The franchise brokerage has announced a new partnership, which will provide Loan Market brokers with access to international money transferring services for their clients.
Loan Market brokers will now be able to provide their clients with international money transferring services, through a newly formed partnership between the brokerage and foreign exchange company XE.
XE has reportedly been servicing the New Zealand Loan Market network for several years, with the partnership now extending into the Australian company.
The money transfer services will be available to Loan Market branded offices, as well as independent brokerages operating under the aggregator’s Bring Your Own Brand initiative.
According to Loan Market, the partnership with XE will allow their brokers to service their current and future clients in a variety of ways. Including:
Loan Market chief commercial officer Stephen Scahill said the partnership with XE recognised the changing needs of clients in an increasingly globalised economy.
“Our brokers’ clients have an increased need for global services, which is a direct result of the international marketplace we now live in,” Mr Scahill said.
“Our brokers have developed wide-reaching relationships with their clients, becoming trusted advisers across the suite of their financial needs.
“Our partnership with XE further supports this relationship, answering the need of clients to transfer funds in and out of Australia in a fast, secure and affordable way,” he said.
Marcus Phillips, strategic partner and affiliate director for XE (APAC), also welcomed the new partnership, noting its previous success in the New Zealand market.
“Loan Market’s New Zealand brokers have been successfully utilising XE for some time,” Mr Phillips said.
“It’s a valuable extension of brokers’ client offering.
“And, in many instances, XE has solved problems for Loan Market and their referral partners, so deals that were set to collapse because of international transfer complexities have been able to proceed.”
Hannah Dowling is a journalist for The Adviser and Mortgage Business.
Prior to joining Momentum Media, Hannah worked as a content producer for a podcast catering to property investors. She also spent six years working in the real estate sector at a local agency.
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