FinTech news in Varo Bank category

We don’t know how long this economic situation is going to carry on, and so I think it’s going to really start to weed out the business models that are really sustainable through different economic cycles and those that are going to struggle. So we repositioned the business to continue to invest and build products that customers are going to love and are going to fulfill the mission but scaled back a little bit on other areas of expense. I think what’s going to be really interesting, over these next few quarters, is to see how the kind of tough decisions we made early on to become a bank will really make a lot of sense. There’s a lot of oversight in being a real bank, not just a tech company partnering with a bank, and the flip side of that is it allows us to control our own regulatory destiny.