As ACCC Report flags digital platform risks – these are the Banking Apps getting it right

Today, leading financial comparison site Mozo is proud to announce the winners of the Mozo Experts Choice Awards for Banking Apps 2025, recognising the mobile banking apps pushing the envelope on innovation, user experience and easy money management, while also providing a safe and secure banking experience.

This year, Westpac has once again secured the top spot, named Australia’s Best Banking App for 2025 following a rigorous review of 49 mobile banking apps across the country.

“Mobile apps are now the frontline of banking in Australia, and the best providers are those that empower customers with visibility, security and control, all from the palm of their hand,” says AJ Duncanson, Data Director and Mozo Experts Choice Awards Judge.

“Westpac stood out again in 2025 for its feature-rich app that balances smart functionality with simple, intuitive design. From budgeting tools to security controls, it continues to set a high bar for mobile banking in Australia.”

What makes a banking app ‘best in class’?

To determine the winners, Mozo’s expert judges assessed 49 mobile banking apps, shortlisting only those that met strict criteria and offered standard features including Apple Pay, Google Pay, PayID, PayTo, biometric login, card control, real-time support and spend categorisation.

“The Mozo Experts Choice Awards for Banking Apps are an annual benchmark for mobile banking excellence,” said Duncanson.

“The best apps go beyond basic banking to provide a personalised financial hub, offering the best functionality, innovation, and usability for everyday Australians to make mobile-first money management a breeze.”

Each of the 49 banking apps were evaluated on a weighted scoring system across key areas such as:

• Transaction visibility, history and advanced filtering
• Smart notifications (including bills, paydays and low balances)
• Security controls (lock card, limit spend, flag abuse, block gambling)
• Goal setting, expense tracking, and smart categorisation
• Integration with digital wallets and wearable tech
• The ability to open accounts or chat to support directly in-app

“Mozo’s rigorous analysis ensures that only the most advanced banking apps from reputable banks receive recognition, and this year’s winners have demonstrated outstanding capabilities in enhancing user experience and functionality,” continued Duncanson.

Why Banking App Standards Matter More Than Ever

The announcement of this year’s winners comes just days after the ACCC’s final report on the Digital Platform Services Inquiry, which called for stronger protections against unfair digital practices to protect consumers from scams, harmful app design, and a lack of redress when things go wrong.

The ACCC’s five-year inquiry found that almost three quarters (72%) of Australians surveyed had encountered potentially unfair tactics when using digital platforms — such as hidden fees or accidental subscriptions.

“With more Australians relying on mobile apps to manage their finances, it’s never been more important to highlight which providers are offering safe, transparent and customer-centric tools,” Duncanson explained.

Mozo’s award criteria reflect some of the ACCC’s concerns, particularly those outlined in ACCC’s second recommendation that calls for digital platforms to implement mandatory processes to prevent scams. 

Mozo judges specifically evaluated apps for transparency of transaction data, functionality warnings for insecure  Wi-Fi network connections, ease of navigation, security controls and biometric login, as well as access to secure discussions and real time chat with customer service team members.

The Best Banking Apps In Australia

Australia's Best Banking App: Westpac

Westpac took out the top award in 2025 for delivering the best digital banking experience, with Mozo judges highlighting the app’s smart design, comprehensive financial insights, and deep functionality across security and spend management. 

“The app covers most of the bases you'd look for such as notifications, card management functions and smart merchant identification, but also some less common features such as the ability to re-categorise your transactions," said Duncanson.

"Westpac's app excelled in offering the richest set of features, providing users with superior visibility and control over their banking needs, offering a powerful blend of functionality and innovation."

Highly Commended Apps: 

Westpac took out the top spot, but four other digital banking apps came a close second with user focused platforms that stood well above the rest in regard to functionality, features and security. 

• ANZ Plus
• Commonwealth Bank
• Macquarie
• Up

“The Highly Commended banking app winners were strong across the board, offering all the essential features and many of the extras, but just fell short of the top spot,” said Duncanson. “They still stand out for delivering great overall value and functionality in the Australian mobile banking app space.”

-ENDS-

Mozo Experts Choice Awards

The Mozo Experts Choice Awards were established in 2014 to help Australian consumers find the best value offers across a range of products and services. For the Best Banking App Awards, Mozo’s experts analysed 49 mobile banking apps, based on data collected between April and May 2025. 

Mozo aims to include most banking app providers in the market in the Mozo Experts Choice Awards, and awards are given irrespective of a commercial relationship with Mozo. For the Banking App awards, smaller regional banks and credit unions that did not hold at least 1.6billion in household deposits, according to APRA as of March 2025, were excluded from analysis.