Bank/Broker program tackles channel conflict

Rolled out by a major bank, the initiative aims to preserve and support the broker-customer relationship

Bank/Broker program tackles channel conflict

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National Australia Bank (NAB) has celebrated one year of success for its Customer Adviser Broker Program which aims to promote a better relationship between the retail channel and broker network.

The initiative was commemorated at NAB’s ‘Connecting Brokers with our Bankers’ event held in Sydney earlier this month and hopes to help brokers connect with NAB staff, including retail staff and BDMs, all while onboarding customers.

The Customer Adviser Broker Program was rolled out 12 months ago, placing more than 20 bankers in dedicated broker-focused roles. These bankers were charged with managing broker-introduced clients in NAB branches across Australia.

With the success of the program, the number of these broker-focused bankers is set to grow.

The initiative helps eliminate channel conflict, respecting the broker-customer relationship, head of NAB broker distribution for NSW/ACT Nick Notaras told over 80 brokers attending the event.

“We want to ensure that your customers are fully supported when they walk into a NAB branch. We will onboard your customers, we will welcome them and, most importantly, we will value your relationship.”

The introduction of specialised NAB bankers created a physical touch point between the retail branch, brokers and customers, he said.

“Ultimately, the initiative means that broker-introduced customers are able to receive tailored, expert advice through a NAB branch, in the same way retail-introduced customers would.”

NAB is committed to becoming the number one bank for brokers, said NAB general manager of broker distribution Steve Kane.

“We are listening to our brokers, and demonstrating our long-term commitment to shape an unbelievably good broker-customer experience.”

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