Brand analysis
It’s been a tough few quarters for Varo in the Customer Effort Index. The brand remains at the bottom of the Financial Services in the US table, a place it has held since it fell behind Current in Q2 2024.
But there are reasons for cautious optimism – Varo is closing the gap. It added a huge +4 points to its Overall Effort Score this wave, now at 52, just behind Current at 53.
The brand saw growth across all four pillars within the Customer Effort Index. Most notably, ‘Valuing the Customer’ is up +6 vs its score last wave, a great result for the brand.
Meanwhile, Style of Communication’ and ‘Knowledge and Expertise’ increased by +4 to 56 while ‘Speed of Resolving Problems’ went up +3 to 48.
Last year the Better Business Bureau graded Varo A- due to the fact more than 2,300 complaints were filed against the business. We believe that focusing on Customer Effort would go some way to reducing that figure.
