CIF a great example of the value of diversity: FAST CEO

Increased diversity in gender, ethnicity, experience and thought is driving positive change and opportunities in the mortgage industry, said FAST CEO Brendan Wright at the aggregator’s annual Women in Business event in Sydney on Wednesday.

“By embracing diversity you can get different perspectives [involved] to solve problems in a complex and ambiguous environment, and we certainly are in that now,” he said.

One good example of how diversity can be leveraged for the common good is the Combined Industry Forum, he said.

The CIF is made up of lenders big and small, non-banks, bank-owned and independent aggregators, brokerages, associations and consumer advocacy groups, representing all corners of the third party market.

With the same aim of improving the sector, these groups have demonstrated that they can cooperate and collaborate despite disparate thoughts, opinions and interests. 

“I think it’s just an amazing example of what diversity brings. [The participants] have diverse businesses, diverse leadership and capability within those businesses, and they’re being leveraged with the good of the industry in mind and still ensuring that competition prevails,” Wright said.

While business leaders often fall into the trap of thinking they need to come up with all the answers themselves, it’s more important to have a diverse team “where you can rely on others … to contribute, challenge, seek the answers”, Wright said.

He encouraged brokers to consider the value that diversity brings to one’s business and how it can help them adapt and build sustainability for the future.