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The non-major bank has zeroed in on brokers in a new home lending growth plan, including the launch of new technology for the channel.
ME Bank has rolled out a new portal for brokers, featuring a new pricing tool that promises to provide an almost instant answer for most new applications requiring a tailored pricing solution.
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It will also provide a centralised place to access ME’s credit policy, credit assessment tool, forms, resources, pricing and other documents, and will continue to be updated with new features.
Kathy Cummings, ME general manager, broker, commented the bank is “keen” to build on its broker relationships, with the channel accounting for 75 per cent of its home loan originations.
“Home lending is a key area ME is investing in, known within the bank as the Home Buying Transformation Project,” she said.
“We consulted our broker partners who told us that ‘time is money’, and so we focussed our efforts on developing ME’s simple and secure portal, helping them to manage deals easier and faster.”
ME has also made other investments in changes, including digital signatures, comprehensive credit reporting and additional staffing – which the bank reported has resulted in slimmed turnarounds and loan decisioning times.
The recent purchase of ME by Bank of Queensland (BOQ) is also expected to give the bank a “wider network and deeper resources to invest back into services, technology and products”, Ms Cummings said.
“We’re really excited about the investment in our broker channel, through technology such as our new broker portal, ensuring our service is strong and maintaining our competitive pricing,” she said.
“These initiatives together with exciting enhancements still in the pipeline, will make it even easier to do business with ME in the coming years.”
ME Bank had its banking licence revoked in early March following the completion of its merger with BOQ. It is now operating under BOQ’s licence.
[Related: Lend welcomes new head of brokers & 3rd-party distribution]
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