Macquarie rises above the majors

Bank celebrates being recognised as a major lender, attributing victory to “ongoing dedication” to broker channel

Macquarie rises above the majors


By Madison Utley

Macquarie has not only celebrated being named ‘Major Lender of the Year’ at the MFAA’s 2020 National Excellence Awards, but has also expressed excitement over being included in the category to begin with.  

According to Ben Perham, Macquarie head of personal banking, the achievement is a testament to the group’s ongoing focus on providing an exceptional experience for brokers and their clients alike.  

“We’re thrilled with this title which is hugely significant to us, not only because it is the first time we’ve been recognised in the major broker category, but also because these votes have come from the brokers with whom we work every day and whose feedback has been a key factor in our ability to continually improve our service,” Perham explained.

“We’re really proud our offering is resonating with the market.”

Before claiming the title on the national level, Macquarie was also named Major Lender of the Year in the MFAA’s state awards for NSW/ACT, VIC/TAS and QLD earlier this year.

Perham has attributed the bank’s success in the home loan and broker market to the group’s “ongoing dedication” to the channel over many years, and its “relentless focus” on working with brokers to deliver the best client experience.

“We know turnaround times are hugely important for brokers, so we’ve made large investments in our systems and in our teams who work with brokers and assess loan applications,” Perham said.

“This has paid off with industry leading approval times.

“We’ve also invested in technology and leading product features which deliver a seamless application process and an overall client experience we’re proud to provide,” he added.

As such, Macquarie announced a number of digital enhancements earlier this week, including the introduction of digital signatures which means the bank’s process is now fully digital, leaving no need to print, witness or sign papers in person.

For the time being, the new capability is available for loan offers to individual borrowers or individual trustees where the securities are located in New South Wales, Victoria, or South Australia as the legislation is still pending in the remaining states and territories.

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