Big Banks Fail Consumer Test: new financial service website

Mozo.com.au is a first of it’s kind financial service website that uses consumer generated content and live data feeds to compare and rate financial products and providers on everything from interest rates to customer service.

It was launched yesterday in light of findings that reveal regional and community banks are out performing the bigger banks in every way. Have a look for yourself at www.mozo.com.au

For the launch, Mozo.com.au, in conjunction with Roy Morgan have conducted a provocative and in-depth survey of 3000 Australians to rate and review their financial providers on trust, customer service, convenience, product features and rates and fees. Some of the findings include:

• The Commonwealth Bank and NAB were rated Australia’s least favourite banks
• Bendigo Bank is Australia’s favourite bank, ranking above all the big banks
• Regional banks (often the ones consumers know little about due to limited marketing budgets) dominated the Most Trusted Banks category

Mozo.com.au have incorporated web 2.0 principles that bring a user friendly, interactive feel to the site, along with live data feeds from ALL the banks across Australia. Users can compare credit card repayments among financial institutions, find out which bank offers the best home loan and write user reviews- all with the click of a mouse.