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Banks conflicted over face-to-face policies

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Australian Broker | 30 May 2011, 07:00 AM Agree 0
ANZ and NAB's insistence on face-to-face client interviews is a channel conflict that could end up pushing some brokers out of the inudstry, it has been claimed
  • Ozboy | 30 May 2011, 10:47 AM Agree 0
    Not surprised about ANZ, after all an email sent our on Friday says that IE 9 is not compatible with their software and suggest you downgrade to IE 6 or 7...not even 8. Lenders are really struggling to keep up with technology on all fronts, except of course when it suits them. If part of our matrix to submit loans is via online systems then, I believe, it is incumbent upon them to ensure that they are up to date and usable, if not then we should not be penalised for their short comings. So aggregators, what are you doing?
  • Ian Jervis - Paradime Home Finance | 30 May 2011, 01:53 PM Agree 0
    Great, more channel conflict. How does the compliance risk differ from branches to brokers in this situation, unless their is a deliberate attempt to give the branches an advantage? Maybe Brokernews could do a survey of lenders about face to face v's skype and post the results?. At least it might get the lenders thinking that they need to update their policies if they haven't addressed such isues.
  • Andrew Hunter | 30 May 2011, 02:49 PM Agree 0
    I just want to clarify where I am coming from. I have spent many years trying to use technology to overcome the barriers to employment for people living and working in regional Australia. Whether you agree with the NBN or not, Skype and other broadband tools have and will continue to revolutionise the employability of people in the bush. Which is why I find it so frustrating to be blocked by attitudes that are simply out of date and/or self serving.
  • Mortgage Manager | 30 May 2011, 03:47 PM Agree 0
    Here we go -- more 'industry channel and distribution steering'.... the 'end game' is near.

    A little bit of analysis using 'Porter's five forces' and the hidden strategy banks have been working on is finally emerging from the fog.

    Everyone needs to wake up... Banks and Government have been working tirelessly behind the scenes to re-configure the whole model, via legislation, regulation, compliance, technology and social-steering.

    Meanwhile, the rest of the planet is madly working away on mobile-banking-technology (as are our banks).... Google: World Economic Forum, The Mobile Financial Services Development Report.

    If at the end of that you still think the banks don't know what they are doing, well there's nothing else to say.

    ... or, just start sniffing around NAB's $1.1B platform currently under construction.

    They know all too well that they can do all of this and come out of it looking clean.

  • sidbroker | 30 May 2011, 05:02 PM Agree 0
    To Ozboy. Aggregators are only interested in keeping their clients the lenders happy. They will do little in a direct communication with the lender that would put them into any conflict with them (the lenders).
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