Varo, America’s first all-digital bank, today revealed a new brand identity and a groundbreaking new campaign – “A bank for all of us” – as part of its first multi-million dollar, integrated brand launch across TV, radio and out of home in the US. The first TV spots will air on February 7, 2021, during the Super Bowl, in select markets.
Varo’s new brand campaign is anchored in the company’s purpose and ambition: financial opportunity and inclusion for all. The launch phase of the “A bank for all of us” campaign reimagines money and puts modern American consumers at the very core. The campaign highlights the diversity inherent in our communities and features a range of American faces – front and center – on a reimagined $20 bill. The campaign signals Varo’s support for a renewed push to put Harriet Tubman on the face of the $20.
“Varo believes that when people have a healthier relationship with their money, it leads to a healthier relationship with themselves, and with all those closest to them,” said Halle Hutchison, Chief Brand Officer at Varo. “The Varo experience starts with inclusion – and our new campaign seeks to showcase people and communities that are often underrepresented in financial services.”
Varo Bank is designed for the millions of Americans left behind by traditional banks, combining the affordability and accessibility of a fintech app with the strength and breadth of services of a bank. Varo challenges long-held norms in the banking industry by removing barriers to entry, including offering bank accounts with no credit check, no monthly fees and no minimum balance fees. Varo doesn’t charge punitive fees, like overdraft fees, and instead offers free and low cost cash advances to qualifying direct deposit customers, to help their money work harder for them.
“We are thrilled to be launching our brand at a time of renewed hope and commitment to chart a new course for our country,” said Colin Walsh, Founder and CEO of Varo. “Varo is unique among national banks and fintechs combined – we are inclusive, accessible, and designed around the way our customers live. We are determined to work with our customers and our communities to deliver on our promise of ‘A bank for all of us.'”
Hutchison continued, “Central to the ‘A bank for all of us’ campaign are visual and verbal provocations of long-held financial conventions. By questioning the status quo, and asking questions that are hyper-relevant in our culture – right now – the campaign lifts the American consumer into a position of power.”
The ongoing impact of the pandemic has made Varo’s mission even more relevant. The most financially vulnerable, and people of color specifically, are enduring the brunt of the most negative impacts. An internal study of Varo’s customer base shows that 77% of customers have dipped into their emergency savings in the past five months to cover a surprise expense or to manage through the ongoing fallout from COVID crisis.
As the campaign evolves, Varo will be honored to highlight its own customers and their personal stories as a way of raising visibility and building awareness of the vast majority of Americans that have been left behind or underserved by the traditional banking industry.
The campaign was created in partnership with advertising agency ServicePlanNY, media agency Mindstream Media Group and production company Scholar, and features images from renowned photographer Stefan Ruiz.