Leading mortgage brokers and stakeholders gathered in Sydney yesterday to discuss software and technology, with one aggregation head claiming brokers are pioneers in conducting business online.
Yesterday, PLAN Australia hosted a forum for its brokers to understand and discuss the ever-changing technology trends in the mortgage industry.
PLAN Australia's chief executive, Phil Quin-Conroy said despite anecdotal evidence that brokers are late adopters of technological advances, the opposite is actually the case.
“It’s actually easy to forget just how much this industry has embraced electronic commerce,” he said. “If we think about how much this industry does online, we would actually be the envy of many industries, including the financial planning industry.
“Mortgage broking particularly embraces electronic commerce.”
Clint Waters, a PLAN Australia credit adviser, said the industry now has the right tools to be market leaders in technology.
“Some brokers just don’t understand their software’s capability,” he said. “It’s as much about education as it is about the platform’s capability”.
Mr Quin-Conroy agreed and said broker software was now at the point where it could not only increase the productivity and profitability of brokers' businesses, but also drive business culture, client interactions and overall industry improvement.