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Bendigo Bank has joined the lender panel of four aggregation groups, as the group continues its transition away from the Adelaide Bank brand.
Thousands of brokers can now access Bendigo Bank-branded loans for the first time after four aggregation groups brought the lender onto their panels.
Yellow Brick Road Aggregation, National Mortgage Brokers (nMB), Astute Financial Management (Astute) and Custom Equity Group have all now come online with Bendigo Bank Broker.
Speaking of the growing accessibility of Bendigo Bank mortgages through the broker channel, the bank’s general manager of third-party banking Darren Kasehagen said: “Bendigo Bank Broker is celebrating its next major milestone with four aggregators coming on board to offer Bendigo Bank home loans.
“This next phase will see brokers across four fantastic Australian aggregators – in Yellow Brick Road Aggregation, National Mortgage Brokers, Astute Financial Management and Custom Equity Group – offer Bendigo Bank branded products for the first time ever.
“We’re thrilled to have these great aggregators on board and look forward to showing their extensive broker networks just how seamless, quick and easy our Bendigo Bank Broker offering is.”
Peter Bryant, the new head of Yellow Brick Road Aggregation, said: “Here at YBR Aggregation (formerly Vow Financial), we are excited to now offer Bendigo Bank branded products through our extensive network of over 1,250 brokers.
“Bendigo Bank is one of the most trusted brands in the industry and we believe this new offering will be very well received by our customers.”
Gerald Foley, managing director of nMB, similarly said the group was looking forward to offering Bendigo loans through its broker network, with the Adelaide Bank brand now being phased out.
“At nMB, we’re thrilled to partner with Bendigo Bank during this exciting new phase of their business and look forward to continuing our long relationship,” he said.
Nathan Kerr, head of sales at Astute said the Bendigo Bank brand was “well regarded by clients and brokers alike”, adding it was “great to now have access to Bendigo Bank products”.
“Bendigo Bank has been very supportive during the transition, making it a seamless process for both Astute and its members,” Kerr said.
David Haythorn, CEO of Custom Equity Group, agreed: “As a leading boutique aggregator, Custom believes in supporting our Broker Members with the best possible lending opportunities for their clients.
“This objective aligns perfectly with what Bendigo Bank is doing to reduce complexity for both brokers and their customers.
“We look forward to working together with the experienced team at Bendigo.”
The Bendigo Bank transformation
The four groups join the growing number of aggregators that have made the loans available to their brokers since the retirement of the Adelaide Bank brand as part of the lending group’s ongoing “transformation journey”.
Bendigo Bank Broker can now be used by thousands of brokers across eight separate aggregator partners (including Mortgage Choice, Specialist Finance Group, outsource Financial and Finsure), with the rolling onboarding program expected to continue over the next month.
The bank is also particularly focusing on driving mortgage lending through its new lending origination system and is expected to push further into business banking and both broker and direct channels moving forward.
Kasehagen said: “Bendigo Bank Broker is for brokers who want better. We combine strong business relationships and enhanced digital processes to deliver a broker focused, service driven platform for brokers across the country. We’re committed to being there for our brokers – so they can be there for their customers.”
You can find out more about Bendigo Bank Broker and its plans for the broker channel in this Q&A and podcast with the bank’s head of broker distribution Natalie Sheehan:
[Related: Bendigo looks to broker growth with new lending platform]
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