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Jessica Darnbrough
One of Australia’s non-major banks has taken it upon themselves to single-handedly improve broker conversion ratios and turnaround times.
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Speaking to The Adviser, Citibank’s head of broker distribution Aaron Milburn said the lender had recently kick-started a series of educational workshops around the country that allow brokers to liaise with Citibank credit support staff and learn how to submit clean deals first time, every time.
“The road shows came about after extensive consultation with brokers,” Mr Milburn said.
“Brokers kept telling me that they would like to deal with Citibank, if they knew our back-end processes, supporting departments and staff; and got a better understanding of information required to ensure deals were processed faster. A number of brokers haven’t written with us for a while and, as such, needed a refresher on their knowledge on our policies, documentation requirements and processes."
These road shows give brokers unlimited access to Citibank’s state managers, BDMs and support teams.
"They can ask questions and learn the best ways to package and submit deals," he said.
Mr Milburn said he was hopeful the road shows would help not only improve broker conversion rates and turnaround times, but deliver an enjoyable experience for both brokers and their clients.
“The feedback has been very encouraging so far. We have already had hundreds of brokers register their interest in the road shows and, as such, have had to add more road shows in NSW, WA and QLD," he said.
Mr Milburn said brokers were not the only ones responding positively to the courses.
“The MFAA not only recognises what we are trying to do, but fully supports it as well, which is really pleasing. For all those brokers participating in the training program, they will be awarded 2 CPD points."
