Head to head: What are your goals for the year ahead?

For three brokers, the next 12 months will be about improving processes and educating future clients

Brice Booker
Finance broker
Mortgage Choice, Brisbane

“I’m aiming to increase the number of my applications moving through one-touch approvals. Being able to submit a client’s application and have it approved by the bank/lender within a short turnaround period, on first touch without anything outstanding being requested, makes the complete process extremely smooth and as simple as possible for my clients. We have been focusing on what documents we hold prior to meeting a client in order to be able to complete the research completely. This means we can discuss what packages and options are available and keep everything moving forward as cleanly as possible.”

Grace Gardner
Broker
Aussie Burnie

“My goals for 2020 are focused on the continued growth of my broking business as I head into my second year of operation. I will be looking to grow my team so I can service more customers and improve the processes I have in place from lodgment to settlement to ensure an exceptional customer experience from start to finish. With the improvement of my business processes I can use my time to work on further business development initiatives, such as first home buyer seminars and coffee activations. My personal goals for 2020 are to become a strong leader within the industry and my local community by attending key local events and professional development days.”

Deslie Taylor
Owner
Mortgage Choice Ormeau

“I’m working with three local high schools and developing an education program for Year 10, 11 and 12 students in the areas of budgeting, savings, lending, understanding positive credit reporting and the consequences of borrowing money they can’t pay back, resulting in defaults or bankruptcy, as well as the consequences of phone plans and other contracts that could also end in a poor credit outcome. I find most students are not taught these vital financial tools before the age of 18, so they enter adulthood with limited knowledge, resulting in poor financial decisions. These tools are more important than ever to ensuring they’re ready to enter the lending world with all the changes it’s experiencing.”

 

ARMED AND READY
While artificial intelligence, robotics and digital disruption play a growing role in the future of loan processing, brokers will still have a place in it, according to ANZ general manager of retail broker distribution Simone Tilley. “We all love the need for speed, and so do our customers,” she said at the 2019 MPA Major Banks Roundtable. “But I think for complex transactions and big decisions people are still going to want to deal with people. And this business has been based on an incredible strong relationship model being successful over time.”

Adam Croucher, general manager of third party banking at Commonwealth Bank, added that with the rising number of broker-originated loans the bank had been receiving, he expected a period of growth and consolidation for the broking channel. “I think we’ve got nearly 11,000 brokers accredited with us, and I see that there will be over the next period a level of consolidation and some growth in businesses as they really arm themselves for the challenges ahead.”