A non-major lender has taken steps to help brokers diversify their revenue streams, reinforcing its pledge of support for the third-party channel.
Suncorp Bank has launched an online application process for submitting small business loans, supporting mortgage brokers’ diversification initiatives into SME business lending.
The new process will see brokers electronically lodging SME applications via NextGen.Net’s ApplyOnline system.
National small business manager, Robynne Frost, said the move will improve Suncorp’s service to the third-party channel by increasing efficiencies and providing faster turnaround times on deals.
“The SME sector represents a significant opportunity for our broker partners,” she added.
“The addition of small business lodgement through ApplyOnline enables brokers to easily transition from home loans to small business with a streamlined ‘combination’ application,” Ms Frost said.
Furthermore, Ms Frost said Suncorp Bank was enabling the diversification transition by running SME Masterclasses, providing dedicated BDM support and offering improved commissions.
NextGen.Net sales director Tony Carn said the introduction of the new process was evidence of the Bank’s enterprise.
"Suncorp Bank has shown market leadership in the broker channel in a competitive and ever-changing market,” he said.
According to Mr Carn the new electronic lodgement platform provides a feature-rich alternative to the original manual system, offering improved options such as dynamic print capability, application cloning and automated milestone notifications.