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Expanding the broker network gives non-bank a substantial boost to widen their market share and compete against major banks, according to 5 Star Non-Bank Awards 2021 recipient Liberty.
Liberty was one of the non-banks that received the highest ratings from more than 400 brokers across Australia. These brokers were asked to rate non-banks across nine criteria – their ability to communicate with brokers, training and development of brokers, BDM support, products and interest rates, commissions, credit policies, technology, and turn-around times.
“It’s always reaffirming to receive recognition from our business partners – and the 5-Star Non-Bank Award validates the diligent work of our BDMs, underwriters and settlements team,” said John Mohnacheff, group sales manager at Liberty.
“Knowing the award is based on direct feedback from brokers is something we’re incredibly proud of, and there is no greater testament to the value of our work.”
Mohnacheff said Liberty’s efforts to expand its broker network was able to help it widen its loan market share against major banks
“The partnership between brokers and non-banks has always been a fruitful one, because both groups understand just how vital it is for customers to have access to flexible options. As non-banks boost their market share, so too do brokers. Together, we can offer service and solutions that the majors simply can’t match,” he said.
Mohnacheff also believes that it has been a crucial commitment for Liberty to provide brokers with the much-needed support to help them give the best service to potential clients.
“While new-to-industry brokers may need extra training and development, others may be looking for a lender who can offer a flexible credit policy and faster turnarounds,” he said.
“We’ve taken the steps to ensure our BDMs are equipped to support brokers through any situation and ultimately achieve the best customer outcome. And, with more BDMs than most lenders, we’re able to provide a more personalised experience throughout the loan process.”
