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‘Data is king’ mindset stokes growth for brokerage

by Lucy Dean4 minute read
Martin Fedmowski

A Melbourne-based brokerage has surpassed $100 million customer submissions by leveraging customer data and overhauling its business processes.

RateOne’s milestone comes after four years in business.

Martin Fedmowski, who co-founded the business with Adam Nelson and Ted Ongarezos in 2012, attributed the result to an “overhaul” of business processes two years ago.

Mr Fedmowski commented: “We implemented a back-end team of six in Melbourne and Manila who do all our processing – everything from submissions to data entry, settlements and tracking and we provide that service to the 28 brokers in our team.”

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Adding that RateOne was “pedantic” about data, Mr Fedmowski said that clients’ details like car loan expiry dates and anniversaries for fixed rate loans were entered into the RateOne system to prompt client-broker conversations prior to those dates.

“It has been hard work getting there, with a lot of planning and training involved but now the system is working really efficiently. We have seen significant increases in loan volumes from the brokers that have recently joined us as a result.”

RateOne also worked with Choice Aggregation Services’ (of which RateOne is a member) business development team to “streamline its process and improve client service”. The brokerage produced a ‘journey builder’ which provided clients with residential preapproval with tips for each phase of the property buying timeline.

“Strong relationships” with residential real estate partners were also credited as a factor in RateOne’s results.

[Related: Planning for the future]

martin fedmowski

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