Lending platform Joust have brought a new product to market that could go a long way to making lead generation and customer service much easier for the broker channel.
Joust Instant Match seeks to bring borrowers and brokers together on an equal footing with lenders, allowing broker channel to access strong leads with easily identifiable data points on their customers.
“There’s a few things about instant match that are really good for brokers,” said Anny Le Wilson, Chief Revenue Officer at Joust. “One of the thing was that, in the market, the entry barrier for digital marketing was quite high for most brokers.”
“We found a solution to providing a competitive platform to engage with consumers, and find a way of engaging with consumers and brokers in a fun way, but at the same time, having quality data points that speak to what the broker is looking for to have a deep conversation.”
“We think, having built the platform, that it brings customers and brokers on a platform where brokers and lenders can compete equally. That’s brilliant because a lot of brokers feel that the digital marketing world is a barrier of entry for them.”
Le Wilson has had a foot in both camps, having worked in Third Party at NAB and as a banker at CBA.
“For me, playing in the broker and proprietary space, there’s a gap in the market,” she said. “It was always proprietary v third party, and we found the opportunity because, in reality, brokers make up over 60% of the marketplace in providing solutions to the consumer.”
“Therefore, it’s a model where the business can sit well within the space in terms of providing customer acquisition at an affordable rate, while at the same time bringing the fun in terms of what it looks like for the customer.”
“That’s why it’s called Instant Match: our customers who sign up are asking to be instantly engaged. Gone are the days where it’s just a name and number and brokers get disengaged from the quality of conversation.”
“We’re anchoring that down with ten data points that speak to what a consumer is looking for and speak in a language that is translated to brokers as what they would ask for from a financial services background.”
“The competition of engaging with the consumer has become quite overpopulated, and coming from a banking background and a third party background, it’s easy to identify the need in the market for a customer acquisition solution.”