The Commonwealth Bank has labelled competitors that do not segment their accredited brokers as "ignorant and apathetic" when it comes to their broker customers' clients.
Following moves from NAB Broker to scuttle its star segmentation strategy which it called 'obsolete' following the transition to NCCP, CBA has lambasted non-segmentation commitments.
CBA executive general manager of third party and mobile banking, Kathy Cummings, said in her view, organisations who do not segment are ignorant and apathetic when it comes to clients.
"Customers are increasingly financially savvy and actually demand a point of difference for brokers to compete for their business," Cummings said.
"This dictates a corresponding need for us as manufacturers and as partners to brokers. Segmentation demonstrates an in-depth understanding of a broker’s business goals and aspirations," she said.
The Commonwealth Bank segments its brokers into a top tier Diamond category, followed by Gold, Silver, Bronze and Mass Market brokers. Diamonds are offered premium service levels, education and other partner benefits, which Cummings said demonstrates "commitment to meeting their business needs".
Cummings questioned the quality of segmentation strategies which she said had followed CBA's initiative, saying other lenders had pursued these strategies only with "mixed success".
NAB Broker recently confirmed that it will not implement a new segmentation strategy. Meanwhile, ANZ has consistently maintained that it does not, and will not segment its broker base.
Other lenders such as Suncorp and Citibank are committed to segmentation offerings, while Macquarie Bank has said that it will continue to offer the same service to all its brokers.
Non-banks have recently followed in the footsteps of the majors, with Homeloans creating its 'elite broker circle' segment to partner with its top tier brokers.
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