Varo Money announced on Tuesday that it was granted preliminary approval by the Office of the Comptroller of the Currency (OCC) for its application to form a de novo (new) national bank, paving the way for the company to become the first all-mobile bank in the U.S. Varo Money has no physical branches. All of its banking functions, including opening checking and savings accounts, and obtaining loans, are conducted on mobile devices.
Read more
Source : Debanked