Direct has launched an incentive-driven referral program for brokers, as part of its strategy to become the primary bank for its customers.
The program has been designed to strengthen the bank’s relationship with its brokers and in turn its customers, by letting brokers refer its transaction account, Orange Everyday, the lender said.
“We know our customers have a positive experience when applying for a home loan through brokers, so it made sense for us to extend this experience to our transaction account. We’ve also improved the application process, making it easier for both brokers and customers,” said head of third party distribution Mark Woolnough
“When taking out a home loan, customers assess their broader financial situation and look for support - which is exactly what brokers provide.”
Based on broker feedback, a new ‘tick box’ section has been incorporated into the application form so customers who are interested in the product can be contacted with more information.
The account can then be opened over the phone and when all criteria are met, a referral fee of $110 will be paid. This fee has been increased to $220 until 31 December.
ING home loan customers with an Orange Everyday account get free ATM access anywhere in Australia and no monthly account keeping fees. The account was awarded Best Bank Account at the 2013 Mozo People’s Choice Awards.