Varo Bank’s Chief Technology Officer, Rathi Murthy, is focusing on responsible artificial intelligence and modular technology architecture to improve the digital bank’s operations and customer experience. Since joining the bank, Murthy has made two key hires: first, FS Nooruddin as Chief Architect, and secondly, Payal Carpenter as Engineering Strategy and Operations Executive to support secure and scalable technology growth. “Technology has to have a purpose,” Murthy said in an interview, adding that her goal is to ensure innovations bring real value to customers. Murthy emphasizes a disciplined approach to AI integration, stating, “We are continuing to lean in on building out the products that we have, and continue to drive those products in an exceptionally well manner.”
Varo uses AI in underwriting, fraud detection, and customer personalization, guided by a charter it received from the OCC in 2020. Murthy aims to build on this with internal tools like the Supernova decision-making platform and external collaborations such as its partnership with Visa. “Data and AI is our secret sauce,” she emphasized, highlighting the bank’s intent to balance growth with built-in security and compliance protocols. She also established an “architecture guild” to ensure a thorough review of new tools. “We just need to keep feeding the engine and maturing the engine as we go,” she said.
