Providing confidence and transparency through technology
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Developing a new broker portal is just one step in Macquarie Bank's ongoing journey to create a leading digital experience for brokers
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TECHNOLOGY HAS been important for a long time, but the COVID-19 pandemic forced the broking industry to speed up the introduction of new tools and processes that would allow a completely digital process.
Understanding the importance of being able to do things digitally when many had to move to remote ways of working, Macquarie Bank has been listening to brokers’ needs and working hard to expand its suite of digital tools to make doing business even easier.
“We’ve been hard at work over the last 12 months, listening to feedback from brokers and implementing a range of digital enhancements to continue supporting them and their businesses,” says Wendy Brown, head of broker distribution.
“During a time when so many moved to remote ways of working, we knew it was more important than ever to continue communicating with our broker partners to provide the service and support they needed during such an unprecedented period.”
Among its improvements, Macquarie worked on digital enhancements to its application process to make things simpler and faster. Eligible clients and brokers can now sign the National Mortgage Form electronically via DocuSign, and Macquarie’s updated VOI policy allows video calls between brokers and clients for identification purposes.
As a committed partner to the Australian broker industry for more than 25 years, Macquarie Bank understands and appreciates the value a broker brings to its clients. With an award-winning suite of products and an industry-leading digital offering, Macquarie is focused on delivering exceptional experiences for its broker partners and their clients.
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“We really focused on listening to what brokers valued and the things they needed in a portal that would make it easier to access information they rely on”
WENDY BROWN,
MACQUARIE
Brokers will also benefit from increased accessibility of information, such as online credit policy guidelines; new and improved backchannel messages; and state-aligned broker support teams providing timely and ongoing support.
“These digital tools complemented the suite of existing digital solutions we had in place prior to COVID-19. DocuSign, ZipID and free up front CCR reports, and valuations were embraced like never before and helped us to provide even more confidence and convenience for our broker partners during this time,” Brown says.
Listening to brokers to deliver best-in-market technology
One of the bank’s newest achievements is its broker portal. Alongside this is its Broker Help Centre, a dedicated website featuring brokers’ most commonly asked questions and answers, which is designed to support them when using Macquarie’s products and platform on a day-to-day basis.
This is an evolution of the bank's Client Help Centre, an online tool to provide clients with fast answers to their questions over the life of the loan.
Launching a broker portal was an important next step in Macquarie’s digital journey and a natural extension of the first-
class service it already offers, Brown says. She adds that she is “really excited for the way it will support brokers in delivering great outcomes for their clients”.
“We wanted to deliver a portal experience that was one of the best in market, so we really focused on listening to what brokers valued and the things they needed in a portal that would make it easier to access information they rely on to do business every day,” she says.
“It was important to us to ensure we were delivering something that would empower them to provide a great experience to their clients. We’re already known for our leading digital banking experience, so it was important for us to develop a portal that was just as good.”
The broker portal allows brokers to track their clients’ applications in real time and to view all applications in list view and get a quick view of those that require action.
The 'existing clients' function allows brokers to continue providing great client service after an application settles. Brokers can easily search existing clients by name or account number, and easily view information such as loan structure, limit, interest rate, remaining loan term, repayment type and more.
Brown says the features in the broker portal are important as they allow brokers to provide certainty to their clients throughout the application process.
“We want to give both brokers and clients an industry-leading experience when it comes to the home loan journey, and things like consistency and transparency are at the forefront,” she says.
“For us that means knowing and understanding the needs of both brokers and their clients and delivering digital solutions that meet these needs. It’s also about listening and actioning feedback, all with the aim of making it easier to do business with us while adapting to the environment around us.”
An ongoing focus on creating transparency through technology
“It’s about giving brokers confidence and transparency because it not only makes it easier to do business with us but provides great outcomes for their clients”
Wendy Brown,
Macquarie
As a digitally led bank, Macquarie's future is in highly personalised technology that will help customers more intuitively manage their money, Brown says. Well positioned to capitalise on both innovation and digitisation driving rapid change in the industry, Macquarie intends to continue to deliver a highly competitive home loan experience that resonates with brokers and their clients.
“We’ve made significant investments in our technology and platforms over recent years to transform the approval process and deliver market-leading turnaround times,” Brown adds.
“It’s about giving brokers confidence and transparency because it not only makes it easier to do business with us but provides great outcomes for their clients.”
Despite face-to-face meetings and a sense of normality resuming, Macquarie is continuing to work on releasing new features for the broking industry, like its 'documents received' feature which gives brokers more transparency on the status of documents they have sent in with a live application.
An ongoing focus on creating transparency through technology
“We’re excited to have launched our own broker portal, but this journey has really just begun. With the great feedback brokers give us, we’ll continue to work together to ensure the portal is always evolving and delivering what they need most,” says Brown, encouraging brokers to stay up to date with the bank’s communications as it continues to release more exciting features.
“We’re extremely thankful for the support brokers have shown us over the last 12 months, and we’re excited for the next few years ahead, working together to deliver exceptional outcomes for clients.”
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“We wanted to deliver a portal experience that was one of the best in market, so we really focused on listening to what brokers valued and the things they needed in a portal that would make it easier to access information they rely on to do business every day,” she says.
“It was important to us to ensure we were delivering something that would empower them to provide a great experience to their clients. We’re already known for our leading digital banking experience, so it was important for us to develop a portal that was just as good.”
The broker portal allows brokers to track their clients’ applications in real time and to view all applications in list view and get a quick view of those that require action.
The 'existing clients' function allows brokers to continue providing great client service after an application settles. Brokers can easily search existing clients by name or account number, and easily view information such as loan structure, limit, interest rate, remaining loan term, repayment type and more.
Brown says the features in the broker portal are important as they allow brokers to provide certainty to their clients throughout the application process.
“We want to give both brokers and clients an industry-leading experience when it comes to the home loan journey, and things like consistency and transparency are at the forefront,” she says.
“For us that means knowing and understanding the needs of both brokers and their clients and delivering digital solutions that meet these needs. It’s also about listening and actioning feedback, all with the aim of making it easier to do business with us while adapting to the environment around us.”
Brown says the features in the broker portal are important as they allow brokers to provide certainty to their clients throughout the application process.
“We want to give both brokers and clients an industry-leading experience when it comes to the home loan journey, and things like consistency and transparency are at the forefront,” shesays.
“For us that means knowing and understanding the needs of both brokers and their clients and delivering digital solutions that meet these needs. It’s also about listening and actioning feedback, all with the aim of making it easier to do business with us while adapting to the environment around us.”
Copyright © 1996-2022 Key Media, Inc.
Companies
People
Newsletter
About us
Authors
Privacy Policy
Conditions of Use
Contact Us
RSS
“It’s about giving brokers confidence and transparency because it not only makes it easier to do business with us but provides great outcomes for their clients.”
Despite face-to-face meetings and a sense of normality resuming, Macquarie is continuing to work on releasing new features for the broking industry, like its 'documents received' feature which gives brokers more transparency on the status of documents they have sent in with a live application.
“We’re excited to have launched our own broker portal, but this journey has really just begun. With the great feedback brokers give us, we’ll continue to work together to ensure the portal is always evolving and delivering what they need most,” says Brown, encouraging brokers to stay up to date with the bank’s communications as it continues to release more exciting features.
“We’re extremely thankful for the support brokers have shown us over the last 12 months, and we’re excited for the next few years ahead, working together to deliver exceptional outcomes for clients.”
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