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Service: The driving force behind white-label loans

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Service: The driving force behind white-label loans

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Advantedge 4 minute read

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Quality products at competitive prices have traditionally been the fundamentals of white-label loans. As the market evolves, another ingredient has become just as important – great service.

In a competitive market, brokers strive to deliver the highest level of service to their customers to stand out from the crowd. All savvy brokers know that this high standard of customer service is crucial to the success of their business and will be rewarded by loyalty, referrals and repeat customers.

Advantedge seeks to emulate the high level of service we offer brokers and build strong working relationships with them, as we believe we’re an extension of the broker’s business. This is why service is the new driving force behind white-label loans, and it is our commitment to provide brokers with the support they need to serve their customers to their full potential.

We’re delivering white label loans with great service in three key ways.

1. A diverse range of support

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Sourcing a home loan can be the biggest financial decision a person ever makes. It’s no wonder customers demand a high level of support from their brokers and rely heavily on them as trusted advisers to guide them through the process.

Advantedge supports brokers by providing services such as dedicated business development managers who are on hand to respond to all broker questions, broker support teams and scenarios teams with credit authority– so a scenario ‘yes’ is a yes during the real application, ultimately saving brokers and their customers time.

Advantedge’s credit managers are available via direct phone or email to help with complex deals, and our lending teams take a personalised approach. They’ll call the broker on every deal. More importantly, brokers have one credit officer assigned to each application, which allows for a consistent service and helps brokers to establish and maintain a relationship with the credit officer throughout the loan application process.

In our latest brokers satisfaction survey*, Advantedge received of 8.1 for overall service satisfaction – showing brokers appreciate these services.

2. Providing good customer service

Great customer service is central to maintaining customer loyalty. We have a customer retention program that informs brokers when customers are rolling off their fixed rate term or interest-only period within the next 45 days.

This friendly reminder helps brokers build customer relationships, and step in at a critical point in time to help the customer on the next step of their loan journey. We always refer customers to contact their brokers if they wish to change or discuss further about their home loan needs. It’s been a resounding success, and between January – May 2017 we’ve helped brokers connect with 2,545 customers.

Additionally, we offer a market-leading Australian based CustomerCare team. Brokers can contact the team directly to request customer loan details on their behalf, empowering brokers to offer excellent customer service.

This service is also available to customers post settlement, meaning they can receive quick responses to their enquiries. The CustomerCare team conducts welcome calls to ensure the customer’s account details are set up correctly and to help with any further queries customers might have.

3. Ensuring fast approvals

Brokers strive for first-touch unconditional approvals, as another string to their bow as it provides customers with a speedy, hassle-free loan experience.

Quality submissions are crucial in enabling lending teams to help brokers provide their customers with faster turnaround times for formal approvals. To help with this, over the last 12 months, Advantedge has empowered brokers with a quality submission checklist. For submissions that tick all the boxes, Advantedge has been delivering consistent approvals within 48 hours.

Another service that’s making it easier for both brokers and customers to get the home loan sooner is the Advantedge Customer Preferred Appointments. In an Australian first, Advantedge customers who need a valuation of their property for a home loan application can arrange their appointment directly by SMS – creating a simple, convenient solution.

Via the new technology, customers receive a text message providing them a range of date and time options from different valuation firms. They’re also able to access a calendar function.

Customers can then reply via SMS with their preferred time and it will be immediately confirmed. Customers who don’t respond to the SMS will receive a phone call to arrange their valuation appointment.

Good service fosters loyalty

In the most recent broker satisfaction survey for Advantedge, we received an overall Net Promoter Score of +38 across seven of our white label home loan brands, which is testament to the fact that we are a broker-centric organisation that works in partnership with brokers to help them provide great service to their customers.

Our responsiveness, turnaround times and consistency in service are key reasons brokers are advocates of our white-label home loans.

By delivering great service to brokers, we’re enabling brokers to provide their customers with a great experience and deliver on customer satisfaction. These customers then become powerful advocates who can play a significant role generating referrals and repeat business, ensuring a broker’s success.

 

*Advantedge Broker Satisfaction Survey conducted in February – April 2017.

 

Service: The driving force behind white-label loans
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