Riva Bobrowsky Leads Procurement With People First

Riva Bobrowsky, Varo Bank’s Chief Procurement Officer, leads a function that has redefined how the all-digital bank manages its vendor relationships. Her strategy contrasts with traditional procurement by emphasizing speed, security, and alignment with Varo’s financial inclusion mission over outdated processes.

“My focus is ensuring our vendor ecosystem matches the velocity, security, and innovation of our internal technology,” she states. Unlike many procurement leaders, Bobrowsky operates collaboratively, working closely with Legal, Compliance, Privacy, Technology, and Third-Party Risk teams. This cross-functional approach ensures procurement supports—not just enables—Varo’s broader risk and operational objectives.

When Bobrowsky joined in 2019, procurement relied on manual spreadsheets and ad-hoc workflows. “We were a small fintech startup with entirely manual contract management,” she recalls. This starting point became an opportunity to build a procurement function tailored for a digital-native bank, capable of scaling without losing agility.

The transformation began with digitizing core processes. Varo adopted Contract Lifecycle Management (CLM) through ContractPodAi, later rebranded as Leah. The change went beyond efficiency—it embedded procurement into Varo’s strategic operations. “My goal was to drive a complete digital shift,” Bobrowsky explains. “We moved from spreadsheets to a system that could keep pace with our growth.”

Today, Varo is advancing to the next phase by integrating agentic AI to accelerate contract reviews, enhance vendor insights, and improve data connectivity. The aim is not to replace human oversight but to supplement it, using technology to identify risks and opportunities faster while maintaining financial services rigor.

Procurement as a Strategic Business Driver

Bobrowsky’s career highlights a key truth about procurement: it extends beyond paperwork to understanding the business itself. “Procurement sits at the heart of company strategy,” she states. “To protect the business, negotiate balanced contracts, and anticipate bottlenecks, you must grasp technical and operational details.”

In banking, this challenge intensifies. Financial tools directly affect daily lives, and Varo’s app, used by millions, depends on third-party infrastructure, cloud providers, and fintech partnerships. Procurement functions as the bridge ensuring these partnerships succeed. “Innovative financial tools can’t be developed in isolation,” Bobrowsky notes. “They require complex ecosystems, and procurement ensures alignment with the mission.”

For Varo, partnerships are strategic rather than transactional. Vendors are chosen for reliability and accessibility alongside cost and capability. “We don’t treat vendor management mechanically,” Bobrowsky explains. “We collaborate to ensure they align with our goals and perform at the highest level.”

This approach delivers measurable results. Optimized vendor relationships reduce operational costs, benefiting customers through affordable loans, credit-building tools, and wealth-management products. “Every negotiation aims to make vendors partners in helping customers achieve financial empowerment,” she says. The procurement team’s work directly enhances Varo’s ability to serve users, many of whom lack traditional banking access.

In practice, procurement shapes Varo’s external engagements. When selecting cloud providers, the bank prioritizes advanced technology and strong data privacy, critical for serving underserved communities. Fintech partnerships are evaluated not only on technical fit but on shared values around transparency and fairness.

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Mission-Aligned Vendor Partnerships Over Cost-Cutting

Bobrowsky’s strategic view of procurement, combining technical expertise with customer needs, distinguishes her approach. While many procurement leaders focus on cost-cutting or risk reduction, she positions the role as a driver of Varo’s core purpose: empowering people through financial tools. The result is a function that supports the business while actively advancing its mission.

Varo’s procurement overhaul started with recognizing that traditional banking processes were too slow for a digital-first institution. Legacy models featured lengthy approvals, manual reviews, and siloed teams, systems unable to match Varo’s pace. Bobrowsky’s solution was to create a system mirroring the bank’s own agility.

A central component was ContractPodAi, now Leah, which automates contract generation, tracking, and compliance. The tool integrates with Varo’s tech stack, reducing manual work while maintaining audit trails and risk controls. “We transitioned from spreadsheets to a scalable system,” Bobrowsky states. The change supported Varo’s expansion into accounts, loans, and wealth products.

Even with AI and automation, human oversight remains essential. Varo’s procurement team manually reviews high-risk contracts to enforce security, compliance, and ethical standards. “Technology speeds up processes, but human judgment is essential,” Bobrowsky emphasizes. This balance is particularly vital in banking, where vendor errors can lead to financial losses or regulatory violations.

AI and Human Judgment Reshape Procurement

Varo is now testing agentic AI to further refine procurement. These systems could analyze vendor performance in real time, flag issues early, and suggest optimizations based on market trends. The goal is to free the team for higher-value work, such as negotiating terms that directly benefit customers.

For Bobrowsky, the most meaningful aspect of her role is its impact on Varo’s customers. “We’re not just managing vendors; we’re enabling a bank that prioritizes people,” she says. By ensuring vendors are reliable, innovative, and mission-aligned, procurement amplifies financial inclusion efforts.

The outcome is a procurement function that resembles a tech team more than a back-office operation. Contracts are generated in hours rather than weeks. Vendors are assessed not only on price but on their contribution to Varo’s objectives. Every decision centers on one question: How does this serve our customers?

In an industry often criticized for complexity and bureaucracy, Varo’s model presents an alternative. Procurement is not a cost center but a strategic asset. Under Bobrowsky’s leadership, it is helping redefine banking itself.

Varo’s customer base now exceeds 930,000 accounts, with many users relying on the bank’s tools to build credit and access financial services for the first time. The procurement team’s work ensures these users receive reliable, affordable products by maintaining strong vendor relationships and rigorous standards.