Bank Varo plans to accelerate its responsible and customer-centric AI initiatives by appointing Asmau Ahmed as its new Chief Artificial Intelligence Officer.

Varo Bank, the first all-digital nationally chartered bank in the U.S., has made a significant move in its mission to revolutionize banking by appointing Asmau Ahmed as its first Chief Artificial Intelligence and Data Officer (CAIDO).

Asmau Ahmed, a seasoned professional with a rich background in leading teams and delivering products, brings her expertise in data science and AI to the table. Ahmed has previously worked at Google X, Bank of America, Capital One, Deloitte, and most recently, led the Artificial Intelligence and Machine Learning team at Wells Fargo.

In her new role, Ahmed will spearhead company-wide AI and machine-learning efforts at Varo Bank. Gavin Michael, CEO of Varo Bank, expressed his excitement about Ahmed's role in advancing Varo Bank as an AI-first bank and driving innovation to improve the financial lives of everyday Americans.

Varo Bank has been at the forefront of using machine learning for underwriting, fraud prevention, and detection. With Ahmed's appointment, the bank aims to further leverage AI to enhance its services and expand credit access. Varo Bank has already made strides in this direction, as evidenced by the launch of the Varo Line of Credit in 2024. This product uses self-learning models and proprietary algorithms for credit-decisioning processes, providing loans to some customers with reliable Varo banking histories who might have been excluded by traditional credit score systems.

Ahmed, who is also a mentor at All Raise, supporting women and non-binary leaders in establishing companies, securing capital, and enhancing representation among key entrepreneurial decision-makers, is excited to lead the next phase of Varo's mission-driven tech evolution. She aims to ensure AI can improve Varo Bank's customers' experiences and financial lives.

Asmau Ahmed serves on the boards of companies such as the Creative Arts Agency (CAA), Yale Board of Advisers, QuinStreet, Pony AI, and blackcomputeHER. Her previous venture, Plum Perfect, a visual search advertising tech company, is a testament to her entrepreneurial spirit and innovative mindset.

With Ahmed's appointment, Varo Bank continues to demonstrate its commitment to leveraging technology for the betterment of its customers and the banking industry as a whole.

Bank Varo plans to accelerate its responsible and customer-centric AI initiatives by appointing Asmau Ahmed as its new Chief Artificial Intelligence Officer.