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With banks continuing to push online channels, brokers have a unique opportunity to capitalise on consumer dissatisfaction and grow market share, according to industry stakeholders.
Speaking to The Adviser, Mortgage Providers Australia’s Chad Jensen said brokers need not fear the online channel.
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“I’m hearing a lot of talk about online lenders and loan applications and brokers are wondering what impact this trend will have on their business in the future,” he said.
“I, for one, am excited about the future of broking. With banks reducing the human component of their business and moving call and processing centres offshore, I’m thinking brokers will be the human face to credit-related banking.
“I don’t perceive that to be a massive risk, but an opportunity.”
AFG’s general manager, sales and operations, Mark Hewitt, said that despite technological advances, consumers still crave human contact and advice.
“I don’t think consumer dissatisfaction with the banks has necessarily been triggered by a move offshore, but I think the momentum has been building for a while now,” Mr Hewitt said.
“Banks are preferring for people to go online and communicate via call centres rather than in a physical meeting with a staff member, so the opportunity for brokers is just as strong as ever.
“Borrowers want to deal with people face-to-face when it comes to their mortgage. That will continue into the future.”
The comments come on the back of recent research by RAMS which showed that 90 per cent of consumers prefer to deal with local experts face-to-face, despite conducting initial property research online.
