ANZ sets up franchise network in Australia

ANZ Bank is in the process of setting up a mortgage selling franchise network in Australia.

Wednesday, April 7th 2004, 4:58PM

by Jenny Ruth

It has just appointed Steven Heavey to head its new division, ANZ Mortgage Solutions, to develop the network.

Heavey was formerly at Mortgage Choice where he was responsible for managing lender partnerships and the franchise distribution chain. (Australia’s Mortgage Choice is a completely separate company from the Mortgage Choice network in New Zealand.)

The bank aims to have 15 franchises operating in Melbourne, Sydney and Queensland by July 1 and wants to expand that to 175 franchises Australia-wide.

"Franchisees will sell ANZ mortgage products exclusively, operating within a defined geographic area. They will primarily generate new customers from their own referral networks and be supported by the ANZ Home Buyer’s Line enquiries," the bank said last week.

"ANZ will provide franchisees with a complete business system including training, technology, marketing and business support," it said.

"ANZ Mortgage Solutions is a unique approach to developing a specialist mobile mortgages sales network that gives ANZ a 24-hour, 7 day-a-week customer service proposition," says the banks director of mortgages Chris Cooper.

The new network will target non-ANZ customers with each franchisee operating as a small business owner, he says. They will be leveraging off "ANZ’s brand and award-winning mortgage products to introduce new lending business we would not normally see," Cooper says.

Cathy Wood, spokesperson for ANZ Bank in New Zealand, says the local bank has no plans to follow its parent company.

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