Brokers across Australia have chosen the nation’s top-performing banks in Australia’s inaugural 5-Star Awards.
Following a tough year of pandemic restrictions and job losses placing a dampener on the economy, brokers and their non-bank counterparts have proved they are made of tougher stuff.
Brokers and non-banks worked together, showing great adaptability and resolve to help their clients through COVID-19 by offering loan deferrals and other support mechanisms.
That co-operation and resilience is paying dividends, with non-banks increasing their market share as more brokers turn to them for competitive interest rates, better technology and turnaround times and a diverse range of lending solutions.
Now in Australian Broker’s 5-star Non-Bank Awards, more than 400 brokers across the country have been surveyed through in-depth phone interviews and asked to select their favourite non-banks.
Brokers were asked to rate non-banks across nine criteria: broker communication, broker training and development, BDM support, products and interest rates, commissions, credit policies, technology and turnaround times.
When the process was complete, seven non-banks achieved over 80% ratings across all criteria, winning 5-Star Awards.
They include Pepper Money and Firstmac.
“It’s so gratifying to receive an award like this, particularly since the products and services we offer, and the credit policy we have today, originally came from broker feedback,” said Pepper Money general manager of mortgages and commercial lending Aaron Milburn.
Firstmac managing director Kim Cannon said the non-bank was very proud that brokers had recognised its efforts to provide a market-leading service across all areas.
Discover the full list of winners here.