Consumer Finance Awards 2025: Bank of the Year - Product
Ubank has been named Money's Bank of the Year - Product as part of the 2025 Consumer Finance Awards.
- Find out how we chose the winners
- Order your copy of the July awards issue
- Check out more from the 2025 Consumer Finance Awards
As the world of money becomes more complex, being able to tap into the right suite of banking products can eliminate a lot of hard work from the money-management challenge. That's where Ubank is setting a hot pace.
Having won this award for two consecutive years, Ubank - the digital arm of NAB, is clearly doing something right. Let's break it down.
Ubank customers can tap into three main accounts that each address the key areas of household financial activity. The Spend account provides clear visibility about how much you can spend. The Bills account provides a dedicated space to set aside money for regular household bills. Making up the trio, Ubank's Save account pays a healthy return to help dedicated savers get ahead.
The Spend, Save and Bills accounts have no fees and are backed by a feature-packed app.
Andrew Morrison, Ubank's chief customer and digital officer, puts Ubank's continued success in Money's Consumer Finance Awards down to "a focus on leveraging new technology to deliver great-value, fast and simple digital experiences to our customer".
"These innovations are built based on the preferences of our core demographic - many of whom are 18-35 years old, and we understand their needs deeply by talking to them directly and maintaining close relationships with them."
"Over the past two years, we've introduced several key products that our customers love," says Morrison. "These include intelligent money-management tools that provide data visualisation and real-time actionable insights to help customers make smarter decisions and build stronger financial futures."
Features such as Pay Cycle, for instance, help customers manage cashflow by showing the time until their next payday. "Our brand-new feature Split Income automates personal finances by allowing customers to divide their income across multiple Ubank accounts, making budgeting easier for younger Australians," says Morrison.
The new Chat feature enhances the overall customer experience by providing a convenient and efficient communication channel within the Ubank app.
Meanwhile, Ubank also provides competitive rates on deposits and home lending to help customers achieve their financial goals sooner. Better still, account holders can get a 360-degree view of their bank finances.
"Our connected accounts feature enables customers to see all their accounts in one place, and our partnerships and data sharing streamline the home loan onboarding process," says Morrison.
While Ubank doesn't have a branch network, customers can easily access support if it's needed.
As Morrison explains, "We continue to invest in phone-based support through our contact centre and banker support and engage customers using channels like TikTok and Instagram to build a community and raise brand awareness. Additionally, we create educational content and scam-awareness posts to further support our customers".
Why they won
Three linked accounts - Spend, Bills and Save address consumers' main pain points.
Top product
The Bills account sets aside money for expenses, so account holders can chill about bills.
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