St. George has tipped the release of an iPad app it says will provide brokers up-to-the-minute information on products and pricing.
The Mortgage Broker Toolkit app, slated to be available in the iTunes app store at the end of the month, will include serviceability, LMI and stamp duty calculators, as well as a resources library with up-to-date information on the St. George product suite.
The app will also be available for the bank's regional BankSA and Bank of Melbourne brands. St. George mortgage broking senior manager of systems Gary O'Sullivan told Australian BrokerNews the bank developed the app due to the growing popularity of iPads in the mortgage broking market.
"We did some research in the market on the number of brokers in the marketplace with iPads. There's a considerable number of brokers using iPads; about 2,500 that we know about. That actually shocked me," O'Sullivan said.
O'Sullivan said the app will provide brokers with "up-to-the-minute" information on St. George products, and will aid brokers in client meetings.
"I like to think about it as a broker who has a briefcase. In that briefcase would be brochures, serviceability worksheets and all the things like that they take with them on an appointment. With the app, they don't need all that," he said.
Simplicity was also a primary concern in the app's design, O'Sullivan said. He indicated that the app would be easy to use for brokers accustomed to iPad functionality. The app's functionality will also expand over time, with O'Sullivan tipping future updates to add new features.
O'Sullivan said the app's ultimate appeal would lay in the ability to immediately update new product, pricing and serviceability information.
"If a broker is carrying brochures, invariably those brochures are going to be out of date. If they're out of date, they're going to provide the wrong answer or information. What we're trying to do is ensure they have up-to-date information all the time," he said.