SocietyOne is the latest domestic lender to pour more resources and specialist staff into managing its interactions with brokers.
The digital personal finance provider has appointed former Westpac and MyState executive Tony MacRae as its new chief commercial officer.
In the new role MacRae will be responsible for overseeing SocietyOne’s effort to widen its broker distribution channel.
He will be supported by a new head of broker distribution - Tommy Lee - who until last month led Mortgage Choice’s operation in NSW.
SocietyOne yesterday launched a new online portal that it says will provide “quick quotes” on personal loan applications submitted by brokers.
A feature of the new portal is an expanded product suite that includes an option for borrowers to apply for secured loans of up to A$70,000.
SocietyOne entered the broker market in 2018 after joining the lending panel of Outsource Financial Group.
Westpac is another lender spruiking improvements to its mortgage broking platform following an overhaul last month of the way it conducts loan assessments.
The major bank is decentralising its loan assessment functions to give state based assessment teams more authority over approvals.
Following feedback from brokers the bank says that each home loan application is now being assessed by a single team member at each stage of the assessment process.
The bank implemented the change after receiving complaints from brokers that team-based assessments were contributing to delays.
Westpac has also promised to improve “transparency” of the estimates it gives brokers for service lead times on loan submissions.
“We’ve listened to your feedback and made some changes,” the bank told brokers in late June.
“The new Westpac Mortgage Operations team structure now offers you greater ownership of customer outcomes as well as helping us to build stronger relationships with our broker partners.”