Q. What do you think makes your products so popular with brokers?
In today’s fast-paced financial landscape, where trust and authenticity are crucial, Pepper Money’s popularity with brokers extends far beyond our product offerings. While we’re proud of the positive feedback in The Adviser’s annual Product of Choice Survey, it’s the whole Pepper Money experience that truly sets us apart.
Our strategy focuses on being the first-choice non-bank across Australia and New Zealand. To achieve this, we know brokers need more than just competitive products; our commitment to service excellence means they can expect consistent and transparent decisions.
Our flexible credit policies accommodate a wide range of borrower profiles, including those who may not fit traditional lending criteria. This ensures brokers can offer helpful loan options to clients with unique financial situations, enhancing their ability to serve a diverse clientele.
Industry reporting shows that Pepper Money continues to convert at a higher rate than any other non-bank. When a broker successfully converts a customer’s application, it showcases their product knowledge and experience. It’s a testament to their dedication and skill, proving they have what it takes to navigate complex financial landscapes and deliver exceptional results for their clients.
Brokers are voting with their feet, opting for Pepper Money because we’re a brand they can trust; we deliver consistent credit decisions across a range of innovative products and we deliver an exceptional customer experience pre- and post- settlement.
Q. How have you been tailoring your near-prime, investor, and asset finance offerings in the past year to move with market?
Pepper Money consistently pushes the envelope with products that meet real-life needs. Over the past 12 months, we’ve launched new loan options and updated policies specifically crafted to meet the evolving needs and trends in the near-prime, investor, and asset finance sectors.
Broadly speaking, we’ve recently implemented a series of policy changes across our prime, near-prime, and specialist products. Enhancements include simplified income verification requirements, higher loan amounts, and promotional campaigns such as our current offer that eliminates lenders mortgage insurance (LMI) and lenders protection fees (LPF) on prime full-doc residential loans. This makes it easier for customers to purchase or refinance property with greater affordability, significant savings on fees, coupled with the can-do flexibility that Pepper Money is renowned for.
Given our appreciation of how our experience sets us apart, we are leaders in moving towards a fully automated broker and customer experience, increasing digital efficiency with electronic signatures, biometrics, auto approvals, automated valuations, and real-time payments. Our asset finance platform with API integration into introducers’ CRM removes friction, significantly improves ‘speed to yes’ and ‘speed to cash’. This has driven impressive growth and a Net Promoter Score of +27, highlighting how we simplify business for asset finance introducers.
Alongside new product development, we continuously review and enhance our credit policies and processes to drive exceptional experiences for our brokers. We will keep rolling out new products throughout 2025, with several exciting offerings already in the market.
