Australia's favourite banks recognised at 2024 Consumer Finance Awards event


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Money officially launched the 2024 Consumer Finance Awards at an event at the historic Shell House in Sydney on July 3.

The rain may have been lashing down outside, but it was all smiles inside as Money readers, staff and representatives from the winning institutions came together to celebrate and witness the awards being presented on stage.

And given that the winners in attendance were being recognised as among the leading consumer finance providers in the country by Money's very own subscribers, it's hardly a surprise that there was a jubilant atmosphere throughout the evening.

Macquarie Bank was named Money magazine's Bank of the Year at the 2024 Consumer Finance Awards.
Macquarie Bank was named Money magazine's Bank of the Year at the 2024 Consumer Finance Awards.

"The event was a simple but important affair. We came together to celebrate the banks and insurers that have not only been recognised through rigorous research but, more importantly, have won the hearts of our readers," says Money's editor-in-chief, Michelle Baltazar.

Among the evening's highlights, a delegation from Macquarie Bank accepted the 2024 Bank of the Year award - the second consecutive year Macquarie Bank has taken out the major prize - while Bank Australia accepted the 2024 award for Customer-Owned Institution of the Year.

While recognition is an important part of the Consumer Finance Awards, Money's managing editor, Vanessa Walker, notes that they also act as a motivator for other institutions in the space to up their game.

"These awards aid people not just because the identify the best in the industry, but because the banks compete for these accolades by producing better products, more responsive customer service, embracing innovation and offering more finely tuned accounts.

"They act as real-life testimonials from money savvy readers to others looking for the best products and customer experience.

"The award winners will now display the 2024 Money Consumer Finance Awards logos on billboards and websites to alert everyone that these are businesses that take care of our hard-earned money."

For a complete run through of all 20 award categories and profiles of the winners be sure to pick up a copy of the July edition of Money magazine. Or learn more about how we chose the winners of the 2024 Consumer Finance Awards.

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Tom Watson is a senior journalist at Money magazine, and one of the hosts of the Friends With Money podcast. He's previously worked as a journalist covering everything from property and consumer banking to financial technology. Tom has a Bachelor of Communication (Journalism) from the University of Technology, Sydney.