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Aggregator sees 40% rise in settlements

Aggregator sees 40% rise in settlements

eChoice has announced that it has finished the financial year with a record $365 million in settlements in May 2017.

According to the aggregator, the figure represents a 40 per cent increase on the prior comparison period, which the general manager of aggregation, Blake Buchanan, said was particularly pleasing given the “barrage” of financial controls on lending and uncertain market conditions for the third party channel. 

Mr Buchanan said the success was a testament to the work of its 452 brokers and the ability of eChoice to adapt swiftly to an ever-changing market driven by evolving consumer needs. 

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“A combination of getting the fundamentals right along with having a good read on the market and impending changes has allowed us to develop systems and tools that are paramount to a brokers present and future success,” he said. 

“The changes that we have made to ensure the right balance of systems, support and the economy of it all has seen our broker numbers grow by 30 per cent over the financial year.” 

The GM of aggregation noted that the last financial year saw eChoice release a number of new to market initiatives for its brokers and their clients so that the broader needs of client’s financial transactions could be met by brokers digitally. 

He explained: “The evolving consumer is looking for a trusted adviser to facilitate not only their lending requirements, but assist with the whole journey of a transaction. That could mean that when purchasing a home, the broker arranges for the insurances, services connections, building reports, removalists and conveyancing to name a few. 

“It is one thing to forge these partnerships, but to integrate them successfully, they need to be digital and fit into a broker’s sales process. With our own proprietary system, we can ensure these initiatives are integrated correctly and embedded within the process,” he added.

[Related: Prudential policy ‘greatest concern’ for mortgage market]

Aggregator sees 40% rise in settlements
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