Borrowing Power 2023

Helping people understand how to access credit at Varo.

Varo Borrowing Power interface showing $250 borrowing power with options for Advance and Line of Credit

Role

I was the lead designer for this project in Q3 2023-Q4 2023. I was responsible for Product Thinking, UX Design, and Visual Design.

Team

1 Product Designer
1 Content Designer
1 Head of Product
2 Product Managers
8 Engineers
2 Compliance Officers

Timeline

6 months

Varo Borrowing Power interface details

Problem

We prioritized business needs over customer experience.

  • We used confusing design patterns
  • We combined qualification criteria for two different products
  • We included factors that don’t impact credit limit
Varo app interface showing borrowing confusion

Goals

Make it easy for customers to understand how they can increase their credit limit.

Metrics

  • Customer satisfaction
  • Reduce customer contacts
  • Increase direct deposits per user
Varo Borrowing Power metrics visualization

Solution

We prioritized customer experience by showing only relevant information.

  • We removed confusing design patterns
  • We separated qualification criteria for two different lending products
  • We removed factors that don’t impact credit limit
Varo Borrowing Power solution interface showing unified borrowing view

Early explorations

Varo app interface before Borrowing Power showing scattered borrowing options

Before

Varo app interface after Borrowing Power showing unified borrowing view

After

Varo app interface after Borrowing Power showing unified borrowing view

Results

We increased customer satisfaction and reduced customer contacts.

  • People could easily understand their current credit limit and max credit limit
  • We reduced the amount of people contacting support with questions about their credit limit
  • Direct deposits per user +12%
Varo Borrowing Power results showing improved customer experience