Suncorp has been named Money magazine’s Bank of the Year and Business Bank of the Year.
Suncorp Banking & Wealth CEO David Carter said the company was recognised for its highly competitive interest rates, digital capabilities and new products and solutions.
“While we value this recognition, our commitment remains to listening to our customers and continuously improving their experience with us,” Mr Carter said.
“Customer feedback led us to prioritise their digital experience and in response we have delivered new features, services and products, while also giving them more control over their money.
“Suncorp customers now have access to a digital wallet of their choice following the introduction of Google Pay and Apple Pay for Suncorp Visa Debit cardholders, and Samsung Pay for Suncorp Clear Options Credit cardholders.
“We have upgraded our banking app allowing customers to better manage their security, and we’re also helping to fast track savings with our new Growth Saver account.
“Customers can now reset their passwords via internet banking, ATM fees have been removed, our ATM network has been expanded through our partnership with rediATM, we have significantly reduced dishonour fees and enabled customers to open new accounts online.”
Money magazine Editor, Effie Zahos said this is only the third time in the award’s 14-year history that it has been bestowed on a bank outside the big four – and two of these times it has been Suncorp.
“To be Money’s Bank of the Year you need to be able to demonstrate that you offer value for money products across both deposits and lending – great pricing without compromising features,” Ms Zahos said.
“Our research partner notes that in addition to be pushing competition through sharp interest rates, our Bank of the Year winner is making banking easier for Australian’s through increased functionality either within products or online services.”
Suncorp was the first non-major bank to win Bank of the Year in 2015, and was previously named Business Bank of the Year in 2016.
Each year, Money magazine partners with Canstar to evaluate more than 15,000 financial products and services from over 140 financial institutions for the Money magazine Consumer Finance Awards. The Bank of the Year Award is awarded to the financial institution deemed to be best in their field.