The satisfaction level among borrowers who used a broker to secure a white label mortgage is at a record high, according to new research from Advantedge Financial Services.
Advantedge’s biannual broker satisfaction survey took place in February 2018 and involved 476 brokers and 765 home loan customers.
Overall, the NAB-owned wholesale funder achieved a Net Promoter Score (NPS) of +45, according to the survey.
Most notably, the survey found that customer advocacy for brokers who helped them lodge their white label mortgage was at an “all-time high”, achieving an NPS score of +78, up from +70 in August 2017.
Advantedge general manager Brett Halliwell welcomed the findings, stating: “It’s great to see that four out of five customers would highly recommend the broker who helped set up the white label home loan.
“Customers clearly value the service and guidance brokers provide.”
Customer satisfaction more generally was also on the rise, with the brand receiving an end-customer NPS of +38, up from +23 in August 2017.
The overall satisfaction rating for Advantedge’s CustomerCare team scored 8.1 out of 10, with customers noting that they were particularly pleased with the welcome calls they received from the staff.
Mr Halliwell commented: “While competitive rates and quality of product were also high on the list of factors influencing customer advocacy, the results show yet again that quality service that enables an easier loan experience comes front and centre for brokers and their customers.”
Brokers welcome BDM support and digital innovation
Brokers were also found to be satisfied with the brand’s service offering, driven by strong service levels.
The survey revealed that brokers scored Advantedge’s business development managers (BDMs) a rating of 8.8 out of 10, making particular reference to staff responsiveness and fast turnaround times.
The financial services provider noted that its introduction of IDYou and ZipID software helped improve broker efficiency and enhance the customer experience.
“Thanks to digital signing, our partners at MSA National are seeing 18 per cent of documents now being signed and returned within three hours and 60 per cent signed and returned within three days,” Mr Haliwell said.
“Put into context, that’s the same time it usually takes for paper documents to be received by the customer in express post.
“This digital innovation is shaving five to seven days off the settlement process and leading to increased conversion.”
The biannual survey reported that brokers scored such software 8 out of 10.
In conclusion, the Advantedge GM said: “We’re extremely proud to have achieved such strong results, but there is always room to do more.
“We will continue to enhance our products and services to deliver the straightforward, stress-free experience our brokers and customers are looking for.”
[Related: Advantedge relaunches white label home loans]
Charbel Kadib is a journalist on the mortgages titles at Momentum Media.
Before joining the team in 2017, Charbel held roles with public relations agency Fifty Acres, and the Department of Communications and the Arts.
Charbel graduated from the University of Notre Dame Australia with a Bachelor of Arts (Politics & Journalism).
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