Case Study: Varo Bank achieves seamless migration for millions and 60% greater user engagement with Plaid

Varo Bank powered a seamless migration for millions of customers while increasing user engagement by 60% with Plaid

Varo Bank, the consumer neobank that secured a national bank charter, needed to migrate millions of customers to Varo Bank without forcing them to re-link external accounts and risk losing customers. To solve this, Varo partnered with Plaid, leveraging Plaid Exchange and Plaid’s data connectivity and custom account‑linking flows to keep the migration frictionless.

Plaid implemented rewritten linking flows and industry‑leading Data Connectivity (Auth, Identity, Transactions, Plaid Exchange), enabling seamless account transfers and open‑finance connections. As a result, Varo customers have made 6.4M+ external app connections, account linking via Plaid drove a 60% lift in engagement (e.g., card activations) and Varo saw a more than 50% decrease in fraudulent returns—outcomes achieved with Plaid’s technology.

Varo

Anton Chakhmatov

Director of Product Management