In a bid to establish itself as a true alternative to the majors, Aussie has announced it will start offering a series of new financial services to customers.
Speaking to The Adviser, the company’s chief executive officer Stephen Porges said Aussie brokers would be able to provide all the same services as the nation’s biggest lenders within the next two years.
“While some customers will obviously have very sophisticated needs, the mass population want simple products and simple solutions. We already have the credit cards and the insurance solutions in place, so the next step is to become Australia’s primary financial institution,” he said.
“At Aussie we understand that brokers can no longer just write mortgages. If they do not diversify their business, it will slowly decay.”
Mr Porges said customers were increasingly time poor. As such, they want a financial services provider that could meet all of their needs.
“We know that borrowers who can’t get all their financial needs sorted by their broker will go straight to a bank,” Mr Porges said.
“To compete with the banks, we need to offer all the same services and more. We need to be a financial services hub that differentiates itself from the banks by also offering excellent customer service.”
Mr Porges said the company would continue to invest heavily in advertising to help customers understand that Aussie no longer provides mortgages, but a broad range of financial services.