Australia’s largest aggregator, Loan Market Group has transitioned to Bendigo Bank Broker and is now offering Bendigo Bank branded home loans for the very first time.
The addition of Loan Market Group brings Bendigo Bank’s rolling onboarding program of aggregators that started in November to a conclusion.
With the retirement of the Adelaide Bank brand, Bendigo Bank Broker is now the Bank’s flagship offering for mortgage brokers across the country, offering a seamless digital experience for brokers with an approval speed amongst the fastest in the industry.
Underpinned by Bendigo Bank’s new Lending Platform, Bendigo Bank Broker provides a superior experience for brokers centred on the Bank’s ‘digital by design, human when it matters’ approach to the broker lending experience.
Customers onboarded via the platform now have more choices with a new simple and flexible home loan offering and access to the full range of Bendigo Bank products, services, and support, with seamless onboarding experience and improved e-banking facilities.
General Manager of Third-Party Banking at Bendigo Bank, Darren Kasehagen said Bendigo Bank Broker was going from strength to strength, with nine aggregators now offering Bendigo Bank branded products.
“We are very encouraged by what we have seen since the trial began, with the number of applications exceeding our expectations since launch in late 2023, with the majority of applications receiving conditional approval in minutes,” Mr Kasehagen said.
“The team behind the scenes here at Bendigo Bank have done a remarkable job with onboarding these aggregators in just nine months and we’re excited to offer our third-party customers a full suite of Bendigo Bank products.
“Bendigo Bank Broker is for brokers who want better. We combine strong business relationships and enhanced digital processes to deliver a broker focused, service driven platform for brokers across the country. We’re committed to being there for our brokers - so they can be there for their customers,” Mr Kasehagen concluded.
David McQueen, LMG Group Executive for Strategic Partnerships, said LMG, and most importantly its brokers, are excited to welcome Bendigo to the LMG panel.
"Bendigo’s strong and trusted brand recognition, and range of products, will further strengthen our lender panel and enable brokers to provide their clients with even more choice and support,” Mr McQueen said.
CEO at Finsure Group, Simon Bednar said his organisation was pleased to support the Bank by being the first aggregator to trial the new platform.
“As the first aggregator to come on board in November last year, it was great to be able to share our learnings with the Bank to ensure the platform and processes were exactly what brokers wanted,” Mr Bednar said.
Aggregator, outsource Financial, who came on board in April said they were thrilled to roll out Bendigo Bank to their brokers.
“The onboarding process of Bendigo Bank has delivered a positive first impression for our brokers. The communication and approach that was delivered clearly proved that their expertise and dedication to ensuring a streamlined process was met. This partnership will undoubtedly benefit our brokers which also will then benefit their clients having further access to high-quality lending options,” CEO of outsource Financial, Tanya Sale said.
Bendigo Bank Broker has marked a significant milestone in Bendigo Bank's transformation journey, empowering brokers to recommend Bendigo Bank branded home loans and access a range of value-adding products and services. The Bendigo Lending Platform, supported by automation and digital capabilities, enhanced the broker and customer experience, driving growth and reinforcing Bendigo Bank's position as Australia’s most trusted bank.
Key highlights:
- The median time to Conditional Approval since trial began in November is under six minutes.
- Time to Unconditional Approval is 4 days, more than twice as fast as the Adelaide Bank experience.
