Tech crucial for brokers' future: ubank

The head of distribution and keynote speaker for the event, George Srbinovski, spoke about the digital lender’s broker strategy over the last few years since its acquisition of 86 400 and how it intends to support brokers.

Speaking to The Adviser, Mr Srbinovski said the event was a big investment into the broker space, their technology and help provide them with tools to serve more customers.

“In terms of our broker strategy, we’ve spent the last three-odd years talking to brokers and getting them accredited to get them on board.

“…and now moving into the future, it’s [about] how we continue to innovate and how do we continue to educate and work closely with brokers to get you back on their shopping list,” Mr Srbinovski said.

Mr Srbinovski further stated the digital lender wants to be known for faster and simple digital processes for both customers and clients.

Acquisition and merger of 86 400

NAB received court approval in 2021 to proceed with the acquisition of neobank 86 400 and subsequently merged the neobank with NAB’s direct-to-consumer lender ubank, expanding its reach into the third-party channel.

The digital lender and 86 400 officially merged into one brand in 2022, relaunching under the ubank brand, thus opening up the brand to brokers for the first time in its 13-year history.  

At the time of the relaunch, the ubank brand offered digital home loan experiences to more than 8,000 brokers, however that number now has reached 11,000, Mr Srbinovski stated at the BrokerFest event.

“Our elevated digital experience allows for an efficient home loan experience, and that’s a very exciting proposition for customers and brokers alike,” Mr Srbinovski said at the time.

“We look forward to getting in front of brokers, introducing them to the new ubank and welcoming even more of them to our network as we continue to invest to grow.”

Commenting at the time of the relaunch, ubank chief product officer, lending, Kanishka Raja said: “By bringing together the best of what customers and brokers have come to love with 86 400 and combining it with UBank’s established name, customer base and scale, we’re able to deliver a best-in-class digital experience to more than eight thousand brokers who are currently using the platform.

“We’ve created a digital experience that works for the broker, and we will continue to invest in the right people and technology to keep taking our home lending experience to the next level,” Mr Raja said.

Find out more about the strides being made to help make broking lightning fast in the April edition of The Adviser magazine, out next week!

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