In an effort to highlight the cross-sell opportunities with residential lending and business loans, one of Australia’s largest challenger banks says almost one in three of its home loans are for self-employed borrowers.
Speaking to The Adviser, Suncorp Bank national manager of small business and commercial banking intermediaries Robynne Frost said that brokers keen to diversify into business lending should invest the time to educate themselves about the SME sector and become comfortable with having discussions about SME lending solutions with their client base.
“Approximately 30 per cent of our home loans are for self-employed borrowers, which highlights the opportunity for our broker partners to cross sell,” Ms Frost said.
“The important part for brokers is to have the confidence to have exploratory conversations with customers beyond their personal borrowing needs.”
Suncorp Bank is developing a series of educational forums and workshops to support its broker partners to have a stronger understanding of how to leverage their existing customer base to attract new business and gain SME exposure.
Suncorp Bank is also the platinum partner of The Adviser’s upcoming New Revenue Streams event in Sydney on 27 October and Melbourne on 29 October.
The intensive one-day boot camp will get brokers business fit and ready to launch new revenue streams in their business, generate referrals and create simple marketing strategies to reach new clients that want more.
Tickets are strictly limited so get in quick to secure yours today! Click here to register now.
[Related: Suncorp strengthens commercial team]
James Mitchell has over eight years’ experience as a financial reporter and is the editor of Wealth and Wellness at Momentum Media.
He has a sound pedigree to cover the business of mortgages and the converging financial services sector having reported for leading finance titles InvestorDaily, InvestorWeekly, Accountants Daily, ifa, Mortgage Business, Residential Property Manager, Real Estate Business, SMSF Adviser, Smart Property Investment, and The Adviser.
He has also been published in The Daily Telegraph and contributed online to FST Media and Mergermarket, part of the Financial Times Group.
James holds a BA (Hons) in English Literature and an MA in Journalism.
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