The broker industry has undergone a raft of changes in the last five years, and brokers and banks need to work together to ensure customers receive the best possible service, says NAB
head of broker distribution Steve Kane
The increasing digitalisation of the sector means that consumers are now looking for “instant satisfaction” to their queries, says Kane.
“That will flow through into the mortgage channel as well, so it’s that working together hand in hand between the mortgage broker and the bank that we’re trying to achieve a fair outcome and a fair value for the customer,” he says.
“A mortgage broker may have a good relationship with a bank and that mortgage broker and bank will work together to service the needs of the customer, but it’s about that integration and it’s about the customer of today wanting to be able to touch a lending institution in any way that they can to satisfy the needs they have at the time.
“The immediacy and intimacy of what customers require today is very different than say, five years ago.”
Over the last ten years the industry has more than quadrupled its market share, while dealing with a number of legislative changes, says Kane, but the key principles of good service have not changed.
“It is really about the relationship between the individual broker and the customer and then that customer, the individual broker and the lender of choice and ensuring a professional outcome at all times and that the customer is at the centre of everything we do.”
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