Monzo dethrones Starling at the British Bank Awards

Last night the eighth annual British Bank Awards were announced, with a few significant changes to the status quo.

After winning the coveted Best British Bank award for four years running, Starling Bank was pipped to the top spot as Monzo took the crown for the very first time.

As well as Best British Bank, Monzo also took the Best Business Banking Provider and Best Banking App awards away from Starling, as chosen by some 81,000 votes cast by customers for this year’s awards.

“We’re delighted to be voted by customers as the Best Bank in Britain - further recognition of our mission to transform banking and make money work for everyone,” said Monzo’s chief operating officer Sujata Bhatia.

“These awards are testament to the brilliant people we have at Monzo, who live our mission and values daily and ensure customers are at the heart of everything we do.”

It wasn’t all bad news for Starling, as the bank held onto its Best Current Account Provider award and took the Best Children’s Financial Provider award from previous winner GoHenry.

Other standout winners were e-money account HyperJar which took home Innovation of the Year, and NewDay’s recently launched credit card Bip. which won Best Credit Card Provider.

While high street banks remained absent from the awards for another year running, sustainable bank Triodos Bank returned to pick up the Best Investments Provider and Best Ethical Financial Provider (which it was ‘Highly Commended’ for in 2021).

“With the awards 100 per cent voted for by consumers and no judging panel, the British Bank Awards truly reflect the best of the UK banking industry, and the commitment and engagement these organisations have from their customers,” said Jacqueline Dewey, CEO of Smart Money People which runs the awards.

“This year our winners range from the newest firms in the market to well-established household names, illustrating the breadth and depth of the UK's financial services market across many sectors. Both the finalists and the winners of the awards this year should be proud of their achievements.”

The 2022 winners of all 29 categories can be found below:

• Best British Bank – Monzo

• Innovation of the Year – HyperJar

• Best Banking App – Monzo

• Best Newcomer – Tembo

• Customer Service Champion – Novuna Personal Finance

• Treating Customers Fairly Champion – RateSetter

• Personal Finance Journalist of the Year – Katie Binns

• Online Financial Influencer of the Year – Lara Joanna Jarvis

• Best Building Society – Suffolk Building Society

• Best Alternative Finance Provider – CapitalRise

• Best Business Banking Provider – Monzo

• Best Business Finance Provider – Allica Bank

• Best Credit Card Provider – Bip.

• Best Current Account Provider – Starling Bank

• Best Investments Provider – Triodos Bank

• Best Specialist Mortgage Provider – Newbury Building Society

• Best Mortgage Broker – Tembo

• Best Online Trading Platform – Freetrade

• Best Personal Finance App – Chip

• Best Personal Loan Provider – JN Bank UK

• Best Savings Provider – Melton Building Society

• Best Ethical Financial Provider – Triodos Bank

• Best Children’s Financial Provider – Starling Bank

• Best Crypto Exchange – Ziglu

• Marketing and PR Partner of the Year – Teamspirit

• The Pioneer Award – 11:FS

• RegTech Partner of the Year – encompass

• Technology Partner of the year – CSI

• Consultancy of the Year – Capco