Over 1,000 brokers can now offer lender's loan products
More than 1,000 brokers from aggregators Specialist Finance Group and outsource Financial now have access to Bendigo Bank loan products after the broker networks were added to the bank’s new digital lending platform.
Announcing the significant milestone for Bendigo Bank’s innovative new platform, Bendigo Bank chief customer officer for consumer banking Richard Fennell (pictured above left) said Bendigo Bank Broker had been a success with brokers from Finsure and the next step was to get more aggregators on board.
“We are very encouraged by what we have seen in the first phase of the rollout, receiving more than 450 applications since launch in late 2023, with a median time to initial credit decision in under six minutes,” Fennell said.
“The new platform, which will eventually be rolled out to our direct business, fast tracks our time to decision and delivers a competitive and seamless digital home loan experience for our customers and partners as we continue to leverage the Bendigo Bank brand in the broker market, as well as our reputation as Australia's most trusted bank.”
Bendigo Bank general manager of third-party banking Darren Kasehagen (pictured above second from left) said the onboarding of SFG and outsource Financial was just the beginning of a comprehensive broker rollout timeline.
“Now we have Finsure, Specialist Finance Group and outsource Financial all using our new digital lending platform, a rolling onboarding program has been set with our additional aggregators coming on board progressively over the coming months,” Kasehagen said.
“Once all our aggregators are onboarded more than 16,000 brokers will have access to Bendigo Bank Broker for their customers.
Kasehagen said Bendigo Bank Broker was designed “for brokers who want better”.
“We combine strong business relationships and enhanced digital processes to deliver a broker focused, service-driven platform for brokers across the country,” he said.
“We’re committed to being there for our brokers – so they can be there for their customers. We’re excited to have two more fantastic Australian aggregators and valued partners in outsource Financial and Specialist Finance Group now on board.”
outsource Financial, SFG excited about Bendigo Bank partnership
Tanya Sale (pictured above second from right), CEO of outsource Financial. said she was looking forward to offering products from Bendigo Bank.
“I have been extremely impressed with the level of care and planning that Bendigo Bank has put into this change over,” Sale said. “Their commitment to ensuring a seamless rollover, with minimal disruption to broker business operation and impact on active accreditations, is to be commended.”
“You can really see the thought and consideration, for brokers and aggregators alike, that has been invested in this project.”
SFG general manager Blake Buchanan (pictured above far right) said he was thrilled to unlock the efficiencies of the new platform and to be able to offer the Bendigo Bank brand through SFG’s network of brokers.
“We are always on the lookout for more efficient ways to do business so to have a partner like Bendigo Bank invest in this technology for the benefit of the broker channel is a wonderful step others will have to follow,” Buchanan said.
“Bendigo has a wonderful brand that has been sought after by brokers for many years, it is pleasing to now be able to offer consumers their products through our brokers. I congratulate Bendigo for their significant investment into the broker channel.”
Meanwhile, Bendigo Bank was listed as one of Australia’s most trusted organisations, according to the Roy Morgan trust rankings released for the December quarter. In the annual Roy Morgan Most Trusted Brands Awards, Bendigo Bank won the award for Australia's most trusted bank in 2022 and 2023.
Bendigo Bank also recently called on Australians to conduct home loan health checks, and introduced an inaugural Financial Inclusion Action Plan to guide the bank’s actions, activities, and investments until 2025.
What do you think of the expansion of Bendigo Bank Broker’s digital lending platform?
