ANZ woos mortgage brokers with $300 service promise
ANZ Bank is making a special effort to attract business from mortgage brokers by offering to pay them $300 if they don’t get an answer on any loan application within 24 hours, as long as that loan is subsequently drawn down.
Friday, December 7th 2001, 9:55AM
by Jenny Ruth
"ANZ is committed to providing top quality service to both you and you customers," the bank says in its advice to brokers. "Our service proposition has substantially improved and we would like you to experience it." The $300 promise lasts until the end of the year.
Head of mortgage distribution Brian Robb says the bank has "upgraded our focus in this area," with measures that include having designated sales managers to deal with broker inquiries.
"We’re definitely keen on attracting more broker business," Robb says.
ANZ already has a customer charter which promises a 48 hour turn around on mortgage applications. "If we’re really serious about it, we have to look to raise the benchmark continuously."
Robb says the bank has substantially changed its processes "and how we interact in certain areas" to ensure it can meet the 24 hour-commitment and its internal target is substantially less than 24 hours.
So, how much has ANZ had to fork out on
the promise so far? "It’s too early to say, but we don’t
plan on paying off anybody," Robb says.
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