The holistic approach: ANZ

Keiran Evans: It’s the way our business is structured so our channels work as one, and that’s what makes the difference to the broker and their customer. We understand the client’s needs across residential, commercial and asset finance to help the broker satisfy that customer. Our business development managers work hard on helping brokers spot commercial opportunities. They then highlight what else is possible in the commercial space via secured lending or ANZ’s dual application process.

We have some great examples of how this works. Recently, a broker came to us with a client looking to purchase a residential property. We were able to assist with a $1 million home loan and, as they were self-employed, we also provided a commercial loan of $750,000 under the dual application process through a single conversation with their ANZ BDM.

Cosi De Angelis: I agree. We very much operate as one team of specialists across ANZ. There are many happy brokers who have settled a client’s car or truck with ANZ and then worked with us to refinance the whole banking relationship to ANZ. Another example comes to mind, where we recently helped a traditional asset finance broker with a $25,000 car deal ultimately realise a $20 million banking opportunity for their client. The end result was a client with a total banking solution and the broker secured additional diversified income – a new annuity stream that helps them boost the value of their business.

It’s a team effort between ANZ and the broker and it gets the best results for customers.

The notion of a ‘whole-of-wallet’ conversation has become a buzz term in recent years. What does this mean for diversification and how does ANZ support the concept?

Keiran Evans: Customers view their broker as a trusted adviser, so it’s important brokers offer holistic solutions that cater to their client’s entire needs. Having access to commercial finance products provides the broker with an opportunity to engage in a ‘whole-of-wallet’ conversation with a client. This deepens the relationship and fosters loyalty. Not all institutions are organised in a way that delivers a ‘whole-of-wallet’ service through a one-team approach.

Cosi De Angelis: Our combined asset finance and commercial banking broker propositions give brokers access to commercial finance products in a one-stop shop. Over the past two years, we’ve seen a quantum shift in the industry, with brokers now spending more time focusing on a client’s entire banking needs, rather than taking a single-product focus. This provides brokers with an excellent opportunity to look at the total financial needs of their clients as well as diversifying their own income streams.

There can be a perception among brokers that writing commercial loans is more difficult than residential loans. What advice would you give brokers thinking of branching into commercial loans?

Cosi De Angelis: We work step by step with a broker on their first transaction and then offer ongoing coaching and mentoring support. With a bit of help, brokers who are keen to diversify can pick it up quickly. We have a commercial broker who had not considered cross selling asset finance products to his clients, who is now writing over $1 million a month on average by using ANZ’s ‘offline proposition’, which is designed for brokers who aren’t experienced in submitting asset finance applications online. It’s ideal for mortgage brokers who aren’t regular users of the product.

Keiran Evans: We offer support to brokers every step of the way with the option of doing as much or as little of the application as they feel comfortable with or have the resources to put behind. Our service proposition extends to brokers who prefer to focus on residential rather than commercial, right through to brokers who have the expertise to assist clients with sophisticated commercial transactions.

Cosi De Angelis: For the past three years, ANZ has been running training programs aimed at up-skilling mortgage brokers into commercial and equipment finance. The program covers things like how to identify a commercial opportunity, how to structure a commercial loan and lots more. It’s MFAA approved and carries CPD points.

ANZ has a reputation for skilled business development managers – what does ANZ look for in its BDMs?

Cosi De Angelis: We look for individuals who can assist our brokers to grow their businesses. Brokers hold relationships with clients with whom we want to bank, so a broker needs to trust the BDM before they are prepared to refer their client to the bank. Over the past three years we have trained our BDMs in both asset finance and commercial finance, providing our brokers with one point of contact in ANZ for commercial enquiries.

Keiran Evans: We have expanded our BDM team by over a third this year. In growing the third-party team, we’ve recruited a number of resi BDMs with broad experience, including past exposure to commercial, asset finance or both. And, as always, our entire BDM team is working with brokers to deliver customer satisfaction, and that’s what it’s all about.