overdraft protection of up to $100. Therefore, Varo will need to introduce more value-add features to further separate it from the pack and draw in customers.
The WorldRemit partnership is one such differentiating feature that can help Varo broaden its customer base — in this case, to reach immigrants. Many neobanks appeal to the underbanked population, particularly because they often utilize alternative data sources that make financial services more accessible, while most legacy banks rely on traditional credit scores.
Many immigrants to the US fall into this underbanked category, as it can be difficult to build up credit scores. Offering access to fee-free remittance — something geared directly toward immigrants — could thus help Varo gain even more traction among a group that may already be receptive to its banking services. And given that immigrants in the US earn over $1.
Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:
Sverige Senaste nytt, Sverige Rubriker
Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.
TikTok is providing parental controls - Business Insider - Business InsiderTikTok rolled out a parental control feature dubbed 'Family Safety Mode' in the UK, and is set to expand it to other regions in the coming month. Is there a 'CCP Block Mode' too? 🤔
Källa: BusinessInsider - 🏆 729. / 51 Läs mer »
Dispensed Business Insider weekly healthcare newsletter February 21 - Business InsiderDispensed: Big Pharma's plans to compete with buzzy startups, Sanofi's entrance to the coronavirus vaccine race, and a Medicare Advantage pitch deck
Källa: BusinessInsider - 🏆 729. / 51 Läs mer »
Fiserv, PayCore, Samsung, and Visa have partnered on a mobile point-of-sale solution - Business InsiderFiserv, PayCore, Samsung, and Visa's new mPOS tool could improve business — but they'll need to make it as easy to use as possible to fend off potential competition
Källa: BusinessInsider - 🏆 729. / 51 Läs mer »
Netflix insiders describe postmortem emails that detail firings - Business InsiderNetflix insiders describe the internal 'postmortem' emails that break down why employees were fired — and what it's like to write one
Källa: BusinessInsider - 🏆 729. / 51 Läs mer »
Seeking nominations for the most important insiders shaping the future of TV advertising - Business InsiderWe're looking for a variety of big names and people working behind the scenes who are shaping everything from over-the-top TV to new ad formats.
Källa: BusinessInsider - 🏆 729. / 51 Läs mer »
How Gwen Jimmere launched her hair care business with just $32 - Business InsiderThe Style Series: Gwen Jimmere is the first African American woman to hold a patent for a natural hair care product. Here's how she launched her business with just $32.
Källa: BusinessInsider - 🏆 729. / 51 Läs mer »