Westpac comes out on top in Money awards

Westpac has come away from this year’s Money magazine awards clutching the coveted Bank of the Year gong.

The awards, now in their fifth year, celebrate excellence among banks, building societies and credit unions and the results are compiled after careful analysis of 19,000 financial products, covering everything from low-rate credit cards and home loans to high-interest savings accounts and term deposits.

Speaking to the magazine after the awards, Westpac chief executive Gail Kelly said that the bank has tried to focus on putting customers first.

"This requires a positive approach: listening, thanking, going the extra mile, responding, apologising where necessary – all the little things that make a difference," she said.

Westpac has also recently given Aussies a sneak peak of its new website, which has been designed to make life easier for people looking to transfer funds and pay bills online and is based on suggestions from its customers.

Another big winner on the night was IMB, which took home the award for Building Society of the Year.

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