Today’s launching of financial service bidding site, Moneytribe, includes promises of increased lead generation for participating brokers – but at what expense?
Dr David Urpani, director of Moneytribe, says the site represents a free-to-use social platform poised to alter the way Australians access product offers and advice for their financial products.
The site works by providing a platform for clients to anonymously ask sellers to ‘bid’ for their business by starting personalised competition requesting the best home loan product to suit their needs.
Lenders and brokers then post tailored product offers and advice and the consumer can choose to buy from the offer that most appeals. Anyone can explore and respond to active competitions via the Moneytribe website, and competitions can be shared to social media.
Urpani tells Australian Broker the site offers a unique opportunity for brokers.