Major bank expands broker credit team access

by Adam Smith22 Oct 2013

A major bank has launched a new broker initiative it says will see it deliver a smoother process to brokers and their clients.

Westpac's new Platinum Credit Team initiative will see it deliver its top broker segment direct access to a dedicated credit management team, which general manager of mortgage broker distribution Tony MacRae told Australian Broker would reduce turnaround times and reworks.

"We have a dedicated team in Adelaide for Platinum brokers that will do dedicated case managements. It will give our Platinum brokers two-way access to dedicated credit management and create a much more streamlined process," MacRae said.

MacRae said the initiative would deliver maximum four-hour turnaround times on broker queries, and allow a smoother process and quick response time for escalations.

"The key is that the person dealing with the broker through the entire life of the loan is the decision maker. Brokers will be able to talk to the credit manager who will be assessing their loan before they even submit it," he said.

Though the program will initially be for the bank's top segment, MacRae left the door open for its expansion to a broader base of brokers.

"If we can demonstrate that this is a very efficient way to do business and give overall better customer service, there's no reason why wouldn't expand it to other parts of our broker business," he said.

"The key is the speed to yes and a reduction in reworks so much cleaner deals are coming through. This continues our partnership journey of wanting to provide the best service to the most professional and best brokers in the industry."