives, and events, making her a leading voice in the field of financial health. Ida has contributed to the creation of several cutting-edge initiatives and events that have provided fresh thinking on building economic inclusion and growth. She has received global recognition for her work and has testified before Congress on numerous occasions. She has also contributed to various news and commentary outlets. Recently, Ida co-edited a book titled The Future of Building Wealth: Brief Essays on the Best Ideas to Build Wealth – for Everyone.  A first-generation college graduate, Ida pursued postgraduate studies in economic anthropology at the University of Melbourne, Australia, and holds a Master of Public Policy degree from the University of Maryland and a Bachelor of Science degree in anthropology and economics from James Madison University.  In this episode, Colin and Ida discuss: - Barriers to financial inclusion and its role in promoting equality and wealth creation in the US - Exploring the preconditions necessary for individuals to create wealth and address wealth equity issues - Examining how a government-led plan for financial inclusion can help develop a more inclusive financial system, and the input of tech experts in crafting new regulations and policies - Recent resources and research from the Aspen Institute on financial inclusion Key Takeaways: - The Aspen Institute aims to equip leaders with the knowledge and networks to solve financial challenges, including improving financial inclusion, by understanding and addressing the dimensions and drivers of these issues. - The five key conditions for wealth creation include routinely positive cash flow, the ability to amass an investable sum, access to consumer-friendly financing, information and confidence to navigate the financial world, and innovative ways to protect and maintain wealth; however, many Americans still lack basic financial stability, with 43% of adults making $50,000 or less having no emergency savings, and 42% not owning any stock or equities. - Aspen is pushing for greater access to financial services and rallying a coalition of organizations to urge the US government for a plan, in the hopes that collaboration between tech experts and regulators can improve household financial systems.  - Aspen is working to enhance financial inclusivity and stability, and their upcoming wealth agenda aims to increase household wealth in America by ten times over the next 25 years. "The only way through to an outcome that improves the financial system for households is to have the difficult conversation." — Ida Rademacher   Learn more about Aspen’s programs: Reimagining a U.S. Benefits System That Supports All Workers: Five Key Takeaways from Public and Private Benefit Leaders: https://www.aspeninstitute.org/publications/reimagining-a-u-s-benefits-system-that-supports-all-workers-five-key-takeaways-from-public-and-private-benefit-leaders/ The Case for Early Wealth Building Accounts: https://www.aspeninstitute.org/publications/the-case-for-early-wealth-building/ Crypto Winter: Myth or Reality? A look at individuals who use cryptocurrencies shows many remain invested: https://www.aspeninstitute.org/blog-posts/crypto-winter-myth-or-reality-a-look-at-individuals-who-use-cryptocurrencies-shows-many-remain-invested/ Aspen’s Financial Security Program: https://www.aspeninstitute.org/programs/financial-security-program/ Connect with Ida Rademacher:  Website: https://www.aspeninstitute.org/ LinkedIn: https://www.linkedin.com/in/ida-rademacher-a32a854/ Twitter: https://twitter.com/idarademacher

    40 min

  7. TRAILER

    Welcome to Varo Prosperity

    Financial resilience is a continuous challenge for many because of the broken wealth ladder. Join Varo Bank’s CEO, Colin Walsh, and other influential industry leaders, as they discuss breakthrough initiatives designed to help people live better lives. Explore how reimagined policy, regulation, and technology-first banking solutions are essential to providing financial access and inclusion. Whether you are a financial industry influencer, investor, or regulator, this podcast is for you! www.varomoney.com

    5 min

Trailer

About

Financial resilience is a continuous challenge for many because of the broken wealth ladder. Join Varo Bank’s CEO, Colin Walsh, and other influential industry leaders, as they discuss breakthrough initiatives designed to help people live better lives. Explore how reimagined policy, regulation, and technology-first banking solutions are essential to providing financial access and inclusion. Whether you are a financial industry influencer, investor, or regulator, this podcast is for you!

Information