Thinktank’s 10th anniversary has coincided with some significant milestones for the lender – but the non-bank isn’t slowing down any time soon.
Thinktank – a non-bank specialist commercial lender that celebrated a decade in business earlier this year – has been advancing a remarkably successful national expansion program over the past three years, with the results are becoming increasingly visible. Year-on-year growth to December 31, 2015 in the loan portfolio reached 32 per cent and annual settlements more than tripled from where they sat just three years ago.
Under the leadership of head of sales and distribution, Peter Vala, the Thinktank relationship management team has become increasingly well-known and highly respected by brokers across the country for its professionalism, accessibility and responsiveness to the day-to-day needs and expectations of the third-party channel.
The team’s approach is all about adding maximum value to individual transactions, helping brokers to identify and develop further lending opportunities in and around their client base, expanding skill sets through precise delivery of training, and sharing knowledge around SME lending which includes products and services outside Thinktank’s own range.
A strategic change in operating structure in the middle of last year has allowed Peter’s team to deliver even faster turnaround times with more immediate access to the credit team. Rather than submitting deals to a quarantined credit department, each Thinktank relationship manager is now paired with a dedicated credit manager and this has allowed for much more effective co-ordination and prioritisation on transactions so we can best meet the timing needs of brokers and their clients. It also has the benefit of facilitating considerably greater responsiveness when it comes to testing scenarios and policy suitability with credit decisions able to be made often within minutes.
In addition to this change, developments in technology are helping to take service and processing times to new levels. With the recent introduction of an online application form option for brokers, combined with an extensive back-end integration program, from early April Thinktank will be able to offer straight through processing and automation of numerous documentation stages which will see transaction processing times through to approval reduced by half – if not more in many cases.
But if there is one thing we have to acknowledge and respect as a non-bank lender in today’s market, it’s that it isn’t just about product, rate, technology, great marketing or any combination of these still individually important factors. It is so much more about the building of quality, lasting relationships. And we believe this is achieved through making the right experience available, keeping it friendly but always professional, and also in giving back to the industry wherever we can.
And from what we have been able to achieve in our 10 years since starting the business in 2006, we would like to extend our sincere thanks and appreciation for the support given to us as a result of our broker and aggregator relationships. We couldn’t have done it without you and we very much look forward to continuing to help grow your business in the years ahead as we also strive to make ours bigger, better and stronger than ever.
Thinktank portfolio snapshot
• Average Loan Size: $627,000
• Current>30 day Arrears: 1.6%
• Weighted Average LVR: 65.1%
• Loans Introduced by Brokers: 99.3%
• NCCP Regulated Loans: 3.6%
• Full Doc Loans: 71.1%
• Mid Doc Loans: 14.9%
• Quick Doc Loans: 4.3%
• Commercial SMSF Loans: 9.7%
• Self-Employed Borrowers: 89.8%
Thinktank Relationship Manager Team
Peter Vala, head of sales and distribution
30 years in the industry in all aspects of corporate, business and consumer finance specialising in the broker channel.
Adam Hutcheson, senior relationship manager
15 years in the industry as an SME and corporate bank and as a broker.
Paul Burns, relationship manager
18 years in the industry specialising in commercial property and third party distribution.
Ranei Alam, relationship manager
15 years in the industry combining a resi background with 10 years at Thinktank.
Tony Zaccari, senior relationship manager, VIC
18 years in the industry in commercial property and equipment finance.
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