Banking Tech Awards 2019

Congratulations to the 2019 winners of Mozo Experts Choice Awards for Best Banking Technology. If you need innovation, sophistication and functionality when it comes to your everyday banking, look no further than the winners below.

Experts choice awards hero 2019

What are the Mozo Expert Choice Awards?

Now in their sixth year, the Mozo Experts Choice Awards are here to showcase the banking technology products that our experts have determined to offer the best value to Australians.

For the 2019 Banking Tech awards, our experts compared a range of banking technology, including banking and money management apps, pocket money apps for kids, internet banking, wearables and savings innovation tools. For more details on how we determined the award winners see our methodology report.

Excellent Banking App

Australians are increasingly turning to their mobile devices to conduct their day-to-day banking, and the functionality of these experiences can often be a customer’s main interaction with their banking provider. Our experts examined the richness of functionality offered by banking apps in 2019, including the availability of payment options like PayID, Apple and Google, login security, quick balance view, notifications, setup of new payees and scheduling of payments, card blocking and limits, overseas travel settings, international payments and more. Here are the mobile banking experiences that stood out from the pack.

Bank Australia logo
Bank Australia
Bendigo Bank logo
Bendigo Bank
Beyond Bank logo
Beyond Bank
Commonwealth Bank logo
Commonwealth Bank
Credit Union SA logo
Credit Union SA
Defence Bank logo
Defence Bank
People's Choice Credit Union logo
People's Choice Credit Union

Internet Banking

For the Internet Banking category, Mozo’s experts examined providers who were awarded in the Exceptional Everyday Banking category and compared them on a feature-by-feature basis. Macquarie Bank’s internet banking suite emerged the clear winner with a host of useful features including spend categorisation, cash flow visualisations, share trading tools and alerts, the ability to attach files to transaction histories and useful search functions.

Macquarie logo
Macquarie

Savings Innovation

In recent years we’ve seen several providers look for ways to encourage people to adopt a savings habit, including savings tools and ‘round up’ features. This year’s most innovative move came from ING, who linked with IFTTT (If This Then That) to make saving fun, something the Mozo experts were keen to recognise. The feature lets you set up automatic payments to your savings account based on a range of events that you define - your location, your Instagram posts, your Strava goals or even the weather.

Pocket Money Mobile App

This award recognises banking apps aimed at parents who want their children to establish good money management skills. Commbank’s offering was judged to be the best at helping kids develop a savings habit by connecting chores and pocket money, while showing real-time account information - for free. The app is available for kids who have a Youth Saver Account or Smart Access Account for Youth and parents with a CommBank account can also take advantage of parental controls.

Commonwealth Bank logo
Commonwealth Bank

Payment Wearables

Our experts searched high and low for the best offering in the payment wearables space, and this year the award goes to Westpac PayWear. Of those we examined Westpac offered the greatest range of options, at a reasonable price point. With a line designed by Hayden Cox, these wearables are stylish and subtle, including simple straps, a button with a variety of tops that can be attached discreetly to almost any item of clothing, a patch to be sewn inside garments or a bag, or even a retro themed safety pin. The range and versatility of options is simply unbeatable!

FAQs:

What was the judging criteria for these awards?

The Mozo Experts Choice Awards recognise products that deliver exceptional value or benefits to Australian consumers. Our experts base their decision on hard-nosed calculations of value to the consumer, using Mozo’s extensive product database and research capacity. Providers don’t pay to be in the running and we don’t play favourites.

Our award methodology report is available for you to read which includes criteria for each award category and lists all providers considered for awards.

How many products were reviewed by Mozo’s experts for the Awards?

For the 2019 deposits awards, Mozo compared 455 personal banking products, including 161 savings accounts, 107 bank accounts and 62 term deposits, plus 137 business banking products and 88 SMSF products.

To better help Australians narrow down their choice there are several Mozo Experts Choice Awards Categories. Our full methodology report lists out the criteria for each awards category and provides a list of all providers compared for awards consideration.

Who are Mozo’s experts?

Mozo has been researching and comparing financial products since 2008, and thousands of Australians use our comparison services each month. Our research team is headed by our Data Services Director and our Product Data Manager who have over 50 years of financial services experience and 22 years in online financial comparison.

I work for a financial provider, how can I promote our win?

Congratulations! Please get in touch with us to discuss the many ways you can promote your Mozo Experts Choice win by emailing or phoning our advertising sales team on 02 9037 4368.