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Bank’s new offering built around broker businesses

by James Mitchell4 minute read

The launch of Bankwest’s new home loan tracker app is the result of months of research into what could help brokers build better businesses.

Bankwest launched its Application Tracker app late last month to a pilot group of 1,000 mortgage brokers and their customers. This week it became available to all brokers accredited with Bankwest.

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According to Stewart Saunders, the bank’s general manager of broker sales, the new offering is the culmination of four or five months’ worth of extensive research into the end-to-end customer experience of obtaining a home loan.

“Through that research, the first piece we started to work on was the application tracker. What was really clear through that research was the level of anxiety borrowers felt. Many customers found the process confusing,” Mr Saunders said.

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The research also included insight from mortgage brokers through a series of focus groups and case studies. Mr Saunders said brokers saw the app – which allows customers to check the details and status of their home loan application using a real-time, 24/7 online service - as a way of keeping their customers informed while still allowing them to deliver key moments of truth, such as the unconditional communication. 

Mr Saunders said brokers can expect more innovations from Bankwest over 2017.

“The next year is really exciting for us. The past 12 months has been a period of consolidation and ensuring we have a strong platform to build on,” he said.

“Where we really aim to differentiate is providing them with the ability to grow their own businesses by providing an outstanding customer experience.”

The Bankwest Application Tracker is a web-based tool designed to keep customers informed throughout the home loan application process from the time the application is lodged, through approval, and right through to their first repayment.

[Related: Bankwest launches mortgage tracker app]

Bank’s new offering built around broker businesses
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James Mitchell

James Mitchell

AUTHOR

James Mitchell has over eight years’ experience as a financial reporter and is the editor of Wealth and Wellness at Momentum Media.

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