IMB Bank tops Canstar’s Customer Satisfaction awards

July 27, 2022

Recognising its enduring commitment to help Australians reach their financial objectives, IMB Bank has been awarded two prestigious Canstar accolades in 2022: Most Satisfied Customers – Bank, and Most Satisfied Customers – Customer Owned Bank.

According to Canstar research, IMB Bank outperformed all other Australian banks in customer satisfaction taking in to account a number of factors including customer service, ability to meet banking needs, value for money, communication, fees and charges, digital banking capability and interest rates.

The awards directly reflect customer feedback, with Canstar’s expert researchers surveying thousands of Australians to rate their satisfaction with their financial institution.

For over 140 years, IMB Bank has prioritised superior service for its customers across home and personal lending, savings and transaction accounts, term deposits, business banking, and more.

IMB Bank’s significant strategic investment in digital transformation, including sophisticated cyber security systems, continues to enhance the experience of its customers. IMB was among the first in Australia to launch real time payments and a full suite of mobile wallets to all its customers.

In October 2021, IMB augmented its digital distribution capability, launching a digital mortgage solution enabling customers to apply for a home loan in as little as 20 minutes and enhanced in July 2022 with automated conditional approval.

While IMB’s digital investment continues to deliver benefits for customers, IMB maintains a strong focus on personal service and supporting its customers through the pandemic.

IMB Bank CEO, Robert Ryan, said, “We take pride in our service, competitive products and the convenient and secure banking options we offer. For over 140 years, we’ve helped young people, families and older Australians at every step of their financial journey. Adding to our offering, I’m pleased that we’ve been appointed to the lending panel for the Australian Government’s Home Guarantee Scheme to help more young Australians get into their first home.”

Mr Ryan added, “Australians are under pressure. Rising living costs, increased prevalence and sophistication of scams, the impacts of severe weather and the continuing pandemic are testing the resilience of many people. So, it’s vital that we not only offer highly competitive products to help Australians be better off but provide a banking proposition that is easier and more secure.”

“We’ve made significant investments in our digital banking capability and deployed leading fraud detection and prevention technology. Our mobile banking options, easy online account opening and streamlined loan origination technology provide simple, secure banking for our customers. Combined with our branch network, mobile lenders and business bankers, and Australian-based call centre, I believe we provide a complete and compelling experience enabling our customers to bank in a manner that suits them.”

“As one of Australia’s largest customer owned banks, we’re proud to be acknowledged with two Canstar awards for customer satisfaction. The awards highlight the opinions of our customers, and their trust in IMB to provide financial support that helps them achieve their goals,” said Mr Ryan.

Canstar’s Managing Director and CEO, Andrew Spicer said, “Our Banking Customer Satisfaction Awards recognise the providers whose customers say they’re doing a great job in meeting their expectations.”

“Customer satisfaction is particularly important in banking right now when many borrowers and customers are faced with mounting money concerns from cost of living pressures and inflation, to rising home loan interest rates.

“Congratulations to IMB Bank for taking out the Bank and Customer-Owned Bank categories, where customers highly rated their satisfaction across the areas of ongoing fees and charges, product range, communication, value for money, digital banking and the interest rate on offer.”

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