New Zealand's ASB Bank, a subsidiary of the CBA, has been held up as the "benchmark for operational efficiency" by CEO Ralph Norris.
Ray Hair, CEO of PLAN Australia, said this point was highlighted during the recent aggregator lunch with Norris and his executive team in a discussion about the CBA's need to improve margins and mortgage processing efficiency.
Hair said there was also debate around the need to lower LVRs and adjust credit policy in light of the growing property bubble caused by the first home owners grant and record low interest rates.
"The CBA's investment in third party banking and the leadership of Kathy Cummings in driving growth and improved operational performance was acknowledged. Broker frustration with processing delays across the industry due to unprecedented volumes and concerns about channel conflict were tabled by aggregator participants," Hair reported.
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