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Jessica Darnbrough
Listening and reacting to broker feedback has helped one of Australia’s banks to significantly increase its conversion ratio.
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Speaking to The Adviser, ING DIRECT’s head of broker distribution Mark Woolnough said the lender had improved its conversion ratio by five per cent in the last few months, on the back off extensive broker feedback.
“We are constantly engaging with our broker partners in order to understand exactly what it is they want from us and lenders in general,” he said.
“We then look to actively implement this feedback into our processes. A few months ago brokers told us they wanted more constant interaction with their BDMs, so we introduced desk-bound support staff. Brokers tell us they want to be able to contact their BDM and know they will pick up the phone or return emails straight away and our desk-based BDMs do just that.
“Since we gave all of our broker partners access to their own credit assessor, we have seen our conversion rate go up by over five per cent and I think that is thanks to a combination of the bank listening to what brokers have to say, our assessors having a greater understanding of the application process, and a good team of sales and support staff.”
Mr Woolnough said ING DIRECT understood that to be the best and be a true lender of choice for brokers, it needed to deliver consistently good service and be clear on policy, product and pricing.
