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Jessica Darnbrough
ING DIRECT has today outlined its new broker distribution strategy, offering improved and tailored service to its network of brokers.
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ING DIRECT head of broker distribution Mark Woolnough said while the bank performed consistently well in terms of customer satisfaction, there was a disconnect between the positive experience had by the customer and the feedback the lender receives from its brokers.
The dip in ING DIRECT's service to brokers was highlighted in The Adviser's Third Party Banking Report Non-Majors 2011, with the lender slipping to third place.
In 2010, ING DIRECT led its peers by a significant margin, placing first in 11 of the 17 categories.
As part of the new drive to win broker support ING DIRECT is rolling out a raft of new broker focussed initiatives, including a Broker Partner Program, which partners a broker’s service requirements with the relevant ING DIRECT representative.
Business development managers will remain the face-to-face contact point for brokers which require a physical presence, however the sales and service teams have been bolstered with highly skilled office based relationship managers who will proactively assist with scenarios, application status’ and escalating deals in the pipeline.
In addition, ING DIRECT has strengthened its management team to deliver improved service to the network.
According to Mr Woolnough, the structure will be overseen by a strong and mostly newly appointed state management team, further customising the service proposition based on the needs of the state.
“We engaged with brokers to determine their service requirements, and we’ve now built a solid team to provide the level of service which our brokers require – based wholly on their feedback,” he said.
The bank spent the last year reviewing the broker service proposition and how its previous structure aligned with how and when a broker deals with ING DIRECT.
“Our new broker partner program will have a hugely positive impact on how we interact and communicate with our brokers and many are already seeing the benefits.
“In 2012, our priority will be delivering an excellent broker service proposition. I am sure this will result in an improvement on broker satisfaction levels and ultimately the customer experience of getting home loan with ING DIRECT.”
ING DIRECT is supporting the roll out of this program with a national broker roadshow.
