Episodes
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Each week, we drop a video inside the group where you get to learn something new about a product or service out there that may be of benefit for you or your clients.
We make it fun by incorporating these sessions in a monthly quiz where you can win $1000 gift voucher from us? - All you got to do is take part in a monthly Quiz and get the highest score. Which means you can do it as many times as you like. This episode deals with outsourcing your back office. With the high court case in NSW regarding payroll tax in the headlines, it's probably a great idea to check whats out there.
New kid on the block - REMOTE BROKER SOLUTIONS - chats with us in this episode. Whilst new, David Browne has been in the industry as a broker for many years. So to say he knows your pain points is not an exaggeration.
So grab a cuppa and have a listen
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In our conversation with Steve Matsoukas, a Legend in the Finance Industry, we delve into his remarkable journey. After running a successful food business alongside his brother for 16 years, Steve decided that the cold working environment was enough, so he decided to transitioned into the broker industry. His initial foray in 2002 with Aussie as a salaried broker laid the foundation, but it was after venturing out independently post his entrepreneurial success that he truly made his mark. Steve's narrative stands out not just for the strategic processes he implemented to expand his team, leveraging technology significantly, but also for his strategic alliances with major players in the construction industry.
Navigating the complexities of construction loans, which inherently pose challenges with extended settlement lead times compared to typical refinances or purchases, Steve's expertise shines. In the current business landscape marked by firms facing adversity, we inquired about Steve's concerns and his outlook on the future. Tune in to discover his insights and perspectives on these pressing matters.
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Missing episodes?
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In this podcast, I interview Ronald Pringle and Arun Gupta from Gateway Bank about their Green Pocket and Planet initiative and their commercial lending offering. Gateway Bank was the one of the first to offer a green home loan program in Australia, which rewards customers for investing in environmentally friendly, energy efficient housing. With the cost of utilities across the country jumping by 30% in recent months, a green home loan could save customers a significant amount of money on their running costs. Gateway Bank also offers a green loan program for commercial properties, helping businesses to finance the purchase or renovation of commercial properties with a loan that rewards them for their environmental commitment. If you are new to commercial lending, Ronald Pringle and Gateway Bank can help you through the process. We often think that commercial lending is different in that it is difficult, so why not chat to a bank that will guide you through the process rather than ask you to take a back seat?
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In this episode of the podcast, Peter White from the FBAA discusses the organization's recent milestones, including their 30th anniversary and reaching over 11,000 members. They also discuss the CBA's recent change in clawback policy and whether other lenders will follow suit. Finally, they talk about the FBAA's involvement in International Broker Forum, which will be held in Las Vegas for the first time this year. Lets also not forget their own annual National Conference on the GC at the end of the year! Hope to see you there!
Here are some of the key points from the podcast:
The FBAA is celebrating its 30th anniversary. The organization has grown significantly in recent years, reaching 11,000 members. The CBA recently changed its clawback policy, which could have implications for brokers. The first International Broker Forum in Las Vegas this year. The FBAA's national conference will be held in November. -
In this episode, we sat down with Abraham Mathew from Suncorp Bank to discuss their image turnaround with F&C Members.
In the past, Suncorp Bank had a reputation for slow turnaround times. This lead to frustrations and a few memes on here.
However, that has changed recently. Thanks to their new Suncorp Bank Sunlight offering, applications are now processed "at lightning speed" - if they fit the mould.
Quick turnaround times make brokers look great in the eyes of their clients, and it has also helped Suncorp Bank to attract new business and fans on F&C.
In addition to their fast turnaround times, Suncorp Bank has also implemented an Instant Pricing Tool and a new digital verification of identity process called SunVerify. This process ensures that your clients can verify their identity super fast.
Key Points:
Suncorp Bank has a new Suncorp Bank Sunlight offering that makes applications process much faster. Suncorp Bank has also implemented a new digital identification tool called SunVerify, ensuring a smooth verification process. Suncorp Bank’s new Instant Pricing Tool is the fastest way to find the best discretionary price for personal new lending – in matter of seconds. Speak to your Suncorp BDM to make sure its the business they want (Payg and Simple SE) to ensure a timely turnaround time for assessment.Have you jumped on the Suncorp train yet?
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In today's episode, we had the privilege of sitting down with the CEO of the Mortgage & Finance Association of Australia (MFAA), Anja Pannek. With her unique insights, Anja shared her observations on the industry and the association since taking the seat as CEO nine months ago.
We began by discussing the transformative power of Anja's role as CEO and the valuable observations she has made within the industry. From emerging trends to shifting dynamics, Anja provided a captivating overview of the ever-evolving landscape that brokers navigate daily.
Moving forward, we delved into the key challenges faced by brokers in the current climate and the proactive measures undertaken by the MFAA. Anja shed light on the association's relentless commitment to addressing these challenges head-on, ensuring that brokers are equipped with the necessary tools, resources, and support to thrive in their profession.
One notable aspect of the MFAA's work is its active engagement with the government. Anja provided a comprehensive update on the pressing issues the association is tackling in collaboration with policymakers. By fostering strong relationships and advocating for the interests of brokers, the MFAA plays a pivotal role in shaping policies that impact the industry as a whole.
To conclude the conversation, Anja shared her insights on the top three priorities brokers should focus on at present. Her expertise and strategic vision highlighted the critical areas where brokers can maximize their effectiveness and capitalize on emerging opportunities, ensuring their continued success in a dynamic and competitive market.
Prepare to be inspired and gain a wealth of knowledge as we delve into the fascinating world of mortgage and finance with the remarkable Anja Pannek, CEO of the MFAA. Let's dive into this captivating conversation and uncover the invaluable wisdom she imparts.
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In this interview, we catch up with Mandeep Sodhi, CEO of Effi, to learn about their recent developments since our last conversation 12 months ago. During this time, Effi has achieved SOC 2 certification, which means that more aggregators should, in theory, accept them as part of their ecosystem for brokers to utilize. SOC 2 places greater emphasis on how security principles are implemented to address relevant risks, particularly in relation to the services provided to customers.
We also delve into the fascinating topic of chat GPT and its potential to assist brokers. Mandeep, however, is quick to raise the issue of caution when interacting with such technology. After all, feeding it data raises concerns about data security. It is crucial to ensure that your data is protected. Amidst these discussions, we explore the functions of Effi and the partners integrated into their ecosystems. These partnerships not only help brokers promote their own brand but also enhance lead conversion through Effi's Lead Management platform and a range of other tools designed to streamline the process.
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In this interview, we speak with Anny Le Wilson, the Chief Revenue Officer of Joust, to discuss the topic of digital leads.
We begin the conversation by exploring what Joust has brought to the market over the past two years. Unfortunately, their offerings were often misunderstood by the market, with the focus primarily on their cheapest option rather than their superior "exclusive Leads" product which was more expensive. The adage "you get what you paid for" comes to mind here. The cheaper product will be phased out, as they recognised that it not only received unfavorable reviews from brokers but also provided a subpar customer journey for the individuals themselves.
This isnt uniquely a Joust thing, many brokers often attempt to purchase or acquire leads at the lowest possible cost, sometimes even resorting to overseas lead generation businesses that lack representatives in Australia. However, they frequently express dissatisfaction when these leads turn out to be unresponsive.
Lead generation businesses, in general, tend to have a poor reputation. But is the issue truly with the quality of the leads, or is it simply because brokers are not prepared to make immediate contact with the customers on the other end? By the time brokers eventually reach out to the leads, several hours may have passed, increasing the likelihood of dismissing a potentially valuable lead as insignificant.
As they grandfather one product they will be introducing a new one - leads that undergo a "warmed" handover, which, in theory, should significantly enhance the conversion rates compared to conventional methods prevalent in the market. Rather than simply sending an email or a list of leads to the broker, this new approach aims to establish a closer connection with the leads, thereby increasing the likelihood of successful conversions.
To find out more, click https://www.joust.com.au/partnership-opportunity.
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In our recent podcast episode, we had the pleasure of speaking with Ryan Gair, the CEO of Rate Money, about the market performance in the first half of the year. Despite facing some significant challenges, Rate Money has not only managed to weather the storm but also expand its franchise operations. Which highlights that there are opportunities if you look at it. Not only is the Fixed Rates producing opportunities for brokers in terms of refinancing business, but the changing landscape of how the Australian Taxation Office (ATO) is now stepping up its efforts to pursue tax debt has also opened the doors for more potential business. This development presents a unique opportunity for brokers, as it opens up a different customer potential and market. Ryan encouraged brokers to set themselves apart from the competition, particularly those who primarily focus on residential lending. The discussion sheds light on the dynamic nature of the market and the importance of adaptability. Ryan's insights and challenges to brokers underscored the need for innovation and differentiation in order to thrive in the ever-evolving lending landscape.
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In case you didnt know, the 2021 Tokyo Olympics are on. So it is timely we speak to someone who has been there and done that. They train very hard to be at the top of their chosen sport to represent their country at the ultimate sporting event. The level of discipline and determination is quiet frankly out of this world. Do these skills translate well after their days as an Olympian have past? This week we speak to Guy Callaghan about his story.
Guy represented New Zealand in the sport of Swimming for many years in the 1990s. He was part of their Olympic team to 1992 team to Barcelona and achieved Gold at the FINA SC World Champs in 1995. Everything was pointing to another place in the next Olympic games when the unthinkable happened, he failed to qualify! This was the beginning of his journey out of the pool (and New Zealand) and into another world that would eventually see him as Head of an exciting new SME Fintech in Australia called Banjo.
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In this Podcast we chat to Victoria Coster (CEO Credit Fix Solutions) about what trends she has seen, given lockdown meant a lot of people have lost their jobs/unable to work. All of this affected their debt repayment obligations and hence their credit reports.
However before we get into that, we start the conversation talking as working parents and about the complexities of WFH. Dealing with children, their mental health and of course screen time whilst running a business.
The mental toughness to deal with those things in the "covid normal" times that we find ourselves in has pushed some people to the edge. Yet Victoria's business relies on speaking to customers who have life events that push their credit reports into less than ideal areas where lending assessments are concerned.
So you would think that the strength to continue to take the next case and listen to sad stories day in and day out can have a drain on you. How does Victoria and her team do it? -
The word "innovation" is thrown about in media releases by a multitude of businesses including banks. But just how much innovation have you really seen? Since Gateway Bank was founded in 1955 with just one employee and a briefcase, they’ve always been pushing themselves to do business in the right way by being innovative.
Today, we’ve got Zeb Drummond and Arun Gupta from Gateway to clue us in on a range of innovations at Gateway and their accelerated commitment to their customer’s pockets and the planet.
Monthly LMI
First up is the monthly Lenders Mortgage Insurance (LMI) launched in collaboration with Genworth that has turned the whole home purchasing experience on its head.
Eco visa debit card
Traditional debit/credit cards are made from PVC which is petroleum based. Gateway’s Visa Eco Debit Card, on the other hand, is made from plants and kind to the planet.
Green Home loan Package
Gateway also developed two new green home loans with a competitive home loan rate to help you do your bit for the environment.
Both loans are Premium package loans with an annual fee, all features of premium products including 100% offset functionality
They’re currently only available to 80% LVR for owner-occupied purposes and offer a variable interest rate. They do also have the ability to be used for construction purposes, as long as it meets the environmental criteria for each loan.
“We want to do well from a planet perspective. The intention and the view here is a home loan rate with a discount to it as an incentive to help people on their way to be more environmentally-friendly and eco-conscious” – said Zeb
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It's not often we have someone so senior in a multinational Bank give a candid story about their journey in Finance. In this Podcast, we speak to Glenn Gibson (Acting Head of Retail Bank at ING Australia). We find out how he almost didn't have a career in Banking at all because he wanted to go on a school holiday over the Summer with his parents before he started work when he finished high school. He didnt want to work straight away!
Starting out as a Batch Clerk for the NAB and then rising through the ranks quickly (because he "was an ambitious little shit"), it wouldn't surprise many to see why he was so successful.
We also chat about his journey into the 3rd Party space and how he came to Head INGs Broker Division. No chat is complete without his thoughts on what he believes ING has done right by brokers where other lenders have failed - Turn around times. It seems so simple yet many lenders don't get it right. It was actually one of the first things he did when he first come there.
How does he stay so well connected to brokers? It just so happens that his wife has run a broker franchise for many years. One of his daughters has also started her own brokerage after spending time working in her mum's business. They definitely help him keep his ears to the ground about what the industry is concerned about. Unfortunately his other daughter, who doesn't work in finance, must be bored out of her mind during family get-togethers!
A Senior execs who posts on Social Media with a personal touch? you wont find many around. Usually their accounts are run by the Bank marketing department and the posts are very "company line" devoid of any personality. Not so with Glenn. - "Because It's Friday" posts are fantastic on LinkedIn. If you are looking for some really great tips on where to go to eat or drink, definitely follow him and watch out for his post. As he does ALOT of traveling around Australia, Glenn is in a unique position to find some great spots for your next social or business meetup.
https://www.linkedin.com/in/glenn-gibson/
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Its not often we have come across someone who was a former credit analyst (assessor) who took a leap of faith to the broker side.
In this Podcast, we chat with Joel Dieu about what prompted his move from SA to VIC - it was for love. Why he eventually came to realise that his career needed a little reset after working for some of the biggest lenders in Asset Finance. His move to become a Broker. His overwhelming deep aspiration to be more involved with helping customers; the enjoyment of the whole process: the sheer amount of labour it takes to get to finalisation of a loan application.
Joel believes there’s a happy middle ground where you have the freedom to work in your own time and on your own terms but also try not to get caught up in your own vision and ego.
Get your ears around this fascinating podcast episode for some practical wisdom from Joel.
Check out his work over here:
https://www.dreamcatcherfinance.com/about-us
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17 years ago Anita Marshall, started her mortgage broking business as a one woman show in her spare bedroom to try and make a better life for her son as a single mum. She was told by an uncle (who was a broker himself at the time) that she was crazy and not to do it. However she was determined and it turned out to be the best decision she ever made.
Starting out in the travel industry and then for a credit union and struggling to make ends meet. The broking industry appealed to her as it was one where she could work around looking after a small child. Being there for school pickups/drop offs and much more was something she would not have been able to do in a 9-5 role.
Whilst her business has changed a lot over the years. She now has an office and small team in NSW whilst she lives in QLD. Technology has allowed her to continue without much interruption. She now no longer has to take regular trips from the Gold Coast and back for business! . You can tell from her voice that she still loves the crazy industry - "It’s the toughest I’ve ever known right now to get loans approved with the paperwork red tape nightmare but I’m confident it will get easier again".
She worked her ass off to make it happen ( and still does ). But most importantly she finds time to provide advice and guidance to strangers she has not met before.
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A little chat with Luke Phan, Bluestone's Head of Product. Here at Finance and Coffee we love chatting to folks about their job and it's not very often that we get to sit down with a Head of Product. It’s a pretty cool job title but it’s one Luke Phan gets to live out everyday. Luke’s interest in finance started at a young age when he was helping his parents to run their family business. He was hooked and became passionate about helping people achieve their financial goals. In this episode, Luke talks us through his path from his first graduate role to working in product management for the last 15 years. These days, Luke spends his time experimenting with product design, doing broad research and looking at alternative solutions to help customers faster than a bank can. Curious about the scope of products they have at Bluestone and future projects? Have a listen to the full story and keep up to date with our future podcasts by subscribing through Spotify or Anchor.
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In this episode, we picked the brains of James Angus, Chief Customer Officer from Bluestone, finding inspiration around the success of this fast-growing lender, just for you. James offers us an inside look at the changes made and the principle in which Bluestone sets their values around to do things that a lender like them has not done before. That brings us to over 30 policy changes in the past year that make the entire community sit up and take notice. They ticked those off and even built a full suite solution for Australia’s leading aggregator Connective to give their brokers a competitive advantage. Bluestone doesn’t get bogged down when the pandemic comes along – they pulled up their socks and just got on with doing the simple things well to help brokers and their customers. Tune into this episode for the full lowdown.
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Growing up on the family farm (in which his brother now runs) to working for the largest bank in the world (at the time), to running his own Mortgage Management Company. This is one human's journey into finance that you definately want to listen to.
In this Podcast, Dien speaks to Murray Cowan about the ups and downs of the industry he has been in for over 30 years. Starting a Mortgage Management Business when it was sexy to do so, to surviving the GFC and now Thriving!
But, by no means was it an easy gig, and the mentality to sell the services of a mortgage manager to everyday brokers is definitely different from a BDM working in a Bank. How did he do it? What does it that for his sales team to also do? and most importantly, why should a mortgage broker consider using a mortgage manager in the first place?
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Venturing out on your own is super-scary for many people, but it’s a decision that’s paid off for Czech-born back office solution expert Petra Novakova. We’re chuffed to have Petra in the hot seat to tell us how she built her kick-ass business Koruna Assist from the ground up. Long story short, Petra came from the Czech Republic and has spent her life living in England, Asia and Australia. Having started off working in offices for several finance institutions, Petra felt something was missing, deep down, she knew she wanted to do more. Petra decided to believe in her own ability and take a leap of faith. She now spends her days looking after her team of offshore virtual assistants and helping business owners outsource and free up 20-30 hours a week. So if you’re ready to down some inspiration in one gulp, tune in to find out more about Petra Novakava and her amazing life story.
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How often does someone on the Credit/Risk side make the move to Sales?
The mentality is totally different. Whilst one waits to have a file passed to them to check if all things meet the requirements so as not to "harm" the lender they work for, the other is constantly out there hunting for new business, facing not only rejection but the pressure of sales targets. Dealing with credit and customers at the same time. In this Podcast, Dien speaks to Marco Symons about his accidental journey into finance. First as a credit analyst, then his move into sales. How his Father played an influential part in his mental toughness and business savvy.
We chat about his journey from Employed to Self Employed. Often times Finance Brokers entering industry start out in residential lending before they dabble in the commercial space, not so for Marco Symons who has taken the leap by doing the opposite. Have a listen to the podcast and find out why this was the case.
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