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Jessica Darnbrough
Westpac yesterday announced plans to launch a new package that will be exclusive to the third party distribution channel.
Speaking to The Adviser at yesterday’s Westpac Broker Roadshow, the lender’s general manager mortgage broker distribution Tony MacRae said Westpac was looking to strengthen its value proposition through the new product package.
While the details of the products are yet to be revealed, Mr MacRae said he was confident that the new package would help improve Westpac’s position in the broker space.
“We are working on introducing a package that is specific to the broker channel and we want to roll it out later in the year. It is just another way of showing how important this channel is to us and how committed we are to this channel moving forward,” he said.
Broker sentiment towards the major lender has been slipping for some time.
According to The Adviser’s 3rd annual Third Party Banking Report – Major Lenders, which is due out next month, sentiment towards Westpac has fallen every year for the past three years – something Mr MacRae readily acknowledges.
“We know we have work to do. We conduct our own survey with our own brokers each yearand the reason we seek feedback is so that we can act on it. We believe we have made improvements. We think were have stepped up our game in terms of service,” he said.
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