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ISCOVER
The building society and listed ADI established good ground with brokers in 2014
It has been 16 months since Wide Bay commenced transforming its third-party business. The central plank of the transformation was communicating to brokers about Wide Bay’s national reach and its extensive banking platform that services all Australians.
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Today, many within the broking fraternity are aware that our internet and mobile banking capabilities are powerful and that cash is accessed free of charge from a vast ATM network. he most significant wins, however, have been the relationships that have been built with individual brokers. These are testament to our approach, which is modelled on the values of high touch service.
So, how far have we progressed in our journey of transformation? I would say that we are 30 per cent of the way there since there is still a lot of ground that we are aiming to cover over the next 24 months.
We will deliver simpler processes; speed to ‘yes’; more innovative products; and exceptional credit support. We will have arrived at our destination when many more brokers tell us that they are receiving ‘knock your socks off’ service!
Presently, I receive much praise from brokers about their service experience with us. But I also receive feedback that our consistency of service delivery could be better. So my team is dedicated to solving that consistency factor. Please let me know your feedback directly–ring me on 0411 169 705.
As a smaller organisation, our core advantage is being able to create, adopt and execute more quickly than competitors. Wide Bay is not burdened by bureaucracy or saddled with layers and layers of management roles. We have no desire to look like or feel like a big bank. We love the intimacy that comes with closer, warmer, genuine relationships with our brokers.
The third-party team continues to grow. We have just welcomed another new broker loan consultant (BLC) and I anticipate further expansion through the year. Our BLCs run relationships with brokers around the country. They are accessible and available whenever our brokers require them.
In early 2015, we will implement our new loan origination engine to simplify the application input and supporting documentation process.
Currently, we are spec-ing the system, with ‘speed to yes’ the key driver. I am very pleased with our product set because it caters to your requirements. We are proud to promote our flexible fixed-rate loan with 100 per cent offset, which is also available for construction.
Similarly, our special life-of-loan package discount offer is also market-leading. We will continue to innovate in the product space. Importantly, our BLCs are experts in credit policy and that means you will be given guidance – quickly – on how to structure a transaction so that it meets policy. Our aim is to help you place your quality transactions quickly so that you can move on to the next ones.
Many of our brokers appreciate and value our ‘no channel conflict’ culture. Rest assured, when you place your clients with us they will not be ‘stolen’ by proprietary or alternative channels. We value your client relationships and will do everything possible to reinforce them.
These are exciting times for Wide Bay as we activate more new broker relationships in Sydney, Melbourne, Brisbane, Perth, Adelaide and the major regional cities and towns.
Thank you for supporting us through this journey. If you have yet to place a transaction with us, I invite you to do so – and thereafter to share your experience with me. I look forward to that!
Charlton Nevis is the general manager of third party at Wide Bay Australia.
