Press Release: RFI Global announces Australia’s Banking & Finance Awards Winners for 2024

Sydney 13 June 2024 - under embargo 13th June 9:00am AEST

RFI Global announces Australia's Banking & Finance Awards Winners for 2024

RFI Global, the leading market insights provider for the financial services industry, today announced the winners of its sixth annual Banking & Finance Awards. The awards celebrate outstanding financial service providers in four categories: business banking, consumer banking, insurance and financial products.

RFI's Banking & Finance Awards are unlike any other awards programmes, with the winners determined directly by customers. Based on non-biased data collected from Australia's largest independent financial services study, Atlas, the awards identify the leading brands in a range of categories. Based on interviews with more than 80,000 Australian consumers and businesses over a 12-month period, the awards celebrate the most recommended brands, the most innovative and trustworthy organisations, as well as the most competitive, best in class for digital, relationship managers and customer service across banking.

The awards take into account direct customer feedback from the study across metrics such as advocacy, innovation and trustworthiness, which feed into a total of 44 award categories.

See the full list of winners here.

CBA showed a standout performance winning a total of 17 of the 44 awards, plus an additional two for its subsidiary Bankwest. Over the past year CBA's digital banking NPS (advocacy) metrics have been the highest of all the major banks. This includes both mobile and online banking across both the consumer bank and business bank.

This year's awards also celebrate three new entrants:

• After focussing on its home loan and deposits books, Macquarie Bank won in the product space, taking out awards for Most Recommended Home Loan, Most Recommended Owner Occupier Loan and Most Recommended Investor Loan.
• Bank Australia achieved the prestigious award for the Most Trusted Consumer Bank, one of the key factors driving consumer preference in financial services.
• Cover-More took the lead in the best Best Travel Insurance category

Julien Wilson, RFI Global's Chief Customer Officer, Asia Pacific, said, "This year's winners have proven their ability not just to outperform their peers but, more importantly, to meet and often exceed the expectations of their customers. This is especially poignant given that 2023 was a year of significant shifts in customers' attitudes caused by economic pressures, which often directly changes sentiment towards Banking and Financial Services providers. As always, it's a privilege to help our clients make informed, data-driven decisions for the benefit of their overall business."

Ends.

Notes for Editors:

About RFI Global

RFI Global is the leading market insights provider for the financial services industry, empowering business leaders to identify and capitalize on shifting market conditions, buying behaviours and customer attitudes.  

Combining decades of proprietary data, deep industry expertise, and a unique hybrid research methodology tailored to each client, RFI delivers critical whole of market insights, competitive assessments, and strategic opportunities across customer acquisition, retention tactics, pricing and beyond. 

Find out more here. 

About Atlas

Atlas monthly consumer reports provide powerful direction for the financial services industry in Australia. Powered by over 80,000 consumer and business surveys annually, our reports provide an unrivalled depth of data, encompassing more than 750,000 interviews to date.

The reports provide actionable intelligence to drive decision-making and a competitive edge. This empowers organisations to track core metrics in real-time like NPS, share of wallet, and products-per-customer in order to identify growth opportunities, enhance customer relationships, optimise experiences and products. Find out more here.

For more information or to speak with the team, contact: pr@rfi.global

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