Powered by MOMENTUM MEDIA
the adviser logo
Lender

Bank launches new loan tracking platform

by Staff Reporter12 minute read

Steven Cross

Suncorp Bank has consolidated sweeping changes to its third party operations with the launch of new technology that will significantly improve loan tracking for brokers.

Over the last six months the non-major has covered considerable ground in defining its broker proposition.

In addition to increasing commissions with the roll out of year one trail, the lender has also recruited four state managers as the bank reshaped its entire distribution model, establishing the third party operation as a separate channel from the retail network.

==
==

According to Steven Heavey, Suncorp Bank’s general manager of intermediaries, the new loan tracking software tool will allow brokers to keep their clients up to date on the progression of their loan, thereby enhancing the broker/borrower communication process.

“In the past, brokers would have to sit on the phone for 10 to 15 minutes waiting for an update on their application. Our ‘Mortgage Manager’ program tracks every single deal no matter where it is in our system from end to end,” Mr Heavey told The Adviser.

“The new tool will also give brokers the ability to look at Suncorp Bank’s comments – in essence, it will give brokers the chance to look at the letter of offer documentation.

“It’s the best in market we believe.

“When brokers are spending time on the phones, they’re not out there building more business. So the feedback has been outstanding from our brokers.”

In addition to the new technology, Mr Heavey said the lender had made many other “positive changes” in the last few months – all of which would benefit its broker clients.

“We have employed Steve Degetto, who was previously a state manager for CBA and Macquarie, Shane Davis from St George and Harry Hills, who will look after brokers in New South Wales,” he said.

“Having that focus and structure in place with that leadership will be a great benefit. Historically our BDMs would report to people who are not fully across the broker proposition.

“You need to be able to bring focus to the role. We understand the channel and these appointments highlight this. If a broker is being managed by people with a retail background, they don’t get that designated report,” Mr Heavey said.

 

 

default
magazine
Read the latest issue of The Adviser magazine!
The Adviser is the number one magazine for Australia's finance and mortgage brokers. The publications delivers news, analysis, business intelligence, sales and marketing strategies, research and key target reports to an audience of professional mortgage and finance brokers
Read more