Queensland-based lender QBANK has launched a new rewards program for accredited brokers, which rewards brokers by referring leads to the third party channel.
Through the initiative, QBANK Hero Broker, brokers will be sent client referrals that have not met QBANK’s eligibility requirements or credit policy. Over 20 ‘Hero Brokers’ are already being rewarded through the program, according to the lender.
QBANK executive manager of sales and distribution, Lee Slattery said the non-major lender is committed to the growing third party channel.
“Brokers provide a unique service offering that customers are looking for, that’s why we are seeing 50% use a broker and predictions that they will have 70% market share in the next few years,” she said.
“Working with brokers allows QBANK to reach more potential members with our unique member-owned banking, than we ever could without brokers.”
QBANK marked its entry into the mortgage broker channel in August last year when it partnered with AFG.