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NAB launches UBank as CBA brings heat

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Australian Broker | 21 Feb 2011, 04:45 AM Agree 0
NAB launched its long-awaited UBank home loan product over the weekend amid new competitive moves by Commonwealth Bank
  • Martin Rollins: 'MPIA' Mortgage Planning Institute | 21 Feb 2011, 12:15 PM Agree 0
    Have to disagree with Will Keall on the issue of online mortgage applications where he says 'he does not believe the online channel represents a legitimate threat to brokers'.

    Within three years new platforms will emerge whereby a prospective home loan applicant will be inputting their information into a live credit system, and... if the customer is doing that investigative application back with their current bank, the platform will be smart enough to ask that customer if its ok to go and retrieve, then populate their current details (Address-Name-Contact details-Wage info) from the other accounts (i.e. Savings accounts and Credit Cards) they currently hold on that customer.

    .... and simultaneously alert their home-branch to their online app.

    Smart platforms are coming, to argue that Gen Y will do something at odds with everything else they currently do in their online World (including lifestyle) is akin to saying to the Dinosaurs 'what are the chances of a meteorite striking earth'.

    I disagree, online is coming and it will re-shape this industry.
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