Innovation is part of our DNA: Loan Market

Unique compliance measures, automated marketing solutions, Kaizen efficiencies and highly trained support units have earned Loan Market an industry innovation honour.

Since 1995, Loan Market has been breaking new ground in delivering solutions for brokers and their customers - producing the industry’s most productive teams in the process - earning it recognition in Australian Broker’s 5-Star Mortgage Innovators list.

And the aggregator’s track record in innovation extends beyond the home loan sector. This month, Loan Market announced a merger of asset finance operations with leading sector platform and training specialists, Nodifi. The merger enables Loan Market’s brokers access to a purpose-built asset finance platform for lodgements, referrals, and access to 80 sector specialists who can build brokers’ capabilities in vehicle and equipment finance, unsecured business lending and personal loans.???

“Customers demand quick, informed and premium solutions on their financial journeys,” said Loan Market Managing Director Andrea McNaughton.

“Tech plays a major role in how brokers operate and engage with their customers. But we’ve always held the belief that innovation should be viewed as ‘brokers and tech’ not ‘brokers or tech’.

“Since Loan Market was established by (Loan Market Group Executive Chairman) Sam White 27 years ago, we’ve always considered innovation as being part of our DNA.”

The Five-Star Mortgage Innovators list recognised Loan Market’s most recent additions for brokers:

Pre-approval Nurture Sequence: An extension of Loan Market’s automated marketing solution Stay in Touch, the email sequence helps pre-approved clients with their purchasing journey, saving brokers 50 minutes per client in time taken to write communications.

Optimised websites and loan calculator solutions: Across the network, Loan Market relaunched brokers’ websites. SEO-optimised, with personalised branding, websites integrate with MyCRM to automate the collection of contact data, Credit License Data and more. Nineteen customisable mortgage calculators were created for visibility, capitalising on the fact that? “mortgage calculator” and “repayment calculator” are the 1st and 3rd most Googled “mortgage” related queries in Australia.

Google My Business: Loan Market has made it easier for clients to provide feedback about their positive broker experience at various points in their finance journey. The innovation drove a 63.85% increase in Google My Business reviews for brokers, enhancing their visibility in their local marketplace.

BrokerForce: Loan Market’s capacity-creating loan support team helps brokers increase their productivity. The ‘in-sourced’ loan processing unit can provide dedicated specialists to brokers who become part of their brokerage (BrokerForce Total), or call on support on an ‘as-needed’ basis (BrokerForce Lite). Processors are trained in the Loan Market Way Blueprint, and follow BID-compliance measures and Kaizen-designed productivity processes. Participating brokers increased their productivity by 54%.

Kaizen: Loan Market has been an innovator in the mortgage broking industry by harnessing productivity for brokers utilising Kaizen principles, process engineering and Lean Six Sigma training. Loan Market’s Head of Business Improvement, Michael Zavelberg, is the only ‘Master Black Belt’ Kaizen practitioner within Australia’s broking industry. He has worked directly with brokers and their Client Service Managers (CSMs) to review their operations and uncover areas of duplication and steps that add nothing to the customer experience.