NBN could 'overhaul' mortgage broking

by Mackenzie McCarty01 Nov 2012

A leading aggregation CEO predicts the National Broadband Network could radically change the way brokers work.

With the National Broadband Network aiming to provide reliable broadband access to all Australians over 10 years, LoanKit's CEO Simon Dehne said it would be a 'game changer' for how brokers and customers interact.

"Picture a typical family, a husband and wife with two children, for example," he said.

"Instead of having a bank manager or mortgage broker visit them in person, they visit the mortgage broker’s website, click the button to speak to a broker and then conduct the conversation via video link in their living room.

"They receive personalised support and guidance from a real person in the comfort of their own home."

Dehne said this would deliver massive productivity gains as video meetings become more and more widespread.

"The need for both service providers and their customers to travel will decrease, and service providers will be able to focus on larger groups of potential customers, unrestrained by geographical location.

"Broking groups could conduct multiple loan interviews using video meetings from anywhere in Australia or the world."

Dehne acknowledged there were some problems that would need to be overcome - particularly in relation to security and the identification of customers - these were not insurmountable.

"There is no doubt that the paradigm we have become so familiar with in the mortgage broking business has served us well, but it is definitely due for an overhaul," he said.

Want to read Simon Dehne's full article on the NBN, and why we should predict the future? Read it now!


  • by Country Broker 1/11/2012 10:02:26 AM

    This is all well and good , the roll out in my region is at least 2 years away !!

  • by Positive Broker 1/11/2012 11:38:56 AM

    I also think the face to face meeting is still the best way to build rapport and trust and can't see that changing in my lifetime.

  • by PeterT 1/11/2012 12:13:46 PM

    Face to face will still be the best way to conduct business, but for those who can't meet in person, we already do this sort of thing. Existing broadband is already more than sufficient to acocmidate video confrencing.