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Great Southern Bank to double broker network in 2022

13 April 2022

Great Southern Bank’s new partnership with Specialist Finance Group (SFG) is the first of several new aggregator deals it expects to announce in the coming months as it seeks to double the number of accredited brokers to 6,000 by the end of the year.

“These new deals give us the opportunity to connect new customers with our new brand and introduce them to our portfolio of home loan products,” said Mat Patterson, Head of Broker at Great Southern Bank.

Mr Patterson said its expanding broker network was a vital part of the bank’s strategy to help more Australians own their own home.

“Just a year ago, around half of our home lending was via brokers – now it’s over three quarters. The new customers that our brokers are attracting are typically younger, which is particularly important as we look to help more first home buyers into their homes.”

Great Southern Bank has recently recruited a new broker engagement specialist, who will develop and roll out a new broker marketing program to support the bank’s expansion plans for the channel.

“We are investing heavily in new technologies such as our Lendfast platform to make the home loan application process faster and more efficient for our broker partners. Our ‘time to yes’ has more than halved over the last year whilst application volumes have doubled.”

In the coming weeks, Great Southern Bank will introduce electronic document signing and also a new fixed rate lock feature.

“As we grow, we look forward to demonstrating to the broker community that we are a genuine and credible alternative to the big banks, with competitive home loan products, great broker servicing and fast turnaround times,” Mr Patterson said.