Back to back wins for Australia’s bank of the year


Feature

Suncorp has been named Money magazine’s Bank of the Year and Business Bank of the Year for the second consecutive year. 

Suncorp Banking and Wealth CEO David Carter said the award recognised the bank’s investment in new digital capabilities, sharp focus on listening to customer feedback and ongoing commitment to ensuring all customers have access to competitive rates and flexible, rewarding products. 

“Every decision we make, from a process or pricing change to introducing a new product, centres around how we can make life easier for our customers. While this recognition shows we’re on the right track, we remain committed to continuously improving how we can support our customers’ needs,” Mr Carter said.

This year we’ve sharpened our focus on doing things differently – our new digital and self-serve solutions and partnerships have shifted the dial in how we deliver a new level of convenience.

David Carter, Suncorp CEO Banking & Wealth

Over the past 12 months, Suncorp has introduced eftpos Pay for Apple Digital Wallets, real-time payments through the integration of the New Payments Platform and new features in the award-winning Suncorp App – which will soon become a one-stop-shop for customers to manage all their banking, insurance and finance needs.

On winning Business Bank of the Year, Mr Carter said Suncorp recognised small businesses as the backbone of the Australian economy.

“Our priority is helping this important sector to grow and thrive. We offer unique solutions including ‘wave and save’ to help merchant customers save money on their transaction costs, and earlier this year we pledged $3billion of new credit for small businesses.”

Money magazine Editor-in-chief Michelle Baltazar congratulated Suncorp for the win, recognising the consecutive achievements as a testament to the bank’s commitment and dedication to its customers. 

“Suncorp received the highest aggregate score across multiple product lines and services, including home loans, investment loans, credit cards, business banking, investment lending and mobile banking, making it an excellent all-rounder. They also gained top marks in customer satisfaction, which shows that to win this award, they had to deliver great products and great service.”

“Money also commends the work that Suncorp is doing to help its vulnerable customers - those who are going through financial stress or hardship due to natural disasters, such as the drought in Queensland. It’s imperative that we have a banking industry that is competitive, by global standards, yet compassionate towards rural and regional communities. Suncorp deserved winning this award as it has delivered on both counts.”

This is the third time Suncorp has been awarded Bank of the Year, having been the first non-major in 2015 to receive the accolade. It was also previously named Business Bank of the Year in 2016.