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NAB slashes turnaround times

Staff Reporter 4 minute read

By: Jessica Darnbrough

Just three months after NAB was ranked the lowest of the majors in The Adviser's Third Party Banking Report, the bank has staged a dramatic return to form and significantly reduced its turnaround times.

Speaking at NAB’s Better Solutions, Better Business forum yesterday, general manager, NAB Broker distribution, John Flavell said the bank had managed to slash the average time it takes to get a loan to unconditional from almost 25 days in March to 10 days in July.

NAB Broker has made significantchanges and improvements to both its servicing and communication capabilities in recent months, in a bid to make the loan process simpler for its broker partners.

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And it seems to have paid off. A recent survey of broekrs conducted by the bank revealed that one third of respondents feel Homeside has significantly improved its overall service experience over the past few months.

Mr Flavell told The Adviser that the bank’s aim moving forward was to be consistent with its service.

“We are not trying to be the fastest. Instead, we are trying to be the most consistent. We want to provide our brokers with fair value and a service they can rely on, day in, day out,” Mr Flavell said.

NAB slashes turnaround times
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