Varo Bank now sits at the bottom of the US Financial Services rankings after a -5 decline in its Overall Effort Score, which is now at 50.
This wave's results make for tough reading for Varo Bank, as all four of its pillars saw significant dips, specifically Speed of Resolving the Problem, which dropped -7 points.
The Knowledge and Expertise pillar score dropped -4 points from 53 to 49 this quarter, after a 4% drop in customers who rated ‘excellent’ for how well its customer service agents understood their particular problem or question.
These results could be a result of March’s data breach, which saw the bank accused of failing to protect the personal information of thousands of customers whose details were exposed.
There is a positive for this pillar, though. It saw a 1% increase in the amount of customers rating its customer service agents expertise as ‘good’.