Varo Money Inc.
Varo Money Inc.
PI-360 Product Monitor Profile
Challenger banks, like Varo, aim to provide enhanced access to banking services for underserved and underrepresented communities. In the process,
these institutions are developing some of the best benefits and digital experiences that are designed to stand out against the larger incumbents in the financial services industry. Varo Money, and the full suite of its products, is actively monitored by PI-360 with consumers providing structured product reviews on the overall value proposition as well as every product feature actively promoted by Varo.
| Defining / Distinguishing Features |
|---|
| First neobank to get a banking license |
| No fees or minimum balance requirement |
| Secured Visa card to start building credit |
| High yield savings with automatic savings tools |
| Receive paycheck up to 2 days early with direct deposit |
| Rich cashback with in-app purchases from major brands |
What we are sharing here just scratches the surface of the data and analytics that we have on this portfolio, and the entire market. If you would like to see what drives acquisition, satisfaction, and usage for any product in market (with insights for 70+ consumer segments), please do not hesitate to reach out.
Competitive Set
When analyzing the opportunity for disruptive new offers pioneered by challenger banks, like Varo, consider product strategies employed by some of the other Financial Apps, Digital Banks, and emerging offers from some of the most established financial institutions. Access 4M+ consumer evaluations of every competitive product strategy to uncover what works well with this product and what is missing to drive engagement with key target audiences.
PI-360 is the only real-time innovation intelligence platform for the entire Payments market. Our data combines the deepest competitive insights on every core and fintech product with 4,000,000+ consumer evaluations of every payment feature and innovation in the U.S. market.
PI-360 interactive platform delivers these insights on-demand and in time for your next meeting.
Contact Us
About The Futurist Group
The Futurist Group helps identify what’s next in payments, using modern technology, frictionless consumer engagement, and intelligent analytics to provide answers to the most important and forward-looking questions about the future of payments. Dedicated to the financial services space, The Futurist Group was founded by an experienced team of professionals from consumer intelligence, fintech, banking, analytics, and payments.
About PI-360
A proprietary Product Innovation Intelligence Platform that maps and analyzes the entire competitive landscape through the lens of ongoing and structured consumer reviews. Imagine knowing everything that you need to know about your competitors' products, emerging innovation, and consumer needs without waiting for research.
