Bank makes third-party debut

by Julia Corderoy07 Sep 2015
Bank Australia has announced a partnership with major aggregator AFG, marking its entry into the third-party channel.

Bank Australia’s chief operating officer, John Yardley, says the customer-owned bank wants to be the preferred choice for brokers looking to offer their customers a competitive alternative to the major banks.

“AFG prides itself on providing its broker network with a range of options to help them be competitive and provide a high quality service to their customers; and, this aligns closely with our aim to be a genuine alternative for people looking for sharp pricing and quality service,” he said.

The partnership with AFG is Bank Australia’s first entry into the broker market, which will start with a group of AFG-affiliated brokers in Victoria this month before expanding to other states.

“Our entry into this market is part of the bank’s strategy to continue its strong growth by accessing people who are seeking the advice of brokers in finding a home loan and who would not have had the choice of considering Bank Australia products without this relationship,” Yardley said.

“We looking forward to a productive and long-term partnership with AFG that will deliver growth to the bank and a competitive choice to AFG and their network of brokers.”

AFG Victoria & Tasmania state manager Carl Taylor says there has been strong demand from brokers to add Bank Australia to its panel and giving them access to Bank Australia products is part of its commitment to broaden customer choice in this increasing complex market.