Varo Bank names Wook Chung as CPO
April 9th, 2023
Varo Bank, a leading digital bank, has recently announced the appointment of Wook Chung as its new Chief Product Officer (CPO). Chung will be responsible for driving the development and enhancement of the bank's products and services to meet the evolving needs of its customers.
Chung brings with him extensive experience in product development and management, having worked in senior leadership roles at some of the world's most renowned financial institutions. Prior to joining Varo Bank, Chung was the Head of Product Management at Ally Bank, where he oversaw the development of the bank's online banking and investment platforms. Before that, he served as the Head of Product Development at JPMorgan Chase, where he led the development of the bank's mobile and digital banking offerings.
At Varo Bank, Chung will lead a team of product managers, designers, and engineers to develop innovative products and services that deliver value to the bank's customers. He will also work closely with the bank's technology and operations teams to ensure the seamless integration of products and services into the bank's existing systems and processes.
Varo Bank has been at the forefront of the digital banking revolution, offering a range of products and services that are designed to meet the needs of a new generation of consumers. The bank's mobile app offers a range of features that make banking more convenient, including mobile check deposits, bill pay, and peer-to-peer payments. The bank also offers a high-yield savings account, a personal loan product, and a credit card that rewards customers for responsible spending.
Chung's appointment comes at a time when digital banks are becoming increasingly popular, as more consumers turn to digital banking for its convenience and ease of use. With his extensive experience in product development and management, Chung is well-positioned to help Varo Bank maintain its position as a leading digital bank and continue to innovate in the years to come.
In a statement announcing Chung's appointment, Colin Walsh, CEO and founder of Varo Bank, said, "Wook is a proven leader in product development and management, with a track record of driving innovation and delivering value to customers. We are thrilled to have him join our team and look forward to the contributions he will make as we continue to grow and expand our product offerings."
Chung's appointment also highlights the importance of product development in the digital banking industry. As more consumers turn to digital banking, there is an increasing need for banks to offer innovative products and services that meet the unique needs of these customers. By hiring experienced product development professionals like Chung, digital banks like Varo Bank can stay ahead of the curve and continue to offer products and services that set them apart from traditional banks.
Overall, Chung's appointment as CPO of Varo Bank is a significant development for the digital banking industry. With his extensive experience in product development and management, Chung is well-positioned to help Varo Bank continue to innovate and offer products and services that meet the needs of a new generation of consumers. His appointment also underscores the importance of product development in the digital banking industry and highlights the need for banks to invest in experienced professionals who can drive innovation and deliver value to customers.