Ulbricht, D. et al.Study evaluating the ranking of comparative portals in relation to financial services products

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Dirk Ulbricht, Daniel Stähr, Michael Feigl & Kerim Al-Umaray

Release date:
February 2017

iff institute for financial services e.V.

Consumers use portals to get the contract quickly and easily, to find the cheapest price and because they have the feeling to get better deals online. Financial products, however, are often not directly comparable to their price and are complex. Hence, a price-performance comparison is needed. Many consumers trust portals to help them and make an independent selection based on their interests. Independence means that portals cannot be influenced by their own financial interests. This independence is ultimately demonstrated by the fact that the ranking is drawn up on the basis of objective criteria. The best proof of independence is that the method of the rankings is made transparent. This also refers to why from the possible alternatives the chosen method is the best for the consumer. Transparency means that the consumer is informed, but also that he finds important information in an expected place. And with a reasonable "research" effort. Against this backdrop, the five most frequently used comparison portals for the financial services products are examined in this study: check24, Verivox, FinanceScout24, Toptarif and Biallo. In this case, the extent to which the portals meet these requirements is examined from the customer's point of view. It is not a matter of examining the ranking result with regard to its specific suitability for the individual consumer.

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