Varo Bank, the first all-digital nationally chartered bank in the U.S., today announced the hiring of Asmau Ahmed as the company’s first Chief Artificial Intelligence and Data Officer (CAIDO). Reporting directly to CEO Gavin Michael, she will lead company-wide AI and machine-learning efforts. Varo has dramatically expanded credit access by using data and advanced machine learning-driven decisioning to responsibly extend loans to more customers, reinforcing the bank’s mission of advancing financial inclusion with technology.
Asmau has led teams and delivered products over the past 20-plus years, most recently sitting on the leadership team at Google X, where she led the development of new technologies. At Google, she led Consumer Trust Product Management across Search, Maps, Gemini, Shopping and Commerce, and Ads. Prior to that, she led technology, portfolio, and customer-facing product teams at Bank of America as SVP, at Capital One as Enterprise Product Leader, and co-led the Digital Innovation team at Deloitte, in addition to founding a visual search advertising tech company, Plum Perfect.
“As a nationally-chartered bank, Varo is able to use data and AI in an innovative way that stands out across the finance industry,” Asmau Ahmed said. “Today we are applying machine learning for underwriting, as well as fraud prevention and detection. I am thrilled to lead the next phase of Varo’s mission-driven tech evolution and ensure AI can improve our customers’ experiences and financial lives.”
Asmau has served on the boards of an eclectic group of companies, including the Creative Arts Agency (CAA), the Yale Board of Advisers, QuinStreet, Pony AI, and blackcomputeHER. She serves as a mentor at All Raise, supporting women and non-binary leaders in their efforts to establish companies, secure capital, and enhance representation among key entrepreneurial decision-makers.
Varo Bank uses AI and data science to enhance many core functions of the company’s tech stack. The Varo Line of Credit launched in 2024 and uses self-learning models to improve its credit-decisioning processes based on proprietary algorithms, allowing some customers with reliable Varo banking histories access to loans that traditional credit score systems would have excluded. Ahmed’s expertise will help guide the company’s future of institution-wide advancements in AI.
Varo Bank CEO Gavin Michael added: “Asmau is an industry leader in data science and AI, and I’m excited that she’ll continue advancing Varo Bank as an AI-first bank and drive innovation to improve the financial lives of everyday Americans.”
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