Mortgage franchise invests in digital innovation

by Julia Corderoy08 Feb 2016
National mortgage franchise Loan Market has launched a new in-house function to support the development of new technology for brokers and consumers.

Loan Market Digital consists of in-house web developers working to improve existing and build more modern digital platforms for brokers to utilise within their own businesses.

The head of Loan Market Digital, Jason Furnell told Australian Broker that the goal is to empower Loan Market customers and ensure a seamless online and offline experience.

“Our aim is to give consumers the choice of exploring their options both online and offline and understand how best to approach finance both online and offline. 

“Brokers do an absolutely brilliant job of helping people navigate a complex landscape, but we want to create a similar tool to help consumers understand how much they can borrow, what the product options are and what the impacts of structuring loans in different ways are.

“At any point they can choose to speak to an expert or they can continue to explore at home. We are trying to build the perfect blend of good old fashioned service and an amazing online experience. At the moment the broker often mediates the messaging that comes from a lender – and there is a lot of value in that – but we want to make sure there is more transparency and more clarity.”

Furnell says Loan Market Digital is also helping brokers enhance their digital marketing.

“The other thing we are doing is driving digital marketing and helping [brokers] explore package campaigns... At the moment we are managing their AdWords spend, driving traffic, watching conversions and understanding the cost per lead. 

“We have been doing that at a corporate level for quite a while but now we are able to offer that to brokers.”

According to Furnell it is vital in today’s modern world that brokers embrace technology and work with it, rather than fight it, to ensure a seamless online and offline experience.

“I think it is just today’s expectations. People expect to be able to do internet banking, they expect to be able to log into their insurance or superannuation so they can see firsthand what is going on,” he told Australian Broker

“Best case scenario is when [consumers] are engaged in something complex they are empowered to help drive it – they are not passive and they are not relying on one person to do everything. I honestly think it is simply an expectation that none of the broking industry is really delivering on.”
 

COMMENTS

  • by Regional Broker 8/02/2016 9:45:45 AM

    All of this information is readily available for a very small fee from the MFAA site and is regularly updated. Most broker web sites have this embedded into them. Is the reinventing the wheel??