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ISCOVER
By Blake Albones, Head of Lending Distribution at MyState Bank
With the tenth RBA rate increase in a row this month and about a third of all home loans currently on much lower fixed rates, many of which will revert to higher rates over the next few months, it is an increasingly volatile lending environment for borrowers.
It is therefore more important than ever for brokers to ensure they are aligned holistically with their loan providers to ensure customers can move to loans that are a good fit for their financial lifestyle. Relationships can be easy when business is good, but in more volatile times, the strength of those relationships can be tested, and a loan provider doing real things that illustrates its mission can make your job as a broker much easier.
That’s why when people ask the question “Why MyState Bank?” we don’t just tell them about it, we show it too. We often talk about having a more ‘human way to bank’. Our human touch flows through all our engagement with brokers and your customers. It shapes the way we communicate, the structure of our products, and our services and actions that support them.
It ensures we deliver for all our stakeholders, including our customers, to help them achieve their dreams of home ownership with a human touch.
Our brokers are key partners to MyState’s servicing of our home loan customers. Governing our broker and customer relationships are six core themes.
First, we act in a way that inspires trust. We have genuine conversations that are fair, honest, reasonable and ethical, and we offer customers products and services that meet their needs. We bring experienced Broker Relationship Managers (BRMs) onto your team. Our BRMs can create more loan opportunities for your business and to build your client base. All you need do is pick up the phone to discuss.
This leads to engaging customers clearly with no jargon. We use plain and simple language, to create more accessible interactions, which everyone can understand and be a part of.
We are genuinely interested in what customers and brokers want. Relationships are between humans – AI can’t replicate that. When your customers have questions or concerns, we will actively listen to their needs and help you come up with the best outcome for them. And you will be able to achieve these outcomes for your customers by accessing all our home lending team. You can contact us directly to find the right outcomes for your customers.
We also look to make the loan process easier for you and your customers. When we design products, services or features, we will innovate and collaborate to create easy to use solutions. Many of the current features that make our loan products easy and quick to use and enable very quick turnaround times came about through ongoing feedback loops with brokers and customers.
We can then help you and your customers make the right choices for them and their money. The better we know each other, the more able we are to get it right for your clients. By being a true local Tasmanian based bank, MyState believes in getting to know one another. And we do this by being with you for the entire journey, from local loan assessment to client on-boarding, and ongoing customer service.
Our broker relationships are important, as we’re a broker-led bank, with over 80 per cent of our home loans coming from brokers. Our responsiveness with product and policy, swifter decision making, personalised service, and embracing a ‘find a way’ attitude, are the basis of our partnership with you.
By following this approach, we are making our brokers’ experience with customers simpler and more seamless. And we do this by providing some of the most competitive home loan and deposit rates in the country.
As you can see, ‘The Human Way to Bank’ makes it easier for you to assist your customers to make the dream of home ownership possible during volatile times.
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