Definition: MoneyHero features products by pinning them to the top of the product comparisons page. The label we use for these products is named “Featured Product”.
MoneyHero comparisons page is intended as a powerful tool to help consumers compare and find the right products based on their needs. Consumers can further refine their searches based on product attributes and offers for example, or make use of predefined categories such as Air Miles, Cash Back etc for further context. The comparisons page makes for an organised showcase of our large catalog of products.
MoneyHero also features products by evaluating a combination of factors, all of which are intended to provide discovery in a contextual manner, so that consumers can make informed decisions.
Our featuring principles, all given equal weighting, are defined below:
• Product features
• Product popularity
• Application process
Based on our research, products with features most valued by our consumers that includes, but not limited to, lower fees, higher rewards, welcome offers with substantial value.
Products that have a higher number of views and applications are more likely to be selected for featuring. This is a crowd-sourced way to find products that might be of interest to consumers.
Products that have an online, straightforward, user-friendly application process and higher rate of approval will be more likely to be selected for product featuring.
See for yourself, take a look at our comparisons pages now.
Specifically for stock brokerage account products, MoneyHero applies an algorithm that assigns a total score to every product, and is used during product featuring.
The scoring is broken down as follows:
Fees that users would incur over a set number of trades per month, with a set price and a set account balance.
Promotions that are currently active and exclusive to applications made through MoneyHero.
Over half of the product’s score weighting is based on product features and promotions.
Of a lesser portion of the weighting is user sentiment. This is calculated based on the product’s popularity data such as traffic and the likelihood of our users applying for such products.
The rationale behind the algorithm is that it fully reflects products with great features that are worth discovering and contributes to a better financial health.
Visit our stock brokerage account pages now to compare and find what suits you best.