More than 27,000 UK customers voted for their favourite banking products, with Starling Bank and Mojo Mortgages each winning multiple awards
Starling Bank was the headline winner at the British Bank Awards last night, edging out rival Monzo in a closely-fought contest to take home the title of best bank for the second year running.
The UK challenger bank also scooped two further awards, for best business banking provider and best current account provider.
Online mortgage platform Mojo Mortgages won two prizes – the hotly-contested innovation of the year, as well as best mortgage broker.
Who votes in the British Bank Awards?
The awards are run by Smart Money People, a UK consumer finance review website, with the winners voted for by more than 27,000 of its users.
Michael Fotis, founder of Smart Money People, said: “The British Bank Awards have one simple aim – to highlight the firms delivering high customer satisfaction.
“This may be companies with innovative products and services, as well as those with tried and tested business models.
“This year, it’s been particularly pleasing to see more customers passionately engaged in the voting process, and willing to tell us what they like, as well as what could be better.”
Starling takes three prizes at the British Bank Awards
Starling Bank has built a growing business around its mobile-only current accounts, supplemented by a marketplace feature that gives customers direct access to third-party banking products like pensions, insurance and savings.
Last month, it announced a £75m funding round, and secured a £100m grant as part of the Capability and Innovation Fund – a money pot created as a condition of the Royal Bank of Scotland’s government bailout during the financial crisis.
Starling CEO Anne Boden said: “Winning these awards is recognition of the hard work of the Starling team – and reflects the enthusiasm of our customers to drive long term and meaningful change in banking.
“We are thrilled to win these awards and grateful to the customers who voted for us.”
Rival challenger bank Monzo didn’t leave empty-handed, taking home the awards for best banking app.
Banking league table updated
In all, 24 categories were contested at the event held in London last night, including niche areas like regtech, share trading and travel money providers.
Alongside the awards, Smart Money People released its own banking league table, which ranks the UK banks based on customer satisfaction scores from reviews left on its website over the past year.
Barclays and Royal Bank of Scotland gained the most ground in the table, moving four and five places respectively to seventh and tenth positions.
Tesco Bank and TSB were shown to have fared poorly among customers in the last 12 months, however, with both institutions dropping down places to the bottom of the table.
The full list of winners at the British Bank Awards
Best British Bank: Starling Bank
Innovation of the Year: Mojo Mortgages
Customer Service Champion: Dudley Building Society
Treating Customers Fairly Champion: Close Brothers Savings
Best Newcomer: evestor
Best Banking App: Monzo
Best Current Account Provider: Starling Bank
Best Business Banking Provider: Starling Bank
Best Mortgage Provider: NatWest
Best Specialist Mortgage Provider: Darlington Building Society
Best Mortgage Broker: Mojo Mortgages
Best Credit Card Provider: Virgin Money
Best Savings Provider: Vernon Building Society
Best Personal Loan Provider: Zopa
Best Alternative Finance Provider: Satago
Best Personal Finance App: Chip
Best Travel Money Provider: WeSwap
Best Business Finance Provider: Nucleus Commercial Finance
Best Investments Provider: WiseAlpha
Best Share Trading Provider: Freetrade
The Pioneer Awards: Bud
RegTech Vendor of the Year: DueDil
Technology Vendor of the Year: DPR
Consultancy of the Year: 11:FS