MPA 25.01

How brokers are steering mutuals forward INDUSTRY’S RISING STARS Meet Australia’s top young brokers

BANKS IN 2025 Macquarie Bank’s winning streak

Paul Wells and Ryan Harkness

ORDE Financial

CONNECT WITH US

Got a story or suggestion, or just want to find out some more information?

twitter.com/MPAMagazineAU

facebook.com/Mortgage ProfessionalAU

UPFRONT

02 Editorial

Democracy at work in the finance space

04 Statistics

Signs of a slowdown in the rental market

06 Opinion

Broker-tailored loyalty programs can be a great motivator

FEATURES

FEATURES MUTUAL BANKS AT THE TABLE

26 Brokers’ bank of choice

Customer-owned banks discuss the vital role they play in the sector, with the strong backing of brokers

Macquarie Bank on the secrets to its success as fourth-time winner of Brokers on Banks

SPECIAL REPORT

BROKERS ON BANKS 2025

Brokers’ ratings show this year’s best banks prioritise clarity, responsiveness and relationship-driven support

BIG INTERVIEW WILLIAM LOCKETT

For Specialist Finance

Group’s managing director, success is all about maintaining strong relationships and loving the job

54 Making dreams happen

Specialist lenders are coming to the rescue when borrowers face rejection

68 Tips for securing the best talent

An insider’s guide to gaining a competitive edge in recruitment

PEOPLE BUILT FOR BROKERS

ORDE Financial celebrates five years of rapid growth driven by an unwavering focus on brokers 30 SPECIAL REPORT RISING STARS IN BROKING

PEOPLE

70 Brokerage insight

It’s all about the community for Mortgage Choice franchise owner Belinda Sugars

72 Other life

Wisr head of broker Nicole Evans aligns her passion for fitness with her professional life

Australia’s top young brokers in 2025 are shaping a brighter future for borrowers

Our daily newsletter. Keep on top of property market trends, business strategy, and what industry leaders have to say.

Democracy is the best form of flattery

Whoever wins, we lose. So went the tagline of mediocre 2004 monster mashup Alien vs. Predator

While Australia’s impending federal election might not be quite as dire a binary decision, there is certainly a sense that priorities are lacking as our candidates make their pitches to the electorate.

LNP hopeful Peter Dutton has been trying his hardest to steer the political discourse deeper into US-flavoured culture wars territory with his chest-beating about Australia Day celebrations and the prevalence of the Aboriginal flag on Sydney’s iconic infrastructure.

Incumbent Labor leader Anthony Albanese, for his part, is out of step with the Australian electorate. Cowardly apolitical that I am, this is not necessarily my opinion but the sentiment expressed in voter polls on the matter.

Ultimately, Australian democracy will prevail as we head to the booths this year. Thankfully, as the lucky country, whoever wins, we’ll... probably be fine.

What, you ask, does any of this have to do with MPA? A clunky analogy it may be, but it brings us to the theme of our first edition of the year.

Like our esteemed political class, customer-owned banks must balance their fundamental business needs with the demands of their members

Customer-owned banks are the democratic institutions of the finance space. They are duty-bound to the priorities of their many thousands of customers, all of whom have skin in the game. Like our esteemed political class, customer-owned banks must balance their fundamental business needs with the demands of their members. Often, these dual mandates overlap, but not always.

Customer-owned banks must also fight for a competitive edge in the Aussie mortgage market, even at a time when long-overdue interest rate cuts are expected to drive up dealmaking activity as 2025 kicks up a notch.

This month’s MPA roundtable brought together Australia’s leading customer-owned banks to discuss these issues and the critical role brokers play.

Democracy also manifested itself in our latest Brokers on Banks survey, which steered one banking giant to its fourth gold medal in as many years. MPA caught up with Macquarie Bank’s head of broker sales, Wendy Brown, to hear the bank’s secret recipe for broker success.

True, democracy is the worst form of government, except for all the others, as Churchill famously said. Nonetheless, these awards are voted on by the brokers, for the brokers. It’s a laudable accomplishment.

William Farrington, editor, MPA

8437 4786 NZ ADVISER alex.knowles@keymedia.com T +64 9 200 1319

CANADIAN MORTGAGE PROFESSIONAL chris.anderson@keymedia.com

T +1 720-441-2255

MORTGAGE PROFESSIONAL AMERICA chris.anderson@keymedia.com

T +1 720-441-2255

MORTGAGE INTRODUCER (UK) matt.bond@keymedia.com T +44 203 868 3406

STATISTICS

RENTAL MARKET GROWTH SLOWS

$11.1trn

Combined value of residential real estate in December 2024

In the fourth quarter of 2024, national rents rose by 0.4%, capping o a year in which rents increased 4.8% – the smallest annual rise since early 2021, CoreLogic reports. This slowdown indicates that the peak of the recent rental boom has passed, as evidenced by the modest quarterly lift. A significant 26.3% surge in investor lending over the year also contributed to higher vacancy rates.

0.1%

33

Median days on the market over the three months to December

26,423

Number of new properties listed nationally over the 28 days to 22 December

Percentage decline in national home values over the December quarter Source: CoreLogic Monthly Housing

HOUSING TARGET SHORTFALL EMERGES

Australia is falling short of its housing targets, with a deficit of over 15,000 homes just three months into the 1.2 million home target set for 2029, ABS data shows. Only 44,884 homes were built in the September quarter against a quarterly need of 60,000. The NT shows the largest shortfall, achieving 78.6% fewer homes than its target.

AUSTRALIA'S HOUSING TARGETS VS COMPLETIONS

KEY STATS AS OF DECEMBER 2024

HOME APPROVAL TRENDS BY

STATE

In November 2024, dwelling approvals in WA and Qld rose by 18.1% and 7.3% respectively, while Vic, NSW, Tas and SA saw drops of 12.9%, 9.9%, 4.2% and 1.6%. Private house approvals fell in most states, except for a 4.3% rise in Qld, ABS data shows.

TOP SUBURBS DEFY MARKET TRENDS

In the past year, 10 Australian suburbs saw home prices surge by at least 40%, with Ardross in Perth leading at a 49.3% increase. This growth, according to Domain, defies the broader market slowdown and is concentrated in Qld and WA.

HIGHEST PROPERTY LISTINGS SINCE 2021

In 2024, new listings rose 7.9% year-on-year, marking the highest number since 2021 and, before that, since 2017, PropTrack reports. December saw a typical 50.6% seasonal drop in listings. Despite a month-on-month decrease of 11.9% in December, listings were up 5.7% overall.

The pivotal role of loyalty programs

Loyalty programs drive motivation and make customers and brokers feel appreciated, says

CommBank’s Baber Zaka

IN THE dynamic landscape of 2025, loyalty programs have evolved to become indispensable tools for businesses aiming to foster customer retention and satisfaction.

As the loyalty program market grows increasingly competitive, the importance of these programs cannot be overlooked. They help foster stronger relationships between companies and their customers, o ering loyal customers tangible rewards.

The evolution of loyalty programs has been rapid – from simple punch cards o ering a free co ee after your 10th purchase to sophisticated, data-driven systems that provide personalised rewards. Today’s programs leverage advanced technologies, including artificial intelligence and data analytics, to understand customer preferences and behaviours better. Businesses can tailor their o erings, ensuring the rewards are both relevant and appealing.

One of the most significant benefits of loyalty programs is their ability to enhance customer retention. Loyalty programs create a sense of commitment, encouraging customers to remain with a brand in exchange for rewards. This loyalty is not just about repeat purchases; it extends to brand advocacy, where satisfied customers become ambassadors, spreading positive word of mouth and attracting new clientele.

Loyalty programs also provide valuable insights into customer behaviour. By analysing data from these programs, businesses can identify trends, preferences and pain points. This information is crucial for refining marketing strategies, improving products and services and creating more e ective customer-engagement methods. In 2025, the integration of digital wallets

and mobile apps into loyalty programs has become standard. Customers can now access their rewards, track their points and receive personalised o ers directly on their smartphones. This enhances the customer experience, making it easier for them to interact with the brand and redeem their rewards.

Additionally, the gamification of loyalty programs has gained popularity, adding an element of fun and competition that encourages continuous engagement.

These incentives not only acknowledge brokers’ contributions but also encourage them to continue their e orts to secure new clients and maintain high service standards.

Loyalty programs for mortgage brokers can be integrated with advanced data analytics to tailor rewards based on individual broker quality and performance metrics. For example, brokers who consistently meet or exceed their quality targets could receive tiered rewards that grow progressively more valuable. This personalised approach ensures the most loyal and e ective brokers feel appreciated and motivated to maintain their high performance.

On the customer front, loyalty programs are immensely beneficial as they provide personalised rewards that cater to individual preferences and behaviours, enhancing the overall shopping experience. For example, CommBank customers who make more than five eligible transactions a month can gain access to the CommBank Yello program, which includes discounts, cashback and o ers. This program is designed to recognise active customers and

Banks can e ectively leverage tailored loyalty programs to foster stronger relationships and drive high performance among brokers

Looking specifically at the financial sector, loyalty programs have become a crucial component of customer-engagement strategies. At Commonwealth Bank, we’ve introduced our own recognition program that seeks to benefit our customers, as well as a new tiering system to support our brokers.

And we’re certainly not the only ones operating in this space. Banks can e ectively leverage broker-tailored loyalty programs to foster stronger relationships and drive high performance. By designing specialised reward systems that recognise and incentivise highquality brokers, banks can continue to work collaboratively with these professionals to help them achieve even greater success and deliver excellent customer outcomes. Rewards can include premium support; access to exclusive training programs; and enhanced support services such as credit o cers and coaches.

help them save on everyday purchases with personalised benefits.

The importance of loyalty programs for customers in 2025 is undeniable. These programs o er personalised rewards, enhance customer retention, provide valuable data insights, integrate seamlessly with digital platforms, promote sustainability, and significantly impact customer engagement, particularly in the financial sector.

As businesses continue to innovate and refine their loyalty strategies, these will undoubtedly play a pivotal role in shaping the future of customer relationships.

WILLIAM LOCKETT: BECOMING BIGGER, BETTER, STRONGER

Specialist Finance Group continues to be a dominant force in mortgage aggregation. For managing director William Lockett, it’s all about maintaining strong relationships, understanding members’ interests and loving the job

IT’S NEARLY impossible to interview William Lockett, managing director at mortgage aggregator Specialist Finance Group, without commenting on his insatiable travel bug. This time, it’s no different.

Lockett spent the better part of January diligently updating his thousands of LinkedIn followers on his various Melbourne adventures, from early-morning jogs along the Yarra to taking in the Australian Open buzz. If you don’t follow Lockett on the socials, do yourself a favour!

But there was more than tennis and flat whites on Lockett’s agenda at the Open – he was there to meet as many SFG team members, broker members and business partners as he could cram into a few short weeks.

This speaks to his hands-on leadership style: he’s always on the move, actively engaging with the industry rather than staying behind a desk.

In Lockett’s words, his leadership style is, “Be present, engaged and constantly driving growth and innovation”.

Lockett is a people person who believes strong relationships are the foundation of building a successful business. It’s no surprise that he secured his fourth appearance on MPA’s Mortgage Global 100 list in 2024.

Love what you do

The key to recognition, says Lockett, is loving what you do. “And I’ve been loving what I do for over 34 years. Over that period of time, I’d like to think that I and our business model have gained business credibility and trust.”

It certainly helps that Lockett and SFG are heavily involved in advocacy matters in the

Payroll Tax Act 2007 underway, there is a glimmer of hope on the horizon.

A matter of pride

“I have a saying that ‘good compliance is good business’,” says Lockett. “The reality is, we operate in the financial services sector, so the more compliant we can be, the better off we are.”

“I’ve been loving what I do for over 34 years. Over that period of time, I’d like to think that I and our business model have gained business credibility and trust”

mortgage industry, which has naturally led to high visibility and respect among their peers.

Lockett came out swinging against the hugely controversial payroll tax matter that has emerged from Revenue NSW in recent years. The issue, which relates to state levies applied to commissions paid by aggregators to brokers, “is very concerning for our industry”, he says, “given the fact that we’ve been operating for 34 years, and it’s now just become an issue”.

It’s been “probably the most challenging thing in the last 12 months”, says Lockett, although with a parliamentary review of the

He maintains that the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry was “a big wake-up moment for our industry”, and while it may have resulted in a degree of regulatory overreach, in some respects “it probably needed to”.

“Since the royal commission, our industry has got bigger, better, stronger, and it’s more professional today than it’s ever been. Our industry should be proud of how we’ve dealt with it and all the compliances that have come post the royal commission.”

PROFILE

Name: William Lockett

Title: Managing director

Company: Specialist Finance Group (SFG)

Years in the industry: 34

Highlights of 2024:

• Industry-leading SFG National Conference and Awards in Victoria

• Opening of SFG Queensland office

• Record settlement volumes

BIG INTERVIEW

Lockett highlights that complaints against mortgage brokers have hit record lows since the royal commission. “It should be something that we are very, very proud of. The compliance is certainly working, and we’re heading in the right direction, and we should all be very proud.”

He emphasises that true success in challenging times is impossible to achieve in isolation. “You need to listen, and you need to collaborate with people, because it’s a team thing … Having that maturity in dealing with people teaches you to deal with things better.

“You’re always evolving. One of the great things that we do is we maintain very, very clear and precise communications with people. You treat people with good respect and dignity, and you create empathy. So I suppose

from them about what they need to grow their business model.

“Everyone’s di erent. Some people just want to be a one- or two-man band. Some people want to be five or six. Some don’t want to grow any more, whereas some people want to open the gates, and they want to grow from an expeditious point of view.”

No two business models for SFG members are the same, Lockett adds, “and we accommodate our service model with that”.

“We think the engagement side keeps us on track not only with our growth but also, more importantly, our members’ growth.”

While every relationship, business or personal, has its highs and lows, Lockett believes it’s the tough moments that truly test the strength of the bonds we build.

“Our goal is to be a better aggregator today than we were yesterday. It is also to look forward and plan, invest and innovate so that we are also a better aggregator in the future”

if you combine all of those things, it doesn’t always work, but it gives you a great opportunity to be able to lead in the best way possible.”

Through thick and thin

Lockett’s people-first approach to business has been an invaluable tool in the aggregation space, where fostering relationships with finance brokers on one side and lenders on the other is critical.

“We don’t try to be too big. We have very much a relationship-based approach with all our SFG members, and we have great engagement,” he says.

Lockett explains that engagement with SFG’s members can be both micro and macro in nature, from large-scale, national conferences to more intimate, one-on-one business strategy sessions.

“Because our engagement with our members is a high-touch model, we get a lot of feedback

“Not every day is a sunny day – there are often cloudy days, and there are often stormy days. Keeping your true north on those cloudy days and stormy days is vital. If anything, that is the glue that sticks relationships together.”

Keep mortgage aggregation great

Discussing what comes next, Lockett says: “You can always run o a list. I have been there before and done that, but our goal is to be a better aggregator today than we were yesterday. It is also to look forward and plan, invest and innovate so that we are also a better aggregator in the future.

“We’re always looking for rooms to improve, but we’re looking for ways to improve that we know that we’re capable of doing, and we’re not trying to be something we are not or going outside our realistic zone. It’s knowing where our strengths are and knowing where we can

SFG ACHIEVEMENTS, KEY PLANS FOR 2025

Scaling up SFG’s national footprint and broker resources

Financially supporting SFG members’ growth

go by underpromising and overdelivering.

“So it’s quite simple – we just want to be the best aggregator possible. We strive for that on a daily basis.”

The twists and turns that the industry takes you on are all part of the journey, says Lockett. And for the industry as a whole? “If we all stick together, and if we all make our industry great – which it is – then we should all be proud of what we do.”

Home loans that tick all the right boxes for essential workers

We serve education, emergency services and health workers nationally in all Australian states and territories.

We’re one of a small number of banks participating in the Home Guarantee Scheme to help essential workers’ own their home sooner.

First home buyers annual fees are waived for the life of the loan with the Your Way Plus Home loan package.

Home loan fee waiver, making it easier to do business. Establishment fee waived until 30 June 2025. Saving your clients $600!*

Unlock benefits to thousands of essential workers in niche industry sectors. Become an accredited Teachers Mutual Bank Limited broker today to access four customer-owned industry banking divisions.

To find out more or to become accredited contact broker@tmbl.com.au or 1300 86 22 65

ON BANKS BROKERS ON BANKS 2025

As broker-driven lending reaches new heights, the best banks are delivering what matters most: better credit policy, faster approvals and stronger BDM support

THE RECORD-HIGH market share of Australia’s brokers reinforces their meaningful role in home lending, while also raising expectations for banks to enhance their services and o erings.

To sustain broker partnerships and tap into the burgeoning broker-driven market – which hit 74.6%, according to the MFAA’s September 2024 quarter data, reflecting a 3.1% increase from the same period in 2023 – leading lenders have prioritised operational and service excellence as well as digital innovation.

In MPA’s Brokers on Banks 2025 survey, brokers rated lenders they’ve worked with over the past year across 10 tried-and-true benchmarks. Over 250 respondents also shared their top product picks, tech improvements and the practices that set award-winning banks apart.

More importantly, the top-ranked mainstream lenders are listening and adapting to brokers’ evolving priorities.

This year’s data indicates a clear shift:

• Credit policy ranked first in 2025 with a 4.705 out of 5 rating, up from fifth last year, reflecting the need for clear, flexible, broker-friendly policies

• BDM support rose to second place (from fourth) as brokers sought more accessible, proactive support

• Turnaround times climbed to third place (previously sixth), pointing to demand for faster approvals

• Interest rates dropped to fourth place (from first), though competitiveness remains key (4.554 rating vs 4.214 in 2024)

• Online platform & services moved up to fifth place (from seventh), pointing to brokers’ need for seamless digital tools

For brokers, consistency and credit coach support now outweigh interest rates alone, particularly as lending

conditions tighten. The ability to have real-time access to credit decision-makers is invaluable.

“This is where banks with credit coaches stand out,” explains Indigo Finance managing director Melanie Cunli e. “Even a 15-minute conversation can help brokers structure an application e ectively. Sometimes, if a lender has a slightly higher interest rate, we’ll still prefer them if we know they’ll o er a smooth, reliable approval process rather than a submit-it-and-see approach.”

Specialist Finance Group general manager Blake Buchanan adds that lenders who deliver a high level of consistent service over time are the ones that earn brokers’ loyalty.

This year’s findings confirm that brokers value banks that prioritise clarity, responsiveness and relationship-driven support, key factors that ultimately influence where they choose to place business.

TYPICAL RESPONDENT

Writes $10m–$20m worth of mortgages each year

Aged between 46 and 55 Is most likely to live in NSW Has been in the industry for > 15 years

Years as a broker What do brokers want from banks?

BROKERS ON BANKS PRODUCTS AND PRICING

As interest rates fluctuate and lending bu ers tighten, bank credit policies have surged to become brokers’ top priority, with flexibility outranking product range

BROKERS ELEVATED credit policy to their top priority, and lenders that o er flexible, broker-friendly policies have gained a competitive advantage.

Bankwest continued its winning streak for credit policy. It nabbed first place for diversification opportunities and third for product range. Brokers also praised the bank’s ability to support a variety of clients with di erent needs: “They have an excellent credit policy for self-employed people, and credit sta want to do deals,” said one respondent.

Brokers rewarded Macquarie Bank’s

continuous policy improvements with a second-place finish, up from third last year.

As the only big four bank to lay claim to five categories, CommBank placed third for credit policy; communications, training and development; as well as online platform and services. It took second place for product range and diversification opportunities.

For aggregator SFG’s Blake Buchanan, the top-performing lenders take di erent paths regarding policy. “They might have a policy that they apply exceptionally well and want to be known for, such as SMSF,” he explains.

“These lenders understand that they cannot be all things to all people.”

Interest rates dropped o the top spot to fourth on the priorities list, yet they remained no less important than in 2024 (jumping from 4.214 out of 5 to 4.554) as rates remain high and lending bu ers tighten. Even as optimism abounds around anticipated rate cuts in early 2025, brokers have devoted time to clients’ stress levels. One said: “We are busier than ever as people turn their attention to making sure they are on the most suitable product/lender to conserve money”.

2025 HIGHLIGHTS: PRODUCTS AND PRICING

HAVE PRODUCT RANGES AND PRICING

ING emerged as the top performer for interest rates, earning broker praise for its proactive approach to pricing, and competitive products, while Macquarie Bank came in a close second. Bendigo and Adelaide Bank took third, with brokers citing its competitive fixed rates and white label o ering as valuable.

While MPA’s data suggests brokers generally see an improvement or stabilisation in product range over last year, the higher percentage of respondents reporting ‘no di erence’ to their sixth-place priority may indicate they are sensing less change in lenders’ o erings.

Buchanan notes that having a broad product range is essential. Still, he has observed that, ironically, lenders that take a wide-net approach to capture more market share often fall short of their goals.

“As an industry, most, if not all, categories are covered by various lenders, and most lenders are playing to their strengths,” he remarks. “I think brokers are right to place less importance on product range, primarily because they understand that lenders often fail in service, product quality or other aspects when they try to be all things to all people.”

For the fourth consecutive year, Macquarie Bank came out swinging, earning first place overall in 2025, picking up a 0.08% edge in broker satisfaction over the previous year.

The lender clinched the top spot in turnaround times again this year and saw first-place gains in product range, online platform and services, and brand trust. It also won a topthree spot for outstanding performance in

WHICH IS YOUR PREFERRED BANK?

every survey category, including second for BDM support; commission structure; communications, training and development; credit policy; and interest rates. It tied with Westpac for third place in diversification opportunities.

Brokers’ praise for Macquarie Bank included:

• “Service and rates are great; BDM is fantastic”

• “Interest rates, credit policy, and a process that’s easy for clients and brokers” .

BROKERS ON BANKS

BROKER SUPPORT

Communication and consistency take the lead over brand trust as lenders win broker loyalty with expert guidance

UNSURPRISINGLY, brokers’ preferences and priorities shift from year to year as they adapt to forces that put pressure on the economy and market environment.

In 2025, brand trust dropped dramatically, moving from a solid second place last year, trumped only by interest rates, to the seventh spot, with a corresponding decline in importance among brokers. This swing suggests that brokers are now placing less emphasis on lenders’ market positions and more on practical factors that positively impact their

clients, such as flexible credit policies and competitive rates.

This evolving priority points to a more client-focused approach in a rapidly changing market, as noted by one broker: “Generally, a lender recommendation comes down to who is o ering the lowest rate or su cient borrowing capacity to achieve the objective”.

Macquarie Bank rose to first place from third last year for brand trust, knocking Bankwest o its former top spot to third place. ING held second place for two years running.

Brokers appreciate a bank’s flexibility, strong support, e cient processes and good service, as evidenced by these comments on how the lending leaders in the broker support category are standing out:

• “Macquarie has brand awareness, and its speed to a decision is impressive”

• “ING o ers more competitive pricing, quick approvals and loan doc issuance”

• “Bankwest is easy to deal with”

• “CBA delivers consistency and support”

2025 HIGHLIGHTS: BACKING BROKERS

HAVE YOU GIVEN MORE BUSINESS TO A PARTICULAR BANK IN THE LAST 12 MONTHS, AND IF SO, WHY?

“ANZ because my clients have been mainly self-employed, and their one-year financial policy has been the standout”

“Macquarie, due to their process and customer experience. Their turnaround times are best in market, and clients often want a quick decision, over and above rate (most times)”

“Suncorp due to the package fee being waived and decent pricing discounts”

“NAB because of fast turnaround time and you can talk to assessors directly, which is important so we can o er fast solutions to customers”

“Westpac due to competitive pricing, Bankwest as they help with large investment portfolios, and Ubank because our BDM goes the extra mile every time”

“Macquarie due to their competitive pricing; clients are choosing them over other lenders. Their package fee is also cheaper than most lenders’, which, coupled with their competitive rates, means they are capturing more of the market”

For the fourth consecutive year, Bankwest held its first-place position for commission structure, while Macquarie Bank climbed to second place from third last year, and ANZ claimed third place, up from second position in 2024.

Bankwest climbed to the top spot for communications, training and development, after taking second place over the past two years. After claiming the top position last year, Macquarie Bank clocked a close second place, and CommBank hung on to third.

Brokers noted that they gave more business to Bankwest, Macquarie and CommBank for their flexible credit policies, competitive

YES NO

“No, I try to spread the love, but sometimes you have a run on lenders”

“70% of my business would be policy driven. ANZ has an FHB rebate, so they have some business from me there. Macquarie are a favourite”

“Generally, I’m looking for the path of least resistance, then rates and fees”

“It depends on the type of lending being done as it changes from month to month”

“Not intentionally. If I have stopped using a bank it’s due to their inability to compete with other lenders”

“First home buyer demand has increased, especially due to the unpredictability of rate variations and the shortage of supply, which has led to house prices becoming increasingly una ordable, complicating the process regardless of the bank’s o erings”

rates, quick turnaround times and strong BDM support.

Macquarie Bank is especially noted for its fast decision-making and ease of process, while brokers praised Bankwest for its selfemployed client support and flexibility. CommBank stood out for its policy flexibility and serviceability.

“Consistency is key here,” SFG’s Blake Buchanan explains. “Historical data shows that lenders with a high degree of consistent service over time trump all else. Specials, pricing and periodically improved SLAs tend to have a modest impact on market share results.”

Beyond consistency, communication is a recognised strength of top-performing lenders.

“It doesn’t always need to be great news either; lenders who communicate e ectively, good, bad or indi erent, don’t leave brokers wondering, and this is important, as brokers want to provide clear communication to their clients,” Buchanan adds.

When brokers perceive their experiences with lenders as negative, they pull no punches: “I haven’t stopped using any lenders completely,” one said. “However, I have reduced my business due to channel conflict and horrible application/assessment processes.”

BROKERS ON BANKS

TECHNOLOGY, TURNAROUND TIMES AND SERVICE

Speedy service and digital tools drive broker satisfaction and create deeper lender-broker connections

AN EVOLUTION towards a more relationship-driven broker-lender dynamic is underway, evidenced by the steady four-year climb in the importance of BDMs on brokers’ priority list.

This year, BDM support moved to second place – with a rating of 4.7 out of 5 – from fourth in 2024 and sixth the year prior. This significant rise indicates that brokers are placing more value on personalised support and relationships with banks’ BDMs.

Brokers noted that they are facing an increasingly complex and competitive environment, and BDMs who o er guidance and

problem-solving skills almost guarantee a smooth deal process.

SFG’s Blake Buchanan asserts that top lenders are more than just great communicators – they are empowering their BDM teams to work more closely with internal stakeholders to enhance client service.

“Great lenders understand that this is very much a relationship-based industry that requires BDMs who are present and responsive but also able to assist their brokers as representatives of the lender,” he adds.

For the third year, Bankwest clinched first place for BDM support, Macquarie Bank

retained its second spot, and ING emerged as the third-place winner.

Turnaround times shifted position on brokers’ priority list again in 2025, jumping to third place from sixth last year. This improvement suggests that speed is becoming an even more critical factor for brokers as they focus on providing clients with fast and e cient service, with speed to decision a di erentiator among the top lenders.

Brokers’ experience of turnaround times remains primarily positive, with this year showing an improvement in the overall perception of lenders’ performance in this

area. Fewer brokers reported worsening times, and those reporting ‘no di erence’ saw a noticeable jump to 33% from 20% last year.

The biggest factor pushing lenders into the winners’ circle is transparency, notes Indigo Finance’s Melanie Cunli e. Uncertainty makes it di cult to manage client expectations and adds work for broker teams on constant follow-ups. “If a lender has a five-day turnaround, that’s fine, as long as we know up front,” she says. “The challenge is when an SLA is listed as three or four days, but after submission it blows out unpredictably.”

Buchanan mentions that turnaround times have dominated lender discussions as they seek ways to improve submission and assessment e ciencies while enhancing the customer experience. “It’s no secret that in recent years a few standout lenders have delivered consistently impressive turnaround times for brokers,” he says. “These lenders have gained meaningful market share, and other lenders are looking to replicate or even improve on this to gain more share and the confidence of brokers when submitting loans on behalf of their clients.”

Macquarie Bank led the pack in this category, followed by ING, which climbed to second place from a tie for third last year, and Bankwest slipped to third from second.

Online platforms also moved to fifth on brokers’ priority list from seventh in 2024, with brokers consistently citing the value of digital tools and platform e ciency to

streamline workflows and better serve clients.

Cunli e notes that some lenders’ live chat support has been a major improvement and time-saver. “Another innovation is in postsettlement support,” she explains. “Some top banks have built portals that allow brokers to easily access client information post-settle-

ment. This helps immensely when conducting loan reviews, making the bank feel like a long-term partner rather than just a lender.”

Macquarie Bank knocked digital bank ING out of first place for its online platform and services, Bankwest cracked the second spot, and CommBank nailed a close third.

IS THERE A PARTICULAR TECHNOLOGICAL IMPROVEMENT THAT HAS IMPROVED TURNAROUND TIMES?

“Electronic/online identity verification and electronic signing of applications and loan documents (including mortgages) has made a huge di erence”

“Quickli has improved my personal turnaround times in assisting my clients, and I’m using SalesTrekker to lodge my applications seamlessly with AOL NextGen”

“It seems like lenders have updated their systems to improve the e ciency for credit assessment. I think the move away from needing to provide everyday banking accounts in a loan application has probably sped up the assessment process as much, if not more, than technological improvements”

YES NO

“I believe less volume of applications has helped with time frames”

“We are doing more, and the banks are o ering zero training. If we have an issue, we need to solve it ourselves”

“I have a deal in the system right now which they should have looked at on Monday, but I do not have an AIP as yet, and it is Wednesday today”

HAVE TURNAROUND TIMES IMPROVED OR WORSENED OVER THE LAST YEAR?

BROKERS ON BANKS

WHAT YOU’RE SAYING

2025 proved brokers’ ability to bounce back from a relentless and demanding lending market. Here’s what brokers had to say

THE DECLINE in inflation to 3.2% in December, along with the expected cut to the cash rate in early 2025, helped ease concerns among brokers about the impact on their businesses and clients’ financial wellbeing. But as more brokers face challenges with deals that fall outside the norm, lenders that instil confidence and show reliability capture a bigger share of the expanding third party channel.

Brokers are optimistic about the opportunities ahead:

• “Rates will eventually start to come down, which will relieve some pressure on

PRIZE QUESTION

mortgage owners and may increase capacity moving forward for new clients”

• “We’ve weathered the worst of the storm, and I’m still helping first-time buyers get into the property market, refinancing and bringing aboard new clients”

Channel conflict is still a major issue, but brokers’ views have shifted over the past year. Slightly more brokers now see it as a major problem, rising from 34% to 35%. Meanwhile, fewer brokers now see it as a minor issue (39% vs 45% in 2024), and 5% more brokers this year believe it’s not a problem at all,

highlighting a growing divide in perspectives. One broker, showing frustration at feeling their value was undermined, said, “I had to deal with a BDM when I stopped getting trail for one of my clients. It turned out they went into a branch for a small increase, and instead of referring them back to me, the branch processed the increase.”

Brokers are increasingly seeking strong, transparent relationships with lenders that can o er consistent support, clear communication and the flexibility to meet their clients’ unique needs. Lenders who can deliver this will build the trust needed for them both to thrive.

Whisky Wednesday:

“I am positive about the future expectation on interest rates and on business for the next two to three years. This is on the back of expecting the interest rates will be lower at least by mid-2025 that would usher in an era of more demand for homes, both owner-occupier and investor”

5 x VISA gift cards:

• “Not overly concerned. It seems like a matter of when, not if, the RBA starts cutting rates. I think 2025 o ers great opportunity for brokers. Rate cuts will further stimulate competition in the refinance space and bring more buyers into the market. I am confident my loan volumes will increase in 2025 compared to 2024”

•“The main impact that we anticipate to our business is lender price wars and cash rebates (refi rebate), which has significant clawback potential and is not ideal for the broker channel”

• “I am not worried. I’ve been in the finance industry for over 40 years; people adapt to their environment, and interest rates play only a small part in that environment”

• “Rates go up and rates go down. I am happy navigating any landscape we come across with my clients”

• “I’m happier now that fixed rates are beginning to reduce and that we have some stability in the market. If they come down, even better”

How worried are you about the present rate environment, and what impact do you expect it to have on your business?

HOW HAVE YOU FOUND BANKS’ ASSESSMENT OF LIVING EXPENSES OVER THE PAST 12 MONTHS?

“Assessment of expenses is fair, and the process of verifying has improved over the past 12 months”

“Living expenses are reasonable, as per each lender’s benchmark. Generally, the client is happy to use their actual living expenses”

“They have seemed to streamline a lot of the expenses into general living expenses instead of on top of HEM”

“No issues. Lenders are accepting declared living expenses if they are above HEM”

“Some lenders now categorise things like childcare, private health and strata fees under basic living expenses, which has been a good thing”

“HEM has increased disproportionate to actual spending. This is a bigger punishment for first-time buyers than interest rate increases”

“A nightmare. HEM, in principle, is sound, but in some instances, it’s nonsensical when a client’s salary increases into the ‘next band’”

“Overreaching and, in many cases, unrealistic”

“Increased, and more parameters put in place, making it harder to make exceptions”

“Somewhat harsher, as some banks have a benchmark for certain living expenses. And if that benchmark is not met, they will query an expense”

“The intense focus on living expenses has eased for the majority of lenders, making the process more manageable”

“Lenders have increased their benchmark, but this hasn’t really a ected how I operate, as I ensure I review clients’ living expenses to ensure we aren’t underquoting them”

HOW COULD LENDERS IMPROVE SUSTAINABLE/GREEN LOAN OPTIONS?

“Provide cashback incentives. Make it a simpler process. Every bank should have the green options available for brokers to write”

“Clients are not interested. There’s not a huge demand, and I’m not sure if they need a specific product”

“Make simple eligibility criteria. Currently, there are too many eligibility requirements imposed by lenders o ering such products that the majority of clients we deal with are not able to meet”

“I think they have come a long way and are in a great place as is”

“The green loans business is a farce. Improve on providing competitive interest rates and actually working with brokers and broker-initiated customers for a healthy long-term relationship, rather than encouraging churn”

DO YOU BELIEVE CHANNEL CONFLICT EXISTS?

HAVE YOU STOPPED USING A BANK IN THE LAST 12 MONTHS AND, IF SO, WHY?

“Lack of common-sense assessors”

“Not stop, but only use them as last resort”

“Yes, because of lack of BDM support, di culty in dealing with credit assessment, such as lack of credit assessors reading my detailed notes, raising unnecessary MIR requests. Some like to raise MIRs rather than approve files”

“Major banks because of higher interest rates as compared to second-tier lenders”

“There are several banks that I resist using as they are not supportive of brokers, in my opinion”

“Ubank because its technology only makes the process harder, and AMP Bank due to uncompetitive pricing currently”

“Heritage Bank’s assessment is just too hard. My clients pull the pin due to the onerous and continuous list of questions”

BROKERS ON BANKS

FINAL RESULTS

MPA presents the overall winners of the 2025 Brokers on Banks survey, spotlighting the areas in which these banks outperformed and why brokers preferred them over their competitors

MACQUARIE BANK

Position in 2024: 1st Position in 2023: 1st

For Macquarie Bank, four times is the charm as brokers thrust the significant player in the country’s investment banking and financial services industry into the top spot.

With an overall broker satisfaction rating of 3.93 out of 5, the leading lender is highly regarded for its innovation, unfailing service and support, and product range.

Across 10 categories evaluated by brokers, Macquarie Bank earned an impressive medal haul of four golds, five silvers and one bronze, significantly outperforming last year’s results.

The lender dominated in turnaround times for the fifth year. It also made a comeback and secured the crown for product range, online platform and services, and brand trust, making notable gains in each area. Brokers lauded the bank’s broker platform as “amazing” and noted it significantly contributed to streamlining the application process through to settlement. “They are by far the leaders here,” a broker commented.

The bank also picked up silvers for interest rates, credit policy, BDM support, commissions, and communication, training and development. It tied for bronze in the diversification category.

Macquarie Bank’s O set Home Loan Package was brokers’ top product pick for the second consecutive year. The bank was also brokers’ overwhelming favourite for property investors. Its strong standing among brokers is reinforced by its consistent performance, ranking in the top three across every key metric and outshining challengers with its commitment to the broker channel.

Macquarie Bank shines for its innovation, top-tier service and speed to decision, earning multiple golds and silvers while maintaining a dominant presence in the broker community

To generate the overall survey results, MPA took an average of the results across each category. Each category had an equal weighting in the final result.

Choose a better banking experience for your clients

Partnering with WA brokers to give Aussies greater choice when it comes to finding the right home loan.

Why partner with P&N Bank?

We listen. Efficient, smoother loan processing - thanks to your feedback.

Competitive rates for the life of your client’s loan.

Direct access to Broker Assessors from start to settlement.

BROKERS ON BANKS

Position in 2024: 2nd

Position in 2023: 2nd

Bankwest fought hard, nearly closing the gap to the top spot with just a slim margin of 0.193 points and securing a solid second-place finish.

The leading retail bank rivalled the first-place winner’s gold medal haul, taking top nods for credit policy, BDM support, communications, training and development, diversification opportunities, and commissions, for which it has been the undisputed champ for six years running.

Its triumph in policy and BDM support, categories defining the broker-lender relationship in a challenging and competitive environment, cements its commitment to building strong partnerships with brokers and delivering exceptional service.

Bankwest also claimed silver for its online platforms and services and bronze for turnaround times, product range and brand trust.

The Perth bank retained its second-place status as brokers’ preferred bank for property investors, while placing third for foreign non-residents. It slipped to sixth place from third last year as the favourite for first home buyers.

4th

BANKWEST ING

Position in 2024: 5th

Position in 2023: 6th

Digital bank ING has been on an upward trajectory in Brokers on Banks, advancing from sixth place into the top three leading banks within the past three years alone. A slim margin of 0.092 separated the formidable contender from second place, which, given its strong performance this year across four influential categories, could see its star continue to rise.

ING soared to the top spot for interest rates, earned silver for turnaround times and bronze for BDM support, while retaining silver for brand trust. The lender cracked brokers’ top product pick for its Orange Advantage product, lauded for its competitive interest rate, o set account, and fast turnaround times.

Brokers praised the breakout performer for its proactive approach to o ering competitive rates, products and loan deals amid a rising rate environment. Its e cient, client-focused application process enabled it to stand out from competitors, setting the stage for a new wave of competition among Australia’s legacy banks and emerging players.

COMMBANK WESTPAC

Position in 2024: 4th

Position

in 2023: 3rd

CommBank held steady at fourth place overall again this year, while bulking up its medal haul to win places in half of the 10 survey categories. The big four bank placed in three of four client niches as brokers’ preferred lender for first home buyers, foreign non-residents (second place) and property investors (third). It earned silver and bronze, respectively, for diversification opportunities and credit policy, and broke into the product range category, taking home a silver.

CommBank received an accolade as brokers’ top product pick for its MAV Package, which was cited as a solid product that makes loans simple, with quick turnaround times and excellent BDM support. And for its online platform and services, the bank’s bronze medal win is a testament to its enhancements despite underperforming in past years. Just 0.01% separated it from its silver-medal-winning sibling.

5th

Position in 2024: 11th

Position in 2023: 11th

As one of Australia’s oldest major banks, Westpac has made significant gains, ranking fifth overall in Brokers on Banks 2025. It placed 11th last year and has impressed brokers by elevating its performance across all evaluated metrics.

Westpac tied for bronze with top lender Macquarie Bank for diversification opportunities. Brokers also named it their preferred bank across three client types, with a first-place nod for foreign non-residents and third for commercial and first home buyers.

Many brokers said Westpac was a leader in providing the best loan deals, o ering “great rates, which are a win for clients”. Brokers have also given the bank more business in the past year for various reasons, including bridging loans to new clients, low variable rates and branch access, and the 1% servicing bu er for refinances.

BROKERS’ PICKS

As well as ranking the banks in 10 categories, brokers were asked to name their favourite mortgage products of the last 12 months. Here are the top three

MACQUARIE BANK

Offset Home Loan Package

Macquarie Bank and its ever-popular O set Home Loan Package retained the top spot in 2025 after seesawing in brokers’ top three since 2022.

Brokers emphasised the product’s flexibility, competitive pricing (though not necessarily the cheapest) and e cient service.

Its key strengths include multiple o shore accounts, quick turnaround times, simplicity, ease of use and low annual fees.

Other respondents appreciated “strong technology support” and “excellent BDM assistance”. Brokers highlighted the product’s comprehensive coverage, making it a solid choice for most client needs.

COMMBANK ING

MAV Package

CommBank’s MAV Package emerged in second place this year, garnering the coveted broker pick for the product’s simplicity, quick turnaround times and excellent BDM support.

Brokers praised the product’s flexibility in pricing and policy, including options for the home guarantee scheme and modular homes.

The MAV Package is known for its solid valuation process and strong policy, especially in areas such as negative gearing. It is considered particularly suitable for individual borrowers and company/trust ownership, with a smoother process than other lenders.

Orange Advantage

ING’s Orange Advantage product burst onto brokers’ list of top product picks this year in third place. The product stands out for being a well-rounded o ering for borrowers looking for competitive pricing, flexibility and simplicity.

Brokers praised it for its low rates, lower annual fees and the ability to reprice the home loan for retention.

An excellent interest rate with the added benefit of an o set account makes it competitive relative to other such products on the market.

“It meets clients’ requirements with good rates for principal and interest owner-occupied loans,” a broker commented. Another said, “It’s flexible, with fee-free credit card options, further enhancing its appeal.”

FOUR YEARS AND COUNTING AS BROKER BANK OF CHOICE

Macquarie Bank’s winning streak continues after clinching yet another No. 1 spot in the 2025 Brokers on Banks survey. MPA chats to head of broker sales

Wendy Brown to find out why

GOOD THINGS might come in threes, but when it comes to industry recognition, surely four is better. At least that’s how Wendy Brown, head of broker sales at Macquarie Bank, must be feeling.

Macquarie Bank clinched the number one spot in MPA’s Brokers on Banks survey for the fourth time running in 2025, an achievement that Brown calls “a great testament to the work our teams are doing ... this win is a vote of confidence for our whole team and especially resonates as it’s voted for by brokers”.

As she discusses the win with MPA, it becomes clear that the relationship Brown and Macquarie Bank have with brokers is particularly strong. Though, to be honest, the data speaks for itself – while 70% of home loans originate via the third party channel sector-wide, that number is closer to 90% for Macquarie Bank.

But not content to rest on their laurels, Brown and the Macquarie Bank team have spent the last 12 months refining their ‘always on’ approach to feedback to get to the heart of what brokers need. The manifold ways the team has achieved this include upfront valuations, digital ID verification and integrated liabilities matching, all of which serve to streamline the application process and speed up approvals.

This strong emphasis on understanding

what brokers truly want resulted in Macquarie Bank not only taking home the Brokers on Banks gold but also coming out on top across four survey categories, namely brand trust, online platform and services, product range and turnaround times.

Brown says: “We’re pleased to hear that the enhancements we’ve made to the broker and customer experience, including a range of new technology and features for brokers and their support staff, are being well received.

nent of the mortgage finance supply chain.

“We truly believe that the broker industry delivers positive outcomes for customers because of the depth of knowledge that a broker brings to the home loan journey,” she says. “There’s no doubt that a strong, vibrant broker industry benefits the home loan market – from increased competition to greater accessibility for homeowners.

“For customers, this means that regardless of where or how they live, brokers can provide

“There’s no doubt that a strong, vibrant broker industry benefits the home loan market – from increased competition to greater accessibility for homeowners”

“All of these categories tie back to our partnership approach with the broker market – any updates we make are made with brokers front of mind, and we look forward to working with our broker partners in the year ahead.”

Going for brokers

Brown clearly holds the broker channel in high esteem and sees it as a critical compo-

consumers with access to a broad range of products and services that best suit their specific needs. From a Macquarie perspective, by listening to broker feedback and acting on it, we continuously improve our offerings, which ultimately provides a better experience.”

When it comes to advocating for the value of brokers, the bank likes to make its voice heard. This, notes Brown, is particularly

PROFILE

Name: Wendy Brown

Title: Head of broker sales

Company: Macquarie Bank

Years in the industry: 25

What’s the best part about winning Brokers on Banks 2025? “This win is a vote of confidence for our whole team and especially resonates as it’s voted for by brokers”

EXPERT SPOTLIGHT

prevalent in Macquarie Bank’s ‘Speak to your broker’ advertising campaigns.

The simple things, too, like staying open for business over busy holiday seasons and making continual improvements to the broker portal, go a long way in fortifying the brokerlender relationship.

Brown says, “We have a strong feedback mechanism with brokers, and this has been instrumental to how we do business at Macquarie and our ability to innovate.

“We also use a range of data insights to gain a deeper understanding of our clients and brokers, delving into their needs and

into the market exciting new functionality that allows brokers and their support sta to securely upload additional documents directly to our assessment teams.

“This now means that brokers and their teams can keep track and manage applications through to settlement with total transparency all in the one location – the Macquarie Broker Portal.”

Eye on the prize

At the centre of everything Macquarie Bank does – whether leading the pack in broker technology, listening to and acting on broker

“As we look ahead to 2025, we’ll continue to strategically identify opportunities where we see that technology can drive the biggest impact and e ciency gains for brokers and their support sta ”

wants, so that we continue to be a true partner to the channel.”

Peace of mind

Technology is great, but instilling confidence in brokers that they are sharing sensitive information in a secure environment is a critical component of maintaining trust and credibility. Brown says this has been a key area of focus in developing Macquarie Bank’s broker portal. For instance, in the past year the bank introduced a real-time live chat platform with its assessment teams, as well as secure access to the broker portal for support sta so they can safely collaborate with brokers.

But the application that Brown is most proud of is Macquarie Authenticator, a sophisticated verification mobile application designed with the safety of brokers and customers in mind.

Brown teases more innovations in the pipeline. “We’re dedicated to continuing to innovate in this space and will be launching

feedback, or delivering market-leading turnaround times – is its commitment to making the bank the best of the best in the broker channel.

Clearly, this has not gone unrecognised, given the lender’s remarkable Brokers on Banks winning streak. Is win number five on the agenda?

In Brown’s view, Macquarie Bank will simply keep doing what it does best.

“As we look ahead to 2025, we’ll continue to strategically identify opportunities where we see that technology can drive the biggest impact and e ciency gains for brokers and their support sta .

“Our North Star this year is to continue driving e ciencies for brokers and their businesses by investing in cutting-edge technology to streamline the application process and speed up approvals with one-touch files.

“I’d like to thank all of our broker partners out there for their ongoing support and the time that they provide in sharing their valuable insights with our teams.”

MACQUARIE BANK FOCUS AREAS

Leaders in technology

• New technologies and experiences are coming to Macquarie Bank’s platforms to enhance the lender’s online platform and services for brokers, their support sta and ultimately their customers

Even faster approvals

• This year will see further investment in cutting-edge technology to streamline the application process and speed up approvals with one-touch les

Listening to feedback

• Macquarie Bank communicates with brokers regularly, listening to broker feedback and acting on it to continuously improve the bank’s o ering and provide a better experience

EXPERT SPOTLIGHT

BUILT FOR BROKERS, BACKED BY BROKERS

Non-bank lender ORDE Financial had a crystal-clear vision from the outset, built on substantial industry knowledge and experience. MPA caught up with founders

Paul

Wells and Ryan

Harkness

to look back on five years of hard graft

ORDE FINANCIAL is celebrating five years in the business. It’s hard to believe that in such a short space of time the non-bank lender has emerged as the powerhouse that it is.

Since launching in late 2020, ORDE has settled more than $6 billion in mortgages across Australia, helped over 10,000 Australian borrowers and grown to 150 team members across the country.

Managing directors Paul Wells and Ryan Harkness, chief executive and chief lending officer respectively, lead the business together and had a clear vision from the outset. They wanted to build a new major non-bank lender with a complete broker experience in mind, and to service all deal types, particularly those that other non-bank lenders often neglect.

Wells and Harkness shared some candid views with MPA when discussing ORDE’s first five years.

Sum of the parts

“When ORDE came to market, many brokers were fed up and wanted a better lending experience. Lenders weren’t responding, favouring their own interests and success – success built on the support of the very brokers they were taking for granted,” Wells told MPA Harkness added, “We focus on reliable approvals of complex deals that other lenders can’t or won’t support, delivered with really high service standards.” This ethos spans the full set of products ORDE has to offer. Looking back, Wells and Harkness said that

“our potential was clear to brokers from day one, when we launched the business with a highly flexible product range across residential, commercial and SMSF”.

No new lender, in their view, “has launched with that breadth already in hand. Since then, we’ve added construction, Prestige and are about to expand our interest-only range”.

It’s an undeniably bullish attitude, but they point to the solid growth in broker support, settlement volumes and team footprint to justify it.

“Our growth is really just the sum of lots of good individual experiences and successes leading to satisfied brokers,” Wells said, adding: “Our success is evidence that ORDE is delivering for brokers and the result of our ability to consistently provide an experience that secures their ongoing support.”

It’s not like the founders are lacking on the CV front. Harkness worked for nearly a decade at La Trobe Financial, one of Australia’s largest non-bank lenders. Before going on to create

ORDE KEY FACTS

ORDE, he was the firm’s chief operating officer.

Wells’ stint at La Trobe Financial lasted for closer to 12 years, during which time he acted variously as chief investment officer, head of funding and strategy, and chief financial officer.

This enviable range of experience gave them invaluable insights into how a leading nonbank works and can be improved, setting the stage for the genesis of ORDE in early 2020.

“We knew the ‘best of all’ combination required across product, service standards and culture,” said Wells. “The ORDE launch team had already delivered every product in our range throughout our many years of non-bank management experience.

“But we also believe that only by building a new business, ground up, with reset culture and operations, can a lender comprehensively maintain exceptional service standards at the higher volumes now received by large lenders.”

More than numbers

For ORDE’s managing directors, success is not

Proudly broker-only since day one Over 4,000 accredited brokers Zero to $6bn settlements in four years Full, flexible product range including resi-construction

‘One Lending Team’ of 100+ simplifying complex approvals

“When ORDE came to market, many brokers were fed up and wanted a better lending experience”

just measured in volume numbers. While the loan book has undeniably grown at a decent clip, there’s more that motivates them.

Wells said, “The key growth hasn’t so much been in asset levels, which have met our expectations, as in putting together and growing the very specific culture and skill sets across a large team – both when bringing in great talent and experience, as well as developing it internally.”

Harkness added, “Our growth has always been aligned to our determination to give brokers the experience they deserve, singularly focused on delivering the solutions and exceptional service that ORDE has now become known for at an ever-expanding scale.”

The centrepiece of ORDE’s business strategy, they said, is “to grow a culture centred on broker needs”.

“A real highlight has been seeing brokers, small and big, who are willing to try what we

offer, and often enough provide their generous recognition of our team. We get emails and responses all the time from brokers whose daily life is changing for the better.”

Overcoming challenges

While there is much to be proud of, no one can be fooled into believing that building a new business from the ground up is easy. At ORDE, “scaling and delivering a high-skills culture and team is hard to do, and it’s definitely the primary challenge we focus on”, said Wells. “And it would be impossible without a team wanting the same outcome.”

ORDE uses several cultural and operational frameworks to achieve this, including the ‘One Lending Team’ and ‘ORDE Broker Experience’.

ORDE’s One Lending Team is a highly integrated and aligned team spanning distribution, credit and settlements functions, who work to

benefit brokers and their customers. This unified vision of team culture, without silos, allows for the ORDE Broker Experience – the consistent delivery of end-to-end services and solutions aligned to broker-oriented outcomes.

Watch your attitude

“More fundamentally, you need to decide what your value proposition is,” said Wells. “From the beginning, ORDE based its relevance on what we could bring to, add to, or improve on brokers’ businesses, and perhaps add to the whole broking sector if we forced common improvements to standards.”

To adhere to this philosophy, ORDE doesn’t accept direct applications from borrowers at all – everything originates via the broker channel. To do otherwise would be “a conflict with our core business partners: brokers”.

ORDE’s broker-only approach, and standing start, has allowed the lender to build its offering with a razor-sharp focus. “Our attitude was: listen to what brokers want, understand what brokers want, and then build ORDE out to give them what they want,” said Wells.

“Distractions are plentiful with success; that road is well trodden. To us, it’s about management discipline.

“If we deliver on this fundamental orientation and focus for years, it may just give us the opportunity to be the best non-bank lender for brokers and their customers in Australia.”

ORDE currently partners with Australian mortgage brokers through top-tier aggregators and their subsidiaries, including Finsure, LMG, outsource Financial, SFG, YBR Aggregation, MoneyQuest and Nectar Mortgages, as well as dealing directly with credit licensees.

“Our distribution partners support our broker-first orientation and differentiated product position,” said Harkness. “We are focused on presenting ORDE to brokers across these partners. We also work with credit licensees outside of existing aggregators, and naturally, in time, we want to broaden that where it’s clear that brokers would like to deal with us.”

If ORDE truly is built for brokers, backed by brokers, it should be an easy sell.

IN A lush Cafe Sydney dining room overlooking the iconic Darling Harbour on a sunny February afternoon, MPA brought together six of Australia’s leading customerowned banks (COBs) and two brokerages for a deep dive into this unique part of the banking sector.

Joining MPA were leaders from some of Australia’s premier COBs, namely Gateway

Bank, Beyond Bank, Teachers Mutual Bank, P&N Bank, People First Bank and Bank Australia. Brokers from Waves Mortgage Brokers and Nectar Mortgages also took part to field questions and provide their insights into the state of the mortgage market.

The discussion ranged from attendees’ thoughts on impending interest rate cuts to how COBs manage to compete with the

CLOSE BROKER BONDS ESSENTIAL IN TIMES OF CHANGE

majors, what their members care about most in 2025, and how COBs are balancing these needs with the importance of turning a profit.

The roundtable came following a year of mixed performance in the mutual banking sector. While industry-wide operating profit was e ectively flat in 2024, lending growth outpaced the previous year, as did total

Customer-owned banks continue to fly the flag of dedication to their members amid large-scale consolidation, tough competition from the majors and a complex regulatory environment. Striking the balance is not always easy, but with technology and tight broker relationships, they look to the future with optimism and energy

deposits. Net interest margins (NIMs) also saw a notable improvement as higher interest rates took hold, although cost-to-income ratios trended in the wrong direction.

Two recently merged entities – People First Bank and Newcastle Greater Mutual Group – took the top position and second place respectively as the two largest COBs by total assets. This result provided the perfect

illustration of a sector in the throes of widespread consolidation, which provided further fuel for roundtable discussion.

Front and centre of every topic, though, was the critical role brokers play in driving the success of customer-owned banks. MPA heard how brokers are the driving force behind customer satisfaction, deal flow and even technological progress.

This was never more evident than when the roundtable participants were asked:

What role is the broker channel playing in securing market share growth in 2025?

Gemma Piscioneri, head of retail distribution at P&N Bank, kicked the discussion o : “Brokers are a crucial part of our

THE PANELLISTS

BROKERS

key driver for reaching underserved or niche customer segments, particularly first home buyers and refinancers.”

Darren McLeod, head of third party at Beyond Bank, explained that the lender has only been in the broker space for eight years, but within that time it has grown to more than 50% of Beyond’s business. “It’s a core part of our growth strategy,” he said.

“We’re prepared for the next flow of volume that will come with an interest rate reduction. We’ve been positioning ourselves for growth in 2025 to take advantage of a stronger market as confidence returns.

“The broker market has also helped Beyond expand into regions where we traditionally didn’t have a branch presence. We have branches across Australia, but in NSW and Victoria, where we had little presence, brokers have helped us penetrate those markets. They are now our strongest growth states, and we’re also seeing strong momentum in Queensland.”

Beyond Bank is also participating in the government’s First Home Guarantee scheme and is watching what happens with interest

multichannel approach, working seamlessly alongside our branches, mobile bankers, contact centres, virtual lending teams and digital platforms. This integration ensures we can meet our customers wherever they want, providing the flexibility and convenience they need to choose how they engage with us,” Piscioneri said.

“We operate in one of the most competitive channels in banking, and we know we must listen to our customers to remain relevant. Since the launch of our broker strategy some three years ago, P&N Group has delivered a range of improvements based on broker and customer feedback.”

Mark Middleton, head of third party distribution at Teachers Mutual Bank (TMBL), continued: “The broker channel remains crucial in driving growth, as brokers connect with a wide range of borrowers and play a key advisory role in the loan process.

“There will be underserved segments that brokers traditionally haven’t focused on. From

“Credit unions and customer-owned banks were formed by like-minded people who weren’t being served by the bank industry at the time. That ethos still holds true today” Darren McLeod, Beyond Bank

our perspective, we have many segments –whether that be the health sector or education – that we’ve catered to in the past, but I’m seeing more offerings being introduced by my competitors and the broader market. By strengthening relationships with brokers and providing transparent, consistent and competitive offerings, customer-owned banks such as TMBL will be looking to leverage the broker channel to attract customers who might otherwise go to larger banks.

“In 2025, TMBL is envisioning that our broker partnerships are expected to be a

rates. McLeod said, “The election will also have a big impact on how these products are positioned going forward.

“We’re keen to see how government policies evolve and how they enhance or change these products. So, hopefully they’ll do the right thing and we can take advantage of helping more people with a first home.”

Michael Sancilio, head of connected channels and partnerships at recently unified mutual People First Bank, added, “What we are starting to see in areas where we haven’t had a strong brand presence before is strong

Zeb Drummond Chief operating officer, Gateway Bank

John Leveque Regional manager, Bank Australia

Darren McLeod Head of third party, Beyond Bank

Mark Middleton Head of third party distribution, Teachers Mutual Bank

Gemma Piscioneri Head of retail distribution, P&N Bank

Michael Sancilio Head of connected channels and partnerships, People First Bank

Andrew Diamond Waves Mortgage Brokers

Justine McDonald Nectar Mortgages

YEAR IN REVIEW: 2024 HIGHLIGHTS

interest from brokers for an alternative product to really challenge the majors.”

Bank Australia’s John Leveque, regional manager for Victoria, SA, WA and Tasmania, said brokers “are an extremely important part of our business”. He highlighted that, per the latest statistics, nearly 75% of borrowers are seeking out brokers to help them with their loans; some estimates have

clock in at closer to 80% by the end of 2025.

“Over time, we’ve seen this trend increase, and it’s clear that that’s the customer’s choice. We embrace that,” Drummond said. “Brokers are our partners in delivering the best outcomes for customers, which will in turn be our members.

“What we do from a niche perspective [is] to help them tap into markets that perhaps

“Brokers are a crucial part of our multichannel approach, working seamlessly alongside our branches, mobile bankers, contact centres, virtual lending teams and digital platforms” Gemma Piscioneri, P&N Bank

this figure rising to 80% by the end of 2025.

“That said, at Bank Australia there are two ways to get a home loan – through a broker or online,” said Leveque. “You can’t apply through a branch. We find that a lot of customers that apply online tend to need help, and that’s where brokers can be a great help guiding our customers in the right direction.

“The role for our team then is to make sure that the brokers are provided all the support to ensure the right products and prices are put forward to our customers.

“As I said, customers who embark online may get through it halfway, then they want to speak to someone and they can’t, so this is why the broker channel is starting to expand and why it’s becoming more important to us.”

Gateway Bank’s chief operating officer, Zeb Drummond, said, “The broker channel is absolutely critical for us.” He explained that the bank’s third party channel far exceeds the market average, with 90% of all loans originating through brokers.

The latest MFAA statistics show that 74% is the current market average, although some industry experts expect that number to

previously haven’t been tapped where you know where perhaps the majors can’t play. For example, we cater to environmentally conscious customers who don’t want to feel as though there’s a third-party stakeholder in their loan being a shareholder of a big bank. That’s a key di erentiator for us.

“Listening to brokers is at the heart of our approach,” continued Drummond. “Our internal measure of broker satisfaction is ‘right first time’. Did we get it right the first time? Yes or no? Ninety-eight per cent of the time, the answer is yes.

“And that’s the stu we need to focus on: getting it right the first time and avoiding changes or moving the goalposts halfway through the transaction. Truly listening to brokers and responding to their needs is what will drive future growth. With brokers representing customers 74% of the time, that share is only going to grow.”

A running theme throughout the afternoon’s conversation was what impact the effects of monetary easing will have on the mortgage industry. At the time of the roundtable, odds were on the Reserve Bank of Australia opting to cut the cash rate by

25 LARGEST CUSTOMER-OWNED BANKS BY TOTAL ASSETS

25 basis points at the impending February call – a forecast that proved accurate.

The RBA had undoubtedly lagged behind its global Western counterparts prior to this long-awaited rate cut. Attention has since turned to where the RBA is heading next.

With that in mind, MPA asked the roundtable attendees:

A light at the end of the tunnel is emerging for interest rates and borrowing capacity. How is the customer-owned banking sector priming itself for an uptick in dealmaking volumes?

“I believe 2025 is undoubtedly going to be different to 2024, and there is a ray of hope for most borrowers and brokers,” said Middleton. “The rationale is that interest rates are most likely reducing in the first quarter of this year, which will create opportunities for brokers and, most importantly, their clients. Individuals will commence reassessing their

future financial needs before we start experiencing new opportunities.

Middleton said the 3% serviceability buffer has made it difficult for some borrowers to

according to the Housing Australia Trends and Insights Report. As the federal government proceeds with the share-equity scheme, it will be interesting to see how both the

“Brokers are our partners in delivering the best outcomes for customers, which will in turn be our members”

Zeb Drummond, Gateway Bank

refinance, but with decreasing interest rates, new opportunities will emerge. “Potential borrowers will also be reassessing their longterm financial goals that are likely to incorporate investment property opportunities as servicing improves,” he added.

Also on the policy front, Middleton noted that the federal government is seeking to expand the Housing Australia Home Guarantee Scheme options. “These schemes have already assisted circa 44,000 people,

financial and broker industries embrace the opportunity,” he said.

Everyone around the table agreed that the new wave of loan-origination and application software is critical to improving the ‘time to yes’ for customers, especially at a time when dealmaking volumes are set to improve.

No kickbacks here, but NextGen’s and Simpology’s settlement software platforms were routinely name-dropped by participants. Also apparent was the importance of robust

e-sign and digital verification capabilities.

But while these technologies undoubtedly make life easier for the broker channel, there needs to be a solid foundation of business principles to build them on. As Piscioneri

with humans. For us, broker value is about brokers being able to talk directly to underwriters so they can actually speak with the person making the decision on their deal.

“Our intent is to move quickly through that

“By strengthening relationships with brokers and providing transparent, consistent and competitive offerings, customer-owned banks such as TMBL will be looking to leverage the broker channel to attract customers who might otherwise go to larger banks”

Mark Middleton, Teachers Mutual Bank

said, “Our focus remains on getting the basics right. That means delivering standout customer experiences, increasing our lending product portfolio based on customer demand and broker feedback, delivering consistent turnaround times and continuing to build broker relationships.

“From faster and more consistent turnaround times, upfront valuation ordering, case management, the integration of web chat, [to] increasing the size of our BDM and support teams and giving our brokers access to speak directly with decision-makers, these initiatives all form part of our continuous improvement journey, and we are committed to investing in the channel in the months and years ahead.”

Piscioneri added that P&N speaks to around 100 brokers a month, “which has led to a 95% retention success rate”.

“From our perspective,” Drummond said, “we’ve been focusing on productivity – how we can tune productivity to better service what we anticipate will be a higher volume of home loan applications. We’ve invested heavily in technology and integrations to allow systems to do what systems do well and let people do what people do best – connect

process so that when discussing an application – whether it’s an approval or a decline –the broker can have a direct discussion with the underwriter responsible for their file.

There’s no handoff – it’s a single underwriter handling a single file the whole way through.”

Drummond also cited a strong focus on the escalation process. “Instead of having escalations when things aren’t going right, we have an escalation process for requests to decline. A loan won’t be declined at Gateway without going up through the ranks to assess the decline reason as opposed to going up just with mitigants to approve. This ensures we don’t have broker experiences where they feel we have moved those goalposts.”

McLeod explained that Beyond Bank has spent the past year and a half working with NextGen and First Mortgage Services to get its lending procedures battle-ready. He said, “We did a campaign last year that really tested our capabilities on service, and we still managed, even though we were writing record volumes, to maintain a consistent service level of three to four days during that rate campaign. In some cases, we were able to get our docs out within 24 hours.

“So we’re sort of primed and ready for whatever is going to happen because we’ve

CUSTOMER-OWNED BANKS

been doing that over the last 18 months.

“We’ve also upskilled our broker support team, so brokers get to deal with the same person from start to finish, so [there’s] file ownership,” McLeod added. “When a file comes in, they deal with the same support person until the application settles.

“And they’re state based, so brokers get to know not only their BDM but also their broker support team. For example, if you’re in NSW, you get to deal with someone in NSW – it’s the same people, so there’s that consistency. So yeah, we’re ready for whatever happens with rates this year.”

Bank Australia, too, has been fine-tuning the engine. Leveque said, “Similar to other customer-owned banks, we have updated our loan origination system. We’ve partnered with Cloudcase to enhance the experience for our customers and brokers, which leads to faster turnaround times. It also makes things more efficient for our lending team.

“We also know that trust remains important to consumers. Many prefer dealing with banks that exist for their customers and communities and not external shareholders.”

Sancilio said, “There’s a real sense of excitement about what this year will bring

for the broker market and for People First. For us, it’s very important to keep up the investment that we’re making to further improve our processes and our systems, to

we have the opportunity to really leverage the benefits of increased scale and efficiencies”.

“A key advantage we’ve developed is our people. We now have a number of BDMs

“We know that trust remains important to consumers. Many prefer dealing with banks that exist for their customers and communities and not external shareholders” John Leveque, Bank Australia

create a great customer experience that will drive our growth.

“By maintaining that investment in the end-to-end experience, to really focus on that, we can position ourselves as a clear alternative in the market. That will then increase how many applications we get through. We’re driving scale through a better experience, so that’s a really important element for us.”

Sancilio explained that People First is still building its technology systems following the People’s Choice and Heritage merger, “and while we’re navigating what that looks like,

across the country, all working toward the same objective, and we’re making great progress in transitioning toward our vision of the future,” Sancilio added.

Roundtable participants were then asked:

What competitive edge do customer-owned banks have for securing broker partnerships against the banking giants?

The common theme of the responses was undoubtedly the tight customer experience that the COBs can provide in contrast to

Surprisingly simple business refinance for

commercial brokers

Help clients refinance faster with ANZ Rapid Refinance, using just 12 months of repayment history.

Worth pointing out.

Request a call back.

CUSTOMER-OWNED BANKS

the majors, which are often hamstrung by onerous compliance procedures and excessive layers of middle management.

For Drummond, “it’s about focusing on niche strengths and celebrating the things that make us different”. While he acknowledged that Gateway isn’t the biggest brand in the market, “what we can do is leverage our strengths. We can move faster, adapt to technology; we can see something, hear something from the broker and adapt and change it”.

He continued: “You can change things really, really quickly in the mutual space; it doesn’t need to go through different departments and head office to make a difference and to make a change to the end member. So for me, the mutual space is critical to competition and good member outcomes, and I

“We all have a role to play to educate our customers and keep them safe, and P&N Group has implemented several initiatives as part of the Scam Safe Accord and will continue to invest in this critically important area”

Gemma Piscioneri, P&N Bank

think also just the demonstrable effect the mutual sector has on community engagement and a sense of belonging. You bond with your customer base. That can’t be replicated in the majors.”

This sense of belonging among members was also a common theme of the discussion, and it evidently stems from the unique organisational structures inherent in the mutual banking space. As Middleton said, “The key differentiator for customer-owned banks is our unique value proposition. Unlike the big banks, we don’t have competing pressures from shareholders, allowing us to focus entirely on member service. There’s no conflict between maximising dividends and delivering the best products and services –

we’re solely committed to our members.

“Secondly, there is no bonus. Well, I know I don’t get a bonus, so I’m sure that’s the case with a lot of other people here.”

Middleton added that with TMBL and the wider mutuals sector, brokers experience reduced channel conflict. He said, “Mutuals in general don’t have the bricks-and-mortar infrastructure nationally. Of course, there are strategically placed branches that support the communities that mutuals are involved in, which ultimately assist our members, whilst [they] also align and support our broker network. Realistically this results in brokers not competing against our proprietary channels.”

McLeod brought it all the way back to

the genesis of the mutual banking sector in Australia. “Credit unions and customerowned banks were formed by like-minded people who weren’t being served by the bank industry at the time,” he said.

“That ethos still holds true today. I think everyone would agree if a broker puts offers in front of the client and one of those offers happens to be from a customer-owned bank, they pretty much guarantee that they’re going to be getting the best level of service and treated like an individual.

“It goes back to the ethos of [how] all of it started many years ago – back to the question, ‘why customer-owned banks?’ There were people that got together and decided they weren’t getting what they wanted from the financial system and market, and that’s how we started.

“So, carrying on that now many years later, that’s still to me one of our main points of difference and why people use us.”

Sancilio added: “What we’ve demonstrated over the years – and for People First that goes back 150 years – is that as a mutual we genuinely care about our customers. It’s in the People First name and embedded in everything we do.

“We can leverage that, and as was touched on earlier, size also plays a role. As a bank

Strength in partnership

Scale your service offering with small business funding

Choose your involvement. Spot and refer or work with us directly on your clients application

Choice for SME clients. Fast, flexible funding solutions on one platform to easily manage cash flow

Attractive commissions. Earn an ongoing revenue stream from a single referral

CUSTOMER-OWNED BANKS

and as a sector, we are now big enough to make a real impact. However, we’re still small enough that we can evolve quickly where it makes sense, and that’s something we do focus on. We’re working with a lot of broker partners and technology partners so we can continue to improve.

on the type of customer service we deliver; it’s paramount as you can lose a customer as quickly as you win them.

“Our teams provide brokers with the support they need to make sure that the experience is great and the relationship is maintained.”

“There’s a real sense of excitement about what this year will bring for the broker market and for People First”

Michael Sancilio, People First Bank

“We may not have the massive budgets, but we deliver – that’s our commitment.”

Leveque said, “Customers like to feel like they’re part of something, and they want something different to the major banks. That’s our point of di erence. Being a customer-owned bank, it’s all about customer service. We put our customers and communities first. We also pride ourselves

At P&N Bank, Piscioneri said, “our customers are at the heart of everything we do. To support their financial journey, we’re committed to delivering more seamless and convenient banking experiences wherever people choose to bank with us.

“Our broker partners and their clients have enjoyed a simplified and streamlined experience through several process

improvements and policy changes, which resulted in broker satisfaction increasing significantly in the past 18 months.

“Our strategic investments have been prioritised towards service excellence and delivering improved experiences for brokers and their customers through more convenient, accessible and personalised products, services and communication channels.”

For Piscioneri, this includes investing in technology and process enhancements to help deepen P&N’s customer relationships.

The roundtable also heard from guest broker Justine McDonald, franchise owner at Nectar Mortgages. McDonald wanted to know:

How do customer-owned banks keep up with the budgets of the majors?

“It’s not easy,” said Sancilio. “But the important part is really making sure you invest what you have in the right areas. We’re focused on the customer and the broker. By investing in their experience, by pushing

3 YEARS

CUSTOMER-OWNED BANKS

forward with that, that enables us to compete with the majors. We know we can’t spend what they do, but I think we do a pretty good job of delivering satisfaction.”

Middleton added, “The majors have significantly larger budgets, but this aligns realistically to a larger customer base. They’ve got big budgets, but there’s also a lot of wastage in what they’re doing. I have worked in big banks. You do see some things that go on that don’t work out.”

He said TMBL is all about “getting the right outcome … But we’re also not the ones who are setting the way forward, so we’re looking at what’s happening at the market globally and we can see what has worked and what hasn’t worked. We can make decisions around where we do invest, but we can also leverage off what some of the other majors have done as well, which assists us in delivering at a reduced expense level”.

As an example, Middleton explained how TMBL leveraged off and implemented

KEY DIFFERENTIATORS OF THE MUTUALS

Source: KPMGMutualsIndustryReview2024

“There’s no clear, coordinated strategy to genuinely help people into homes. And we have to acknowledge that some of these [government] schemes will inevitably push up home prices. You can’t have it both ways”

Andrew Diamond, Waves Mortgage Brokers

CommBank’s NameCheck technology “to further protect our members from scams and mistaken payments”.

“Overall, mutuals often share this kind of information, which helps us achieve cost savings while enhancing our member services. This is just one example of how we’re working to reduce costs effectively.”

Drummond said Gateway’s entire organisation is designed around the principle of “doing more with less”.

He explained: “In terms of technology, it

means we don’t invest needlessly up front. Instead, we move quickly and experiment –we like to move quickly and break stuff. We try things, see if they work, and if they don’t, we scrap them quickly and move on.

“In larger organisations, people can get very invested in projects, but in mutual banking, where the staff is smaller, we have a closer, more intimate view of everything happening. We know what’s going on inside of our organisation, and very quickly, if something’s not working, we hear about it.

“We don’t have any deadwood projects or unproductive people sitting around. If it’s not productive or it’s not delivering value for us, our brokers and membership, it’s out.”

Piscioneri raised the point that “our customers and owners are one and the same, so there’s no conflict with shareholders”.

“We reinvest our profits to offer our customers competitive rates, innovative products and exceptional customer service,” she added.

Echoing Piscioneri, McLeod said: “While we are certainly not in a position to post profit figures north of $10 billion per annum, the advantage that we have as customerowned banks is that all of our profits are reinvested back into better services and offerings.

“We don’t have that tension that exists for listed banks where decisions have to be balanced between what is best for the customer versus what is best for the shareholder. All of our investment decisions are focused solely on the customer, and they benefit greatly from that. This is reflected in many of the annual customer satisfaction awards that exist in Australian banking, where you often see customer-owned banks in many of the top rankings.”

What was evident throughout the discussion was that this dedication to the customer, made possible thanks to the eschewal of shareholders, truly sets COBs apart from the pack.

This was also highlighted in KPMG’s Mutuals Industry Review 2024 report. According to the industry-wide survey, ‘personalised member service/experience’ ranked as the number one key differentiator for the COBs compared with the majors, as mentioned by 37% of respondents.

‘Mutual structure/ethical banking’ emerged as the second key differentiator, as cited by 19% of respondents, while 17% cited ‘community involvement’.

There is no doubt that these results speak to an industry favoured by customers who don’t get the personal touch, or the ethical decision-making, from the majors. Yet no company model is without its own challenges, and mutuals are no different. COBs have a

“Post-merger [of banks in the sector], it’s really important that brokers are brought up to speed with exactly what the new world looks like for the customer” Justine McDonald, Nectar Mortgages

difficult balance to strike; a dual mandate that traditional lenders are not beholden to.

This could be particularly challenging in the coming years. Per the KPMG report, 17% of respondents in the mutuals industry expect their future NIMs to decrease ‘strongly’, while 26% expect their NIMs to decrease ‘moderately’. On the bright side, nearly half of respondents expect cost efficiency to ‘improve’ over the next three years, while 11% expect a ‘strong’ improvement.

With that in mind, MPA asked the question:

Customer-owned banks are expected to balance the interests of their owners while sustaining healthy

operating margins. How are you striking this balance, and what do your customers care most about right now?

McLeod agreed that “it’s a delicate balance – finding the right level of profitability while returning value to our customers”.

“But it’s a good problem to have,” he continued. “The ‘returning value’ piece is what truly sets us apart from the majors. We don’t need to pay dividends to shareholders, which frees us to reinvest in our customers.

“We survey all of our customers, and our satisfaction rate is 92%. A key part of that survey asks what’s most important to them. The topics that come up most are security, simplicity, easy access and having someone to

talk to if they run into an issue. If customers have a problem with their banking or home loan, they want to be able to speak with someone who can help and knows what they’re talking about.”

McLeod highlighted that Beyond Bank has made heavy investments in its call centres, “ensuring they have the training and expertise to assist when needed”.

“While having the right product is crucial, customers also need someone who can provide help when they need it,” he said.

Leveque added, “Many customers come to us because we’re values-aligned. We survey our customers and know their four main impact areas are climate change, nature and biodiversity, First Nations recognition and respect, and affordable housing.

“We know that cost of living is becoming extremely difficult, especially for first home buyers. We’re a member of all the government schemes, aiming to help first home buyers, and look to ensure that we always offer our customers the best rate possible. It’s important to us, and we talk about these values often.”

Sancilio agreed that “it’s a really hard balance” when juggling member values and the bottom line. “But the key point is that as a mutual, when we look at our operating margins, we’re reinvesting those back into our customers, who are the ones driving change and evolution.

“For example, a crucial element for us is enabling customers to choose how they want to bank with us – whether in person, at a branch, through a call centre, via brokers or online. Our goal is to deliver a consistent, excellent experience across all those channels.

That’s what People First members are saying they want, said Sancilio. “And it’s how we shape our offerings. The balance is clear: we need sustainable profits, but the focus must always be on investing in what’s important to our customers.”

At Gateway Bank, striking the balance is “actually pretty simple because our purpose is ‘pocket and planet’ ”, said Drummond. “And that in itself is a balance. Our goal is to help

CUSTOMER-OWNED BANKS

Australians improve their financial situation while also supporting the planet.

“We aim to make going green more accessible, offering attractive interest rates to customers who are embarking on a green journey, whether they already have greenrated homes or assets.

“It doesn’t cost more to go green, and it shouldn’t cost more,” Drummond said. “Right now, consumers are focused on the cost of living, and we can help with that while also supporting their transition to more sustainable practices, without charging them a ‘green tax’ for doing something conscientious for the planet.”

Piscioneri set a conversation in motion after mentioning that “when it comes to what matters most to our customers, the top priority we’re seeing is scams, which are becoming increasingly sophisticated”.

Indeed, the KPMG Mutuals Industry Review 2024 survey revealed ‘information technology, including cyber risk’ as the most pressing industry risk, as cited by 40% of respondents (this was followed by ‘funding sourcing and margin management’ and ‘compliance and regulations’).

Piscioneri said, “We all have a role to play to educate our customers and keep them safe, and P&N Group has implemented several initiatives as part of the Scam Safe Accord and will continue to invest in this critically important area.

“While there is a greater level of understanding of scams within the community, we do foresee the potential for increased customer friction across the industry due to the need to implement additional precautions to prevent customers from being targeted. The challenge lies in implementing additional protections without creating friction for customers in their everyday banking.”

Cybersecurity is also a prevalent concern at TMBL, with Middleton saying, “That’s why we adopted the name-checking capability as a key deliverable. Every day we’ve witnessed reports of people being scammed, and as a consequence our members’ security is a top priority. It’s crucial that we continue working on this.”

“It doesn’t cost more to go green, and it shouldn’t cost more” Zeb Drummond, Gateway Bank

For Middleton, balancing member interests and profit margins “is achieved by focusing on efficiency, innovation and customer-centric policies. This is through investing in technology to reduce costs, enhancing digital services and maintaining a lean operating model; customer-owned banks can offer competitive pricing without compromising margins and the member experience that mutuals are known for”.

While TMBL still has branches around Australia, Middleton acknowledged that they are seeing fewer visitors, while some have even closed up completely. This has put a greater emphasis on improving accessibility and service quality, particularly through

digital platforms and broker networks.

“We’re improving online services, including phone support, where TMBL’s call centre is highly respected by our members in addition to recognised Australian industry awards,” said Middleton.

Waves Mortgages director Andrew Diamond came in swinging with a hot-button topic that’s been an ongoing issue at his brokerage. He asked the COBs:

From stamp duty exemptions to income thresholds, it’s becoming increasingly frustrating to see the misalignment of policies across both state and federal lines. What are you

doing to make it easier for first home buyers entering the market, and what are some specific changes the government needs to make to help them?

For his part, Diamond had more than a few thoughts of his own to get off his chest. “I’m happy to go on the record and say that I think

of the way these programs were structured on their books. It just wasn’t viable for them.”

Everyone around the table concurred that the various government schemes to get people into their first homes are simply too confusing and lack coherence across state lines.

McLeod recalled a recent conversation he

“What we’ve demonstrated over the years – and for People First that goes back 150 years – is that as a mutual we genuinely care about our customers. It’s in the People First name and embedded in everything we do” Michael Sancilio, People First Bank

governments are more interested in media releases than in genuinely helping people enter the market,” he said.

“Take income thresholds, for example. Why is there an income cap for first home buyers to access these schemes? The government gave teachers a 13% pay raise last year, which pushed many of them above the eligibility limit. Come June 30 this year, a whole group of people will no longer qualify for existing schemes.”

Stamp duty exemptions are another issue, said Diamond. “Why are we capping them at unrealistic thresholds? Why even have a threshold for first home buyers in the first place?

“There’s also a misalignment between federal and state governments when it comes to price caps and income thresholds. There’s no clear, coordinated strategy to genuinely help people into homes. And we have to acknowledge that some of these schemes will inevitably push up home prices. You can’t have it both ways.

“That said, there are things we can do better. The government needs to drive alignment across state and federal lines. I know of at least one lender that had to pull out of the market for first home buyer schemes because

had with a Housing Australia representative who pressed him on what he thought could be improved, when the issue of complexity arose.

McLeod said, “The Housing Australia schemes are a great initiative, and they have helped a lot of people, but they can be complex at times, given the variety of different programs on offer. That’s why so many first home buyers go to a broker – they need guidance.

“Customers would no doubt benefit if they were a little easier to navigate and more streamlined. Take the shared-equity scheme, for example. While it’s a great idea, it’s also incredibly complex, and for brokers, the compliance and paperwork are becoming overwhelming. We need to keep these initiatives in play so that we can help more people get into the market, but if they can be simplified for all involved, then everyone will benefit.”

Sancilio added, “Simplicity is the key, but having consistency across the different assistance schemes is also really important. At the moment, it’s not only difficult to understand what’s required; it’s also challenging to maintain compliance with so many different programs.

“People have made the point about extending loan terms – and that’s a good

Source: KPMGMutualsIndustryReview2024

discussion to have – but for me, the focus should be on consistency, to deliver a better outcome for the customer,” he said.

Regarding those loan terms, Middleton said: “The marketplace, which comprises both regulators and financial institutions, needs to be realistic about extending loan terms to improve serviceability. I believe this can occur through the consideration of extending loan terms to 40 years for potential niches such as essential service workers and first home buyers in particular. Realistically, how many home loans actually run the full 30 years?

“If we want to improve serviceability and affordability for first home buyers, we need to acknowledge that these buyers will be working beyond the current retirement age.

“If we truly want to assist these individuals with ongoing housing requirements, there needs to be a focus on the extension of loan terms, combined with equity schemes and other like programs that these segments can realistically financially service.

“The housing market today is not the same as when I purchased my first home. It’s very difficult for the younger generation.”

Echoing this sentiment, McDonald said, “I don’t even know why New South Wales has a first home owners grant anyway, because can you buy something for $600,000? They’re just unrealistic thresholds.”

The roundtable concluded with an open discussion about the state of merger activity in the mutuals sector. It remains a prevalent topic considering that two big-ticket mergers have been signed off in recent years.

There was, of course, the Heritage and People’s Choice merger that resulted in the establishment of People First Bank (represented at this roundtable by Sancilio) in November 2023. That same year, Greater Bank and Newcastle Permanent Building Society joined forces through a landmark merger to form Newcastle Greater Mutual Group.

But COB mergers have been going on for far longer than just a couple of years. Beyond Bank, for instance, has conducted 14 successful mergers since 1986, including

“It’s a delicate balance – finding the right level of profitability while returning value to our customers. But it’s a good problem to have” Darren McLeod, Beyond Bank

two in 2024. In fact, back in the 1970s, there were some 700 customer-owned institutions in Australia. Today that number is less than 60. That is an immense rate of consolidation that could potentially keep pushing on in the years ahead.

Looking again at KPMG’s 2024 survey, 26% of respondents said they were considering the possibility of a merger, up from just 19% the previous year. ‘Mergers’ was cited as the fourth-biggest priority for the next three years, behind ‘new members and market share growth’, ‘digital transformation’ and ‘maintaining profitable and sustainable growth’.

Certainly, there was consensus around the MPA table that more mergers are in store in a highly competitive environment, which will create opportunities for the smaller players to forge ties with the big fish to keep themselves on strong footings.

Could we therefore see a drastically different line-up at MPA’s next customer-owned banks roundtable? We have a year to find out.

A closing piece of broker-side advice from McDonald: “Post-merger, it’s really important that brokers are brought up to speed with exactly what the new world looks like for the customer.”

Partner with Bank Australia for a positive impact.

Recommending Bank Australia for your client’s home loan means the interest they pay will not be used to lend to harmful industries like fossil fuels, live animal exports, tobacco or nuclear weapons.

Clean money

Home loan interest payments support a bank committed to using money as a force for good.

Eco pause Pause repayments while you’re making green upgrades to your home.

Parental pause Catch your breath in the early days of parenthood by pausing or halving repayments.

Going where no majors dare to go

Specialist lenders are more important than ever for getting finance into the hands of deserving borrowers, yet not all brokers are aware of the options that are out there

SCOTT MAKES a killer bagel. So good, in fact, that demand for his doughy delicacies led Scott to realise the untapped potential of his weekend bagel-making hobby. What else to do then but get a business loan and have a go at opening his own bakery, where he could turn his passion into a career?

Unfortunately, Scott is one of many aspiring small-business owners who find it near impossible to secure a loan through the traditional banking channel.

This is where specialist lending comes in. It addresses a genuine issue in the home loan and asset finance spaces: the big banks tend to avoid customers who don’t fit the perfect mould of what they think a borrower should be. This is usually because these customers have unique financial situations, such as being self-employed or lacking a robust credit history.

But this creates opportunities for alternative and non-bank lenders to fill the void by offering products and services to these deserving borrowers.

“In simple terms, specialist lending caters for borrowers who may not meet the strict lending criteria of mainstream lenders and banks,” says Aaron Taylor, head of non-standard lending at Bluestone Home Loans.

“There’s a broad range of borrowers that specialist lenders, like Bluestone Home Loans, cater for, including those who are self-employed or have varied income sources, have an imperfect credit history, need to

“In simple terms, specialist lending caters for borrowers who may not meet the strict lending criteria of mainstream lenders and banks”

Aaron Taylor, Bluestone Home Loans

consolidate debt or are looking to invest using their SMSF.”

It’s true that specialist loans can come with comparatively higher interest rates, but as Taylor points out, specialist lenders also provide access to lending that a mainstream

lender such as one of the big four will not.

“This means that borrowers don’t need to wait years or miss out on opportunities to purchase the property they want, and if they maintain their mortgage, they can qualify for prime lending in the future,” Taylor says.

Specialist deals are often unique, complex or both, which is why a traditional lender is likely to avoid them. Taylor highlights one case where a borrower, despite having a decent income, was unable to secure a loan due to being self-employed. They also had a mix of debt and complex financial circumstances, making matters worse.

“Our flexible, merit-based approach to lending meant that by focusing on their current situation, strengths and future earning potential, we were able to find a specialist lending solution,” says Taylor. “The result was that the borrower was able to secure the loan they needed, paving the way for them to achieve their property goals.”

Barry Saoud, general manager, mortgage and commercial lending at Pepper Money, believes non-bank lenders are in a unique situation to help these borrowers.

“Unlike banks, non-bank lenders with ‘specialist’ loan options use a more flexible underwriting process to assess each borrower’s unique circumstances, offering tailored loan products that meet their specific needs,” Saoud says.

“Whether you call it non-conforming, alternative or specialist lending, these are all just different ways to describe borrowers’ circumstances that don’t tick the bank’s boxes.”

Making dreams happen

In Scott’s case, he managed to secure funding for his bagel business through non-bank lender Prospa.

Roberto Sanz, Prospa’s general manager of sales and partnerships, tells MPA how, with Prospa’s financial backing, Scott “managed the hospitality industry’s seasonal peaks and troughs and turned his passion into a flourishing business”.

Sanz teed Scott up with a Prospa Small Business Loan and a Prospa Line of Credit, which solved Scott’s cash flow problems and allowed him to secure:

• new equipment to legitimately commercialise his business

QUARTERLY RISE IN NEW LOAN COMMITMENTS

In the December 2024 quarter, the year-on-year value of new loan commitments:

rose 16% to $87.2bn for total housing

rose 12.7% to $54.8bn for owner-occupier housing

rose 5.5% to $16bn for first home buyers

rose 22.2% to $32.4bn for investor housing

rose 17.9% to $8.34bn for personal fixed-term loans

rose 13% to $4.7bn for road vehicle loans

“Unlike banks, non-bank lenders with ‘specialist’ loan options use a more flexible underwriting process to assess each borrower’s unique circumstances, offering tailored loan products that meet their specific needs”

Barry Saoud, Pepper Money

• additional staff to scale the business and match demand

• security in the form of additional product to manage seasonal peaks and troughs

“Through flexible, fast finance solutions, Scott has gotten his business off the ground and adapted to meet the evolving demand,” says Sanz. Today, Scott is hawking what he reckons are “the best bagels this side of New York” out of the Black Market Bagels bakery in Port Macquarie.

Saoud describes another situation where a customer was in arrears on her mortgage. Mia had recently opened her own business, and to cover start-up costs she used a busi-

ness overdraft secured by her home. She was also waiting for an insurance claim to clear due to a car accident, which caused a loss of income.

Saoud says, “Looking to reduce her monthly repayments, she was looking to consolidate two months’ mortgage arrears and a default of $1,200 into her existing mortgage. As Mia was able to provide a declaration of financial position, plus six months’ BAS statements, she qualified for a Pepper Specialist Alt Doc PLUS home loan option.

“While she experienced a real-life event that impacted her income, Mia has turned things around and is back on the road.”

SPECIALIST LENDING

The human touch

Regardless of the customer, “every situation is unique”, says Grant Smith, deputy chief lending officer at ORDE Financial. “We take the time to understand the lived, human story behind each individual application, which can be complex and is always distinct.”

To illustrate this, Smith describes a situation where the borrowers were a married couple, with no dependants, who were looking for a solution to help them refinance their current home loan and consolidate 10 other personal debts, all with varying conduct issues. Both applicants had been working at the same restaurant, which closed its doors in late 2019, leading to a loss of their long-term employment.

“From this moment, they were stretched thin, taking out multiple loans to help them get by,” Smith says. “Both applicants struggled to find new employment over this time – under-

INTEREST

“We take the time to understand the lived, human story behind each individual application, which can be complex and is always distinct”

Grant Smith, ORDE Financial

standable when we consider the timing with COVID-19 and the industry of both applicants.

“Today, both applicants are full-time PAYG employed. ORDE was able to help them consolidate all their debts in one manageable repayment that was lower than their previous monthly repayments.”

Common challenges for brokers

Taylor highlights two prominent challenges brokers face when dealing with specialist

RATES ON EXISTING BUSINESS BORROWINGS

lending scenarios. The first, “and maybe the most important for the success of their own business”, is that brokers are often unaware of the alternatives that are out there.

“Often when we talk to brokers about the deals on their desk, they’re shocked at how many they’ve turned away,” says Taylor. “Brokers should be getting quality support from their BDM, as the scenarios can often be complex.

“It’s important for the broker to make sure

they’re providing all of the info required up front for fast assessment. At Bluestone Home Loans, deals that are well prepared can be assessed in as little as one business day.”

Sanz says, “The biggest challenge we’ve observed is often for brokers to take that initial step into the alternative lending space. When you possess strong expertise in a specific area where demand is high, it can feel like a step back when diversifying into alternative lending options.”

For this reason, Prospa has invested significant resources into Prospa IQ, a tool that helps brokers quickly answer questions regarding approvals, interest rates and document accreditation.

“If brokers are willing to engage in a bit of upskilling and utilise tools like IQ, they will not only unlock the SME business market but also build trust with their existing clients,” says Sanz.

Saoud warns brokers of common misconceptions in the specialist lending space.

Firstly, they often see non-bank specialist loans as just a short-term fix. “It’s just not the case,” he says. “We can and do work with brokers to reassess their clients’ rate and overall position as their situation changes to give them options across a lifetime of lending needs.”

Secondly, Saoud says brokers often think specialist lending is too difficult. “Our research tells us that some brokers put non-conforming and specialist lending in the ‘too-hard basket’. But as soon as they give it a try, they realise how big an opportunity it is. And the reality is that we have made it easier than ever.

“If you haven’t done it, try us. Don’t assume you know where the non-bank boundaries are either – we are constantly evolving our policies to adapt with the market and your clients’ changing needs.”

Smith warns that specialist lending “is not a tick-box exercise”. Rather, “it often requires going much deeper into a customer’s situation and additional support to structure an application”. He says you need “a skilled and empathetic team” to deliver the right answers and gain the customer’s trust.

“A challenge for brokers is that it can often be difficult to speak to a credit assessor who understands this space well and can have a commercial conversation about a solution,” Smith adds.

A broker-led evolution

Speaking to these specialist lending experts, one thing becomes clear: brokers play a critical role in the evolution of the sector.

“The biggest opportunity in the space is for the wider broker community,” says Sanz, who believes that brokers are “uniquely positioned

From the growing self-employed market to people with different types of income. It can be as broad as those recovering after a life event to customers building a property portfolio; the need for alternative and specialist lending will continue to grow and build momentum.”

Brokers also need to be acutely aware of developments coming out of the Australian Taxation Office.

“We have seen an increase in ATO debt consolidation,” says Taylor. “ATO debt can have a massive impact on serviceability, and

“If brokers are willing to engage in a bit of upskilling and utilise tools like IQ, they will not only unlock the SME business market but also build trust with their existing clients”

Roberto Sanz, Prospa

to help SMEs and sole traders navigate challenges by providing strategies to build financial resilience and seize growth opportunities”.

More than just an opportunity, it’s also an expectation of brokers, “as we are seeing more clients expect consultation from their brokers”, adds Sanz. “And we think the broker industry is ready to meet that expectation in 2025.”

“If there’s one word that sums up why brokers should include specialist lending in their customer offering, it’s ‘flexibility’,” says Saoud. “This flexibility is even more important now as Australians face a major squeeze on their household budgets.”

Saoud warns that, following a bruising period of inflation and high interest rates (which mercifully began ticking lower in February), borrowers could face missing payments across the next six to 12 months.

“This presents a massive opportunity for brokers to get familiar with non-bank options, particularly across the near prime and specialist options that we have to offer.

again these can be really worthy borrowers who don’t need to be missing out on real estate opportunities.”

Smith is seeing similar developments, telling MPA: “Tax debt will also contribute to the growth of specialist lending. With the ATO stepping up collections, businesses with outstanding debt liabilities will require a lender that will work with them to find a solution for their specific financial situations.”

To make matters even worse for atypical borrowers, the unstoppable rise of artificial intelligence in the finance space will only result in more banks rejecting deserving customers.

The increasing use of AI in credit assessment is leading to a model where everyone’s history is a data point,” says Smith. “It takes time and skill to be able to navigate the in-between areas and discover the true human story.

“However, it also takes a lot of time to build the skilled credit team capable of making that assessment.”

NEW BROKERS ON THE BLOCK

CONSUMER demand for brokers’ services reached an all-time high in 2024, with nearly 75% of mortgages in Australia facilitated by brokers.

In such an environment, MPA’s 2025 Rising Stars successfully battled the continued challenges of:

• higher interest rates

• cost of living pressures

• a housing supply and a ordability crisis

• balancing the value delivered to clients with building their broker businesses

• leveraging technology to enhance processes and streamline client communication

• adapting to the expansion of open banking to personalise services

This uptick in demand has o ered new opportunities for young, less experienced brokers to thrive in an industry undergoing rapid transformation, evidenced by the fact that 98% of MFAA members reported seeing new clients for the first time who sought to refinance due to serviceability bu er constraints.

By developing leading-edge knowledge, client relationship and business skills, and committing to ongoing professional development, the promising young brokers – recognised as MPA’s Rising Stars – have a pivotal role to play in the sector’s future.

“I think it’s an extremely exciting time for new-to-industry brokers,” says MFAA CEO Anja Pannek. “This is a fantastic industry to build a business and a career. The industry is in a strong position and, importantly, growing.”

This robust demand for brokers also extends to those supporting commercial lending needs. The latest MFAA Industry Intelligence Service report, covering 1 October 2023 to 31 March 2024, reveals that the number of mortgage brokers writing commercial loans rose to 6,755, a 15.19% increase.

“The first few years of a broker’s career can be challenging, without a doubt,” Pannek says. “New brokers have to get across lender products and policy, build referral partnerships and establish processes in their business.”

Underlining how the best young mortgage brokers demonstrate leadership potential, Pannek emphasises the following approaches:

“As my career progresses, I aim to grow my team, expand my book and help more clients achieve their financial goals while contributing to the mortgage industry’s success”

Salina Lam, Insight Property Finance

• leveraging a mentor who can provide a significant level of support across all aspects of a broking business, including understanding the industry, key relationships and responsibilities, and the practical ways to engage with customers

• gaining confidence from mentoring in this critical part of a broking career

• leaning on a support network

“As a new broker, utilise the resources and support available from your association,

FROM THE SPONSOR

At ING Australia, we’re thrilled to once again sponsor MPA ’s Rising Stars for 2025.

For a quarter of a century, brokers have worked with us to help more Australians achieve their home ownership dreams. Today, more than 90% of our home loans are sourced through the third-party channel. Supporting the next wave of talented brokers isn’t just important –it’s vital for the future of our industry and the customers we serve.

Fresh talent keeps the broker channel thriving, bringing innovation, energy and new perspectives. Rising Stars like those featured in this report exemplify

your aggregator BDMs and your lender BDMs,” Pannek adds.

“Also, don’t forget to reach out to other brokers in your network who are always more than willing to share their experiences and insights.”

FBAA managing director Peter White agrees that even in di cult times, broking remains a resilient and rewarding profession.

“Young brokers need to be diligent in their investigation discoveries when putting a loan application together and must never

the drive, resilience and customer-first mindset that define success in our everevolving market.

“I’m passionate about giving back by mentoring and developing junior brokers, helping them succeed just as I’ve been supported”

Steven Clark, Picker Financial Solutions

take any shortcuts,” White says. “Compliance with the best interests duty is paramount and must be mastered. Once done, it becomes second nature.”

White also emphasises the importance of mastering the art of dealing with clients and their needs and emotions while balancing the requirements of lending to ensure everyone wins in the end.

MPA invited the country’s leading mortgage companies to nominate standout achievers under 35 who had written over $15 million in loans within a year and held no more than two years of broker accreditation.

Following a rigorous review of submissions and peer recommendations, the MPA team selected 50 Rising Stars for the 14th annual list, recognising their exceptional impact, determination and drive.

The value the Rising Stars bring to borrowers and lenders continues to ascend to new heights, according to the September 2024 quarter MFAA data:

• Brokers wrote a record-high 74.6% of all new home loans.

• The value of broker-initiated loans hit an all-time high of $103.2 billion , representing a $9.4 billion or 10.02%

2025 is shaping up to be a year of change and opportunity. The Rising Stars will no doubt tackle challenges head on, helping the broker channel grow stronger than ever. ING is proud to champion their achievements and celebrate their journey.

Congratulations to this year’s nominees. We can’t wait to see what you’ll achieve next!

METHODOLOGY

MPA invited the most impressive mortgage companies in the country to nominate high-performing achievers for the 14th annual Rising Stars list. All nominees had to be 35 years old or younger. They had to have written more than $15 million in loans from 1 October 2023 to 30 September 2024 and worked as accredited brokers for no more than two years. Brokers presented their submissions, detailing why each individual deserved to be considered, and recommendations were then taken from their peers to decide who made the final cut. After thoroughly reviewing all entries, the MPA team narrowed down the list to 50 Rising Stars who have made the most significant impact on the industry through their financial results, determination and drive.

The MPA Rising Stars report is proudly sponsored by ING.

increase compared to the same period year-on-year.

• Broker market share rose by 3.1% compared to the same period in 2023.

George Thompson Head of Mortgages, ING

RISING STARS 2025

NUMBER OF ACTIVE BROKERS BY STATE

“Eventually, I’d love to mentor others and help them navigate the challenges of this industry, because I know how hard it is to break into the market” Mark Stutz, Quattro Finance & Advisory

The industry’s record-breaking growth shines a spotlight on the influence of the best mortgage brokers, who personify resilience, client-first innovation, leadership and far-reaching results, serving as role models for aspiring, rising brokers.

According to CoreData, consumer demand and interest in the broking profession are among the factors fuelling the industry’s growth. Australia’s national consumerto-broker ratio is 10.7 per 10,000 adults, or one broker for every 931 adults, reflecting a 4.91% increase between 2018 and 2024. The number of people entering the

broking industry has also surged over the past four years, more than doubling across all states and territories between 2020 and 2023. Additionally, 2023 was a peak year for new entrants across all states and territories, except Tasmania.

The most populous states, New South Wales and Victoria, saw the largest influx of new entrants across all years. They now have the highest number of brokers in the country, with 34% and 32% working there, respectively.

Regarding broker density, Victoria leads the way with 13.5 brokers per 10,000 adults,

rendering it the most saturated broker market. In contrast, Tasmania and the Northern Territory are home to only 1% and 0.3% of Australia’s brokers and have the two lowest broker densities of any region, at 4.7 and 3.6, respectively.

Among Australia’s over 21,000-strong customer-facing mortgage brokers, this year’s Rising Stars possess the extraordinary potential to lead the country’s more than 10,700 businesses forward.

As MPA’s survey data shows, collectively, the Rising Stars have:

• achieved recognition for exceeding performance metrics

• implemented business innovations

• mentored peers

• managed industry challenges

• delivered outstanding results for clients and their brokerages

• advocated for industry change

The five best mortgage brokers profiled here represent the country’s diverse rural and urban regions, specialties and unique achievements that have earned the 2025 Rising Stars recognition.

Source: “Broker Density in Australia: The Consumer-to-Broker Ratio 2024” report by CoreData and the FBAA

Best mortgage brokers creating a lasting, positive impact

New South Wales

Salina Lam –Insight Property Finance

Sydney-based mortgage broker Salina Lam has honed a holistic approach to helping clients make informed financial decisions by explaining the ‘why’ and ‘how’ of lending. This transparency has enabled her to build trust and loyalty, creating a positive customer experience that has led to a robust referral base.

Lam works closely with multiple stakeholders, including clients, referral partners and lenders, and understands that proactive communication is essential in ensuring a smooth process.

“We often face pressure with settlement deadlines,” Lam says. “I proactively provide updates at each stage of the process, giving clients and referral partners confidence in my abilities and reassurance that everything is being actioned as planned.”

Her contributions to Insight Property Finance’s success are numerous, including:

• extensively rebuilding the ‘opportunity tracker’ tool, an Excel spreadsheet that has replaced multiple systems and calculators to save time, improve accuracy and streamline processes for sta and clients

• introducing digital signature technology to simplify paperwork for clients, removing the need for physical signatures across numerous forms

Drawing on her experience as a corporate analyst at a big four bank, Lam takes pride in helping clients grow their wealth through homeownership. She has earned a reputation as a skilled broker who delivers exceptional value through personalised and comprehensive service and solutions.

After the deal closes, her commitment

to clients continues to shine through. For instance, she is keen to negotiate better interest rates even after settlement. Among her notable achievements are:

• 100% approval rate for 74 mortgage applications lodged

• $2.5 million borrowing capacity

unlocked for a self-employed client, resulting in the acquisition of three investment properties within one year

As a young broker, Lam has counteracted perceptions about her limited experience by going above and beyond for every client, dedicating the time and attention needed to exceed their expectations and build up her book.

“Someone who has been in the industry for many years might have to manage hundreds of clients, which can sometimes make it harder to maintain that same level of personalised care,” she reflects.

Another hurdle Lam has conquered with ease involves staying on top of the vast number of lenders and their varying processes and credit policies. She emphasises the importance of understanding the unique requirements of each lender to deliver the best solutions for clients.

“I genuinely care about my clients and take the time to learn the specifics of each lender’s offerings, including reaching out to BDMs to workshop scenarios, asking the right questions and, when necessary, relentlessly pushing for escalations to ensure the best possible outcome,” she says.

Steven Clark –Picker Financial Solutions

While managing his clients at the picturesque Brightwaters brokerage on the western shore of Lake Macquarie, head mortgage broker

“I want to encourage more women to join the industry and inspire brokers to think di erently, focusing on educating clients to better their financial circumstances and build wealth through smart investments”

Rachael Howlett, In nity Group Australia

Steven Clark devotes considerable time to training junior brokers and support sta . Clark also specialises in helping investors build and scale their property portfolios and working with first home buyers. Most of the brokerage’s clients are low- to middleincome earners, highlighting his commitment to providing accurate information and wellinformed advice to make wise decisions.

On the business front, he has helped grow the brokerage from a team of three to 15 and confidently handles referral and client relationship management. Clark assisted in implementing new technologies, including Broker Engine, Quickli and Spark, to enhance the brokerage’s operations. His customer-first

RISING STARS 2025

approach has been key to achieving outstanding results and building trust and meaningful client and partner relationships.

“We focus on being as available and responsive as possible for our clients,” he says. “We’ve created a seamless experience by understanding their needs and proactively communicating.”

Within 48 months in the role, Clark has:

• written over $100 million in lending in his first year as a qualified broker

• received the New Broker of the Year award from aggregator AFG

• onboarded and trained staff in credit, processing, deal management and lead nurturing

Juggling multiple demands while staying ahead of market trends can be challenging in competitive environments. To manage this, Clark focuses on strengthening his industry knowledge and leaning on more experienced colleagues for support and advice.

“I’ve focused on time management and also learned how to delegate tasks more e ectively,” he says. “Building strong relationships with our BDMs has been key to getting the support and resources I need to stay on top of things and provide the best service to my clients.”

a development finance transaction for 18 apartments in Caulfield North is among his most significant achievements to date. The project reflected the knowledge he has gained and reinforced his self-confidence.

“Quattro is an established business with a strong reputation, and that’s certainly given me a decent leg-up,” Stutz explains. “Knowing the market well so you can have those technical conversations also gives clients confidence in you.”

Success came early for Stutz, who credits his ability to forge strong connections with clients and lenders as the backbone of his impressive results. Not one to sit by and wait for good things to happen, Stutz has earned a reputation for shifting gears with intensity and focus.

Some of the steps he has taken in the past 12 months to boost his skills and knowledge include attending numerous industry and networking events, such as the LMG Business Excellence Conference in Cairns and the MFAA Top Gun Commercial Workshop.

His strategies for overcoming the challenges faced by young brokers include:

• seeking advice from trusted mentors when workshopping complex scenarios

Queensland

Rachael Howlett –Infinity Group

Australia

Rachael Howlett’s lived experience of supporting younger siblings while working part-time and completing her studies has taught the finance strategist the value of financial literacy and education. That firsthand knowledge has driven her meteoric rise in the mortgage industry, where she plays a major role in delivering Infinity co-founder Graeme Holm’s Money Mentor masterclass education series from her home base in Varsity Lakes.

“Instead of pitching for business, we focus on educating people about managing their finances effectively,” she says. “This adds value before they commit to working with us, and builds trust.”

This strategic approach paves the way for solutions that make a real di erence. For example, Howlett recently assisted a client who had $350,000 in term deposits earning 4.8% interest, while at the same time paying 6.5% interest on their home loan. By reallocating those funds to reduce the home loan balance, she lowered their monthly repayments and freed up equity for future investments. Chief among her numerous achievements are:

Victoria Mark Stutz –Quattro Finance & Advisory

South Melbourne senior associate Mark Stutz has flourished since joining the mortgage industry, starting at Quattro Finance & Advisory as a credit analyst before quickly advancing to a top new business writer after earning his broker accreditation.

Stutz specialises in commercial and development finance, adeptly funding site acquisitions, running tender processes and assisting clients to get their projects up and running. The February 2024 settlement of

• making a daily to-do list , putting clients’ needs first and ensuring he can bring in new transactions, maintain lender relationships and stay updated on market changes

• allocating time for social media, lender meetings and building his reputation and professional growth

The most rewarding transactions Stutz has dealt with involve finding niche solutions for clients with complex requirements.

In an industry that boasts a significant cohort of older, experienced brokers, gaining traction and recognition when starting out can be tough. Stutz has turned this to his advantage by seeking out mentors and industry insiders who want to pass on their knowledge.

• recording a Facebook video viewed by over 200,000 people , educating Australians on financial literacy and debt management

• attracting 239-plus Rate My Agent reviews , highlighting her skill and dedication

• being named on MPA’s Top 100 Brokers list in 2024, her first year as a broker

Howlett views her role as beyond that of a standard mortgage broker. She is proud to be a holistic financial educator, helping everyday Australians break the big banks’ stranglehold and the conventional approach that governs traditional mortgage broking approaches.

She also strives to establish a strong foundation for young people so they can take good money habits into adulthood. Being taken seriously as a young woman in a maledominated industry was a challenge she met head-on by proving her expertise, backed by the results she has achieved for clients.

“When I moved from events management to finance, a female CEO told me I wouldn’t make it in finance as a young-looking woman,” she reflects. “That stuck with me, and it motivated me to work even harder to prove her wrong. I take pride in inspiring other young women to believe they can succeed in this field.”

South Australia

CREDIT

REPRESENTATIVE ENTRANTS BY STATE SINCE 2020

Steffan Bastians –Brokerage and Co

Within six months of launching his career, mortgage broker Steffan Bastians has emerged as a top performer whose dedication and expertise have garnered him recognition as a Rising Star and a finalist for LMG’s 2024 Best New Broker award.

That success has been built on a foundation of strong referral partners, such as accountants, financial advisers, conveyancers and builders, ensuring clients receive a complete package of services tailored to their needs. His banking background instilled a passion for finance that has blossomed since joining the broking community, where he feels less restricted in serving clients.

Before starting as a broker, Bastians created a 12-month plan for himself, breaking down monthly goals with clear, measurable targets – all of which he has exceeded.

“I review and update the plan regularly to stay on track or adjust if needed. This approach has kept me focused and driven,” he says.

The guidance and mentorship of Brokerage and Co’s founder and CEO, Sergio Stefano, has been invaluable to Bastians’

Ste an Bastians, Brokerage and Co

development and confidence. Some of his accomplishments include:

• creating a one-stop-shop experience by assisting clients at developers’ display homes, conveyancers’ o ces, and at hospitals to help time-strapped health workers with their financial needs and plans

• earning 18 five-star client reviews by mid-2024

Staying across the unique policies and niches of the country’s lenders remains challenging in a competitive market where change is the norm. Bastians tackles this by setting aside upward of three hours daily to study lender policies, and creating a visual guide to reference key information quickly.

“I want to inspire others – bank lenders or anyone considering a career change – to believe in themselves and pursue their goals”

Building relationships with lender BDMs has also been essential.

“Their support makes a big difference when clarifying policies or working through tough deals,” he reflects. “I’ve learned not to put all my eggs in one basket and always have back-up options for lenders if something falls through.”

Source: “Broker Density in Australia: The Consumer-to-Broker Ratio 2024” report by CoreData and the FBAA

As part of our editorial process, Key Media’s researchers interviewed the subject matter experts below for an independent analysis of this report and its findings.

RISING STARS 2025

Henry Vong

Mortgage Broker, AUSUN Finance

Phone: 0466 594 353

Website: ausunfinance.com.au

Jordon Warhurst

Managing Director, Home and Investment Lending, Rival Finance

Phone: 0468 523 293

Email: henry.v@ausunfinance.com.au

Email: jordon.warhurst@rivalfinance.com.au Website: rivalfinance.com.au

Mark Stutz

Senior Associate, Quattro Finance & Advisory

Phone: 0428 753 228

Email: mark@quattrofinance.com.au Website: quattrofinance.com.au

Michael Mankin

Director/Finance Broker, Mankin Finance

Phone: 0420 699 983

Email: michael@mankinfinance.com Website: mankinfinance.com.au

Rachael Howlett

Finance Strategist, Infinity Group Australia

Phone: 0447 221 922

Email: rachael.howlett@infinity.com.au Website: infinity.com.au

Andrew Macheras

Managing Director/Founder, Mach Mortgages

Phone: 0410 725 556

Email: andrew@machmortgages.com.au Website: machmortgages.com.au

Nicholas Del Duca Finance Broker, Australian Financial & Mortgage Solutions

Phone: 0412 854 632

Email: nick@afmsgroup.com.au Website: afmsgroup.com.au

Salina Lam

Mortgage Broker, Insight Property Finance

Phone: 0432 879 142

Email: salina@insightfinance.com.au Website: insightfinance.com.au

Steffan Bastians Finance Broker, Brokerage and Co

Phone: 0426 278 297

Email: ste an@brokerageandco.com.au Website: brokerageandco.com.au

Steven Clark

Mortgage Broker, Picker Financial Solutions

Phone: 0455 903 100

Email: steve@pickerfs.com Website: pickerfs.com.au

Andrew Tauriello Lending Hub Co.

Anthony Chen Empower Wealth Mortgage Advisory

Ayushi Patel Cinch Loans

Benjamin Mitchell Loan Market Bowral and Goulburn

Branislav Kokinovic Australian Finance Hub

Chris Tan Neses Finance

Daniel Fulton Samuel Finance

Daniel Mackay Verity Finance Group

David Decelis Elite Finance Partners

David Stephensen Finspo

Dylan Marchingo Investure

Estelle Dejean FINANS Brokers

Fareen Rahi Melbourne Low-Rate Home Loan

Jake Cunningham Empower Wealth Mortgage Advisory

Jason Fang XIN Mortgage

Jayden Livingstone Mortgage Choice in Arundel, Broadbeach and Brisbane

Joel Douglas Sims Derwent Finance

John Tang JT Finance Group

Jonathan Roel Roel Capital

Jordan Hagicostas Aussie Prospect

Joshua Diab

Simplicity Loans and Advisory

Joshua El-Bayeh Shore Financial

2025

Julian Choo

Leisa Townsend Ti en & Co.

Lewis Johns

Julian Choo Loan Market

The Australian Lending & Investment Centre

Mia Castellarin Mortgage Choice

Nathan King Avant Finance

Nunzio Stasolla Sanford Finance

Paul Booth Finance and Investment Collective

Paul Kyriacou IFA Mortgages & Finance

Riley Herd Empower Wealth Mortgage Advisory

Ryan Kniese Loan Market Rowville

Sarah Conroy Power Tynan

Tara Paterson Zella Money

Tara Rockett Rockett Finance Solutions

Taryn Howe Loan Market Clayfield

Tom Mather

Bernie Lewis Home Loans

Tom Schofield MortgageWorks

Tommy Anderson Brokerly

William Matterson Walker Hill Finance

A recruitment insider’s guide to nabbing the best talent RECRUITMENT

The struggle to secure the best employees from a shallow talent pool is real. Luckily, there are some tips and tricks to give your brokerage the edge over your competitors. Roxanne Calder shares four of them

RECRUITMENT HAS never been tougher. As a recruiter for more than two decades, I have experienced many employment cycles, with this the hardest yet. Sourcing talent in today’s post-COVID environment is confounding. Like the most complex problems, it demands broad intellectual enquiry, a full focus, all our ingenuity and wits and then more again. Your faith and understanding of human behaviour is tested and even your energy zapped. There isn’t a magic answer, but there are some well-honed tips to navigate this cryptic talent problem we find ourselves with.

1 Accept the reality

The shortage of skilled workers is not just for the short term. Don’t ponder when it might improve. For the answer is, “not any time soon”. This has been an ongoing issue in Australia since well before the pandemic. The other reality is the need to compromise. There is no ‘perfect candidate’ any more. Change your view and perspective on what ideal is. Rather, accept our new realities and move ahead with creative thinking for a solution-based strategy.

2 View talent through a different prism

What does your brokerage really need? Retire the long wish list, and focus purely on critical needs as well as transferable and trainable skills. Cutting out the peripheral opens up your candidate pool and enables swift decision-making.

Consider an audit of your existing work-

forget what worked before. Consider ‘wildcard’ candidates, ie candidates with different backgrounds and experience from what you typically consider, but who can potentially do the job. The best candidate in today’s market will have transferable and enterprise skills, great attributes and a winning attitude.

In removing bias, look to relatively untapped but talented market segments,

Let go of any bias and outdated beliefs. We all have them, but if you want to outwit this talent conundrum, have a fresh approach and forget what worked before

force. You may have hidden talent sitting right under your nose. Appraise their profiles and conduct reviews to uncover the skills, desires and aspirations of your team. Look to upskill, train, transfer, promote and second.

Let go of any bias and outdated beliefs. We all have them, but if you want to outwit this talent conundrum, have a fresh approach and

such as the youth, our ageing population, students for internships, return-to-work mums with part-time work, and job shares. You could even consider global pipelines. Remote working has thrown open the international door for new hires. Time zones are only a barrier if you see it that way. Turn it to your advantage!

3

Archaic practices

The days of asking your candidate why you should hire them are long gone. Instead, ask why prospective new hires would want to work for your business. Sell your value proposition. Are you o ering what employees are seeking?

Consider your processes. They should enable and improve your business. If your recruitment processes no longer provide benefits, abandon them. For example, if your process involves four interviews over two weeks, ask why. A prolonged interview process could be costing you dearly, not just in candidates but in brand reputation. If your process really needs more than one interview, ensure they happen in quick succession. It’s about speed and e ciency in today’s hypercompetitive candidate market.

At the o er stage, check that the salary is market competitive. This is not the time to save a few dollars by lowballing the o er. Your

potential new hire will have other job opportunities. Ideally, make an o er on the same day as the last interview or, if you’re brave, during the interview itself. Delaying an o er could undo all the hard work you’ve done to get your dream candidate this far. Have contracts ready, and issue them on the same day as your o er.

4

You have your new starter. Or do you?

The recruitment process is not over yet. This is the fine-tuning part. Keep in touch throughout your new starter’s notice period. Despite resigning, people change their minds and accept countero ers. Also, don’t discount other job o ers from previous interviews coming through to the candidate. The war for talent is fierce, and these are standard tactics. “It’s not personal,” they will tell you.

And even after your new employee has started, it’s still not a done deal. You can

expect prospective employers to continue to contact them with an array of opportunities. This typically occurs within the first three months when new employees are the most vulnerable. So, make sure your onboarding is on point.

Sta have always been the number one pain or gain for businesses. When you get it right, it’s so good! Today’s competitive workforce-sourcing world is more complicated, intricate and unpredictable than we have ever known. Start with accepting the reality, and the rest will follow.

Roxanne Calder, author of EarningPower: BreakingBarriersandBuildingWealthforWomen (Wiley), is the founder and managing director of EST10 – one of Sydney’s most successful recruitment agencies. For more information, visit www.est10.com.au.

It’s all about the community

Mortgage Choice franchise owner Belinda Sugars has spent 20 years weathering the thick and thin of the mortgage business but has always kept the community spirit high

MORTGAGE

BROKING has been a hugely rewarding career for Belinda Sugars, a Mortgage Choice franchise owner-manager based in Parkside, Adelaide.

Her 20 years in the business have been littered with commendations, from being named South Australian Rookie of the Year way back in the early 2000s to winning the Franchise Council of Australia’s national

banking royal commission, there was a lot of negativity directed at the broking industry, which called into question the value we provide,” she tells MPA

“This felt unfair when as brokers we work so hard to always do what’s right for our customers and gain their respect and trust.”

Looking back, Sugars reflects that the most challenging periods in her career have

“For me the best thing about this job is being able to help people from all walks of life, especially those who thought they’d never be able to own a home”

Franchise Woman of the Year title in the mid-2000s, to recently nabbing a Community Champion Award at the MFAA Excellence Awards for supporting the women’s homelessness charity Catherine House.

Perhaps most rewarding of all, Sugars beams with pride at how her two decades of hard graft have enabled her to support her family through thick and thin.

But as with any storied career, there has been no shortage of crises either.

Weathering the storm

Talk to any broker in the business and the spectre of the 2018 royal commission into banking still looms large.

It’s no di erent for Sugars. “During the

resulted from events “that were out of my control”. The industry had barely caught its breath from the royal commission before the

COVID-19 pandemic caused upheaval across the globe at the turn of the decade, followed immediately by a cost of living crisis and soaring interest rates.

To put it lightly, it hasn’t been an easy seven years, but in Sugars’ view, the broking industry has shown unwavering fortitude in the face of these challenges.

“Thankfully, the industry is in a much stronger position because of those challenging times, and broker market share has since climbed to a record high, demonstrating how much consumers value our advice,” she says.

Regulation has been key to the third party channel’s resilience throughout these testing times, reckons Sugars.

“The changes to regulation have lifted the standard and professionalism across the industry. I was very passionate about our industry being seen in the right light and

POWER OF THE FRANCHISE MODEL

While the broking industry can be intimidating for newcomers, Belinda Sugars believes that operating a franchise under the well-known Mortgage Choice banner gave her “a powerful head start”. She says, “Years later, I continue to reap the benefits as Mortgage Choice makes ongoing investment in consumer brand campaigns that drive brand awareness and leads to my business. And the professional development support I’ve been given throughout my career has been fabulous. I’m given regular opportunities to connect with and learn from my peers in South Australia throughout the year at professional development days and franchise-owner forums. Mortgage Choice is continuously trying to help me grow, and it feels like my success is their success. For a person starting their own business in the broking industry, the franchise model was a no-brainer for me.”

“With so many buyers being priced out of Sydney and Melbourne, I think we’ll see more of them look to Adelaide for their first or next property purchase”

respected for the work we do to help clients.

“While the increase in regulatory obligations can feel stringent, it helps us better understand our customers and strengthens our relationship with them.”

Helping the community

In 2007, when Sugars was still finding her feet in the mortgage industry, she started a networking group for women in business. As part of this initiative, the group sought out a local charity to support, which led

them to Catherine House. Eighteen years later, Sugars remains as committed to the cause as ever, with her support for the charity even leading to meetings with the Governor of South Australia at Government House – “somewhere I never imagined I would be invited to”.

“As women in business, we are proud to be helping other women,” she says. “Catherine House provides women with a safe place to be and access to important services, including health and counselling, mental

MORTGAGE CHOICE PARKSIDE AT A GLANCE

Owner: Belinda Sugars

Location: Parkside, South Australia

Services: Home loans, investment loans, commercial lending, asset finance

Number of employees: Five

health and NDIS support, financial and legal advice, personal development, and education and employment.”

Sugars’ passion for the community is reflected in the work she does with clients of her Parkside brokerage.

“For me the best thing about this job is being able to help people from all walks of life, especially those who thought they’d never be able to own a home,” she says, adding: “Hearing my sons tell me that they are proud of me fills me with joy.”

Outlook for Adelaide

Sugars observes an ongoing short supply of housing and land in the SA capital, “which will likely continue to push up home values this year”.

She is also seeing “significant” delays in construction finance due to infrastructure issues in the northern suburbs and a shortage of skilled tradespeople and materials.

Yet demand is also expected to keep climbing. “With so many buyers being priced out of Sydney and Melbourne, I think we’ll see more of them look to Adelaide for their first or next property purchase.

“I am biased, of course, but Adelaide is a wonderful place to live, with our beautiful beaches and a wine region that is the envy of many around the world.”

As for her brokerage, Sugars is expecting another busy year as “we help first home buyers navigate the complexity in this market”.

14

“Starting my morning with training helps set the tone for a productive and successful day”

150

11,000

Average number of steps Evans takes every day

FITNESS-DRIVEN LEADERSHIP

Fitness enthusiast Nicole Evans applies her training discipline to her leadership role at Wisr

NICOLE EVANS, head of broker at Wisr, has integrated her passion for fitness into her professional life, finding both realms equally rewarding and satisfying.

“I’ve been at Wisr for nearly six years now, and one thing that has remained consistent is my love of exercise!” she says. “I’m a strong believer that a healthy body equals a healthy mind.”

About three years ago, Evans began teaching high-intensity and strengthtraining classes, which she finds especially fulfilling. “Teaching fitness classes is incredibly rewarding and allows me to share my love for movement; [it] helps inspire our wonderful members and push them past their limit,” she says.

This physical discipline also enhances

Evans’ professional leadership as she guides Wisr’s BDM team in supporting broker and aggregator partners.

“Whether it’s in the gym or at Wisr, I feel energised and fulfilled when seeing people achieve their goals,” she says.

Now, Evans is setting her sights on her next big challenge – competing in a HYROX race.

Number of hours Nicole Evans trains every week

Number of tness classes Evans typically teaches in a year

As a 100% customer-owned bank, we always put the needs of our customers first. So, you can recommend Beyond Bank with confidence.

We take the same approach to maintaining mutually rewarding relationships with our broker partners.

• Our customer satisfaction score is 95% with our broker network.

• We offer genuine support, with open access to our Australian-based broker support team.

• Continuity of service is assured with our team owning each file from lodgement to settlement.

• Canstar’s Customer Owned Bank of the Year, Digital Banking 2015-2024.

Beyond Bank is a B Corp certified bank. We use our business as a force for good to drive positive outcomes for our people, customers, communities and planet. We commit to balancing purpose with profit by meeting the highest verified standards of social and environmental performance, accountability and transparency.

Our broker support team will work for you and with you to help your customers with their lending needs.