New partnership introduces credit reporting courses for brokers

by Julia Corderoy13 Nov 2014
The Australian Retail Credit Association (ARCA) has partnered with education and training provider, Kaplan Professional Australia to develop and deliver credit reporting education programs for mortgage brokers.

Under the partnership, ARCA and Kaplan will develop online training programs on credit reporting in Australia, which will be available to both ARCA members and non-members.

The first online program will train consumer-facing client advisers, such as mortgage brokers, accountants, financial counsellors and financial planners, on the recent changes to credit reporting and consumers’ new rights and obligations. 

This program, based around the CreditSmart consumer education program, will also cater to call centre staff in financial services organisations.

ARCA CEO Damian Paull says keeping up to date with changing credit reporting requirements is crucial for all credit advisers in a time when consumers are more educated themselves.

“We recognise credit intermediaries, such as mortgage brokers, accountants and financial planners, are often the first advisers to consumers when it comes to credit reporting-related issues. Over time, as the new positive credit reporting information begins to appear in credit reports, more consumers are likely to take a greater interest in their credit report – including their consumer rights. As an industry we felt it was necessary to address this,” he said.

The first CreditSmart online program is expected to be available to Kaplan students, ARCA members and other association members in the first quarter of 2015. The courses will offer industry professionals CPD points towards their ongoing professional development requirements.