Home SMART 100 (2013) Mystery Bank (NSW), 2013 Anthill SMART 100

Mystery Bank (NSW), 2013 Anthill SMART 100


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This innovation came to life when…

Our research revealed that Australians are twice as likely to negotiate over buying a property than negotiating on a home loan. This lack of haggling prowess was costing a typical homeowner on a $500,000 home loan $277 a month or $3,324 every year of their loan.


The purpose of this innovation is to…

Shake up the Australian banking industry and help borrowers get access to home loan rates they wouldn’t be able to get on their own.

It does this by…

Similar to “Mystery Hotel” deals – where five-star hotel rooms can be booked at a huge discount – the Mystery Bank deals give consumers access to substantial rate discounts, currently up to 1% off the average Big 4 bank standard variable rate. We have Mystery Bank deals with Big 4 banks, challenger banks and non-bank lenders.


This innovation improves on what came before because…

This is a world first for financial services. The Mystery Bank service allows banks to grab fast market share by offering limited-time exclusive deals to rate sensitive borrowers who want to be with a trusted lender.

The benefits to the customer/end-user include…

An end to uncomfortable rate negotiations but most importantly huge savings. An extra $277 a month is a big saving for the average homeowner – that’s enough to pay for a 10-day family holiday to the Gold Coast each year.



In the past, this problem was solved by…

Homeowners having the guts to negotiate with the banks themselves. We know from our research that many people, particularly women, are reluctant to negotiate on price. Our Mystery Bank service removes this barrier. We take care of the rate haggling for the customer, and all they have to do is sign up then enjoy the savings.

Its predecessors/competitors include…

There aren’t any. This is a world first service for financial services.


This innovation is made for…

The 3 million Australians who have an existing home loan and are looking to save on their loan repayments. It is also particularly suitable for first-home buyers who are staring down a 25-30-year mortgage and are less confident in their haggling skills but want to go with a trusted lender.


It is available for sale through…

Our Mystery Bank service is 100% free of charge. We’re open 24/7. Customers simply register their details and our home loan experts will call them back within 24 hours to answer questions and reveal the banks behind our deals.

Our marketing strategy is to…

Spread the word through PR, social and word of mouth. We partnered with News Ltd to show home borrowers how to haggle their home loan and launch Mystery Bank nationally. Our first Mystery Bank campaign was closed off early because the Big 4 bank couldn’t keep up with enquiries. So far we’ve delivered over $1.14 billion worth of loan enquiries.


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This SMART 100 profile and the information it contains is a duplication of content submitted by the applicant during the entry process. As a function of entry, applicants were required to declare that all details are factually correct, do not infringe on another’s intellectual property and are not unlawful, threatening, defamatory, invasive of privacy, obscene, or otherwise objectionable. Some profiles have been edited for reasons of space and clarity.