Established banks are poised to lose more clients over FinTechs when open banking fully comes to play
A recent report provides insight and data on how brokers can help those upgrading their homes
- 2018 Commercial Lenders Roundtable
- Top 10 Brokerages 2018
- 2018 Brokers on Aggregators
Brokers share their tips on keeping their businesses strong in uncertain times
1st Street Financial
“The mortgage industry has had a major shake-up with the royal commission, and here are some tips to build your resilience: remember challenges aren’t disasters; be smart, accept change and look for other solutions, such as outsourcing support services or operating from a cloud-based platform; be positive and look at these changes as temporary and manageable; and come together and unite.
“During times of change, we need to focus on what we can control and work on building personal and professional resilience to help safeguard and grow our business.
If we embrace change and the challenges we are faced with, we will most likely see improved performance. The industry is doing a great job in showing a strong, united stance.”
Head of sales and training
Option Finance Australia
“Everyone in our industry has been facing many uncertainties and unexpected challenges that make them feel unsure about their future. We have worked harder than ever to think about coping strategies. Many broking firms start to realise the importance of diversification, so do we.
In today’s tough times and difficult situations, our team think positively and consider the moment a good opportunity to improve our professionalism and to serve our clients with a broader range of financial products.
“Option Finance Australia has not only focused on traditional mortgage lending; it has diversified into business, private and development finance, general and health insurance, personal loans, mortgage protection insurance, and vehicle and equipment finance, among others.”
“In our industry, now more than ever, resilience is the name of the game. My clients are where my focus and emphasis must be. My ongoing business success comes from my clients’ understanding of how I value our relationship and how I’m genuinely trying to improve their situation.I’m constantly trying to find ways to equip my clients with additional knowledge.
“I also keep up to date and educate myself about lenders’ policies and the industry, as these are invaluable requirements for business resilience these days. Policies are differentiating faster than ever, and we need to find the right fi t in a swift manner. Finally, be adaptive, goal-orientated, and take on challenges with a positive attitude.”