Platform includes instant pricing on loans
HSBC has signalled how much it values the broking channel when it comes to its home loans business, launching a new mortgage portal for brokers.
The HSBC Australia Mortgage Portal is aimed at providing brokers with instant pricing and easy access to information in one centralised location.
It provides a number of automated features for brokers including:
- an automated pricing tool
- enhanced access to product information;
- better portfolio management
HSBC Australia head of channels Christine Artin (pictured above) said the bank was committed to providing the best tools to enhance the experience for brokers and customers.
“With more Australians using a broker to secure their home loans, it's never been more important to help brokers achieve more in less time, and at HSBC we are here to help them,” Artin said.
“The Mortgage Portal platform provides direct and immediate access for brokers to everything they need to know about HSBC to service customers.
“This includes application tracking, a customer loan portfolio view, policy and process manuals including servicing and LVR calculators, a discretionary pricing tool and other key information like turnaround times.”
Automated pricing tool
Artin said the Mortgage Portal would provide brokers access to instant pricing decisions for new and existing loans with an ability to escalate if needed.
Instant pricing that is approved is sent straight to origination systems using application programming interface (API) technology.
Enhanced access to product information
The new platform provides easy access to important information, said Artin. This includes policies, procedures, products, calculators, and turnaround times all within a simplified layout along with enhanced search functionality.
Better portfolio management
Artin said brokers would get a clear view of all applications and settled loans through the Mortgage Portal.
Brokers can access a high-level overview of all active applications including information on loan and security information, rates, and status tracking.
For settled loans, they can also check details on products, interest rates, repayment amounts, frequency, and loan terms and can raise new pricing requests.
Broker feedback on the portal
“The feedback from brokers who have piloted Mortgage Portal over the last few months has been extremely positive,” Artin said. “They have called out how easy it is to find detailed client information and do pricing all within the same part of the platform.”
HSBC currently partners with aggregator groups AFG, Lendi Group, Mortgage Choice and Astute.
Artin said the Mortgage Portal was developed in partnership with a number of external parties and there was a considerable amount of broker research and inputs considered throughout the design and implementation process.
The creation of the portal was also driven by brokers.
“Brokers were telling us that there was a strong need for comprehensive information on applications and settled loans to be easily accessible and visible in one place,” Artin said.
”It was also clear having that information readily accessible through a digital solution was critical – which is what motivated us to develop Mortgage Portal.”
Importance of broker channel to HSBC
About 70% of HSBC’s home loan applications come through the broker channel, which is in line with the broader market, said Artin. “Our new Mortgage Portal is a key tool for brokers to service customers more efficiently and quickly.”
“The broker channel is very important to us, and we’re focused on servicing brokers to the best of our ability. The launch of our new Mortgage Portal is just one of the ways we are improving our service to brokers.”
Looking ahead to 2025, with the prospect of the Reserve Bank cutting the cast rate, Artin said the bank would continue focusing on the broker channel.
“We are seeking a healthy increase in our application volume throughout 2025.”
