Future of Mortgage Broking / Australian Broker

The gift that keeps on giving. I recently did an Australian wide, 5 city keynote tour (plus 1 virtual keynote), exploring the Future of Mortgage Brokers (yeah, very timely) and had compiled my foresight’s and list of recommendations long before the recent commission and media started their comments and am happy to say that my advice still stands: “be human, stop giving customer service and instead provide extraordinary customer experiences”.

Anyway, it must have hit a chord, because parts of my keynote ended up being quoted in this recent article in Australia Broker…

A leading aggregator has highlighted the importance of quality customer data to support brokers in building successful businesses with great customer service.

CEO of Choice Aggregation Services, Stephen Moore, said it was necessary for brokers to have strong, in-depth conversations with their clients to obtain a full picture of their needs and deliver the best possible service and outcome.

Moore, who is also the Chair of LIXI, the industry Data Standards Board, said collection of the right client data, ongoing data management and security, have never been more important.

Speaking at Choice’s annual Business Development Days, he said: “Brokers are in a unique position. Typically, they are closer to their customers than anyone else in the lending market. Not only do they know about ‘hard’ data e.g. their financial situation, but also ‘soft’ data, which can be even more important, including things like clients’ aspirations, their family situation, what is important to them and so on. This combination of hard and soft client data is invaluable. It is the new black.

“A comprehensive approach to data management can support brokers to deliver the highest quality applications, as well as build more trust with both their customers and lenders.”

On Comprehensive Credit Reporting (CCR) and Open Banking, Moore said he believes these will have an overall positive impact for customers.

He added: “A more holistic picture of a customer’s credit situation will assist to tailor credit to their individual circumstances. It also allows clients to proactively address any credit concerns and, with client permission, brokers have a key role to play here too.

“We expect Open Banking to further drive lending competition, which will be a positive for customers and brokers. Coupled with their existing knowledge of client’s circumstances, brokers will be in the box seat to provide valuable advice to clients in a more efficient way.”

Held across five major states throughout March, Choice’s Business Development Days also featured panel discussions with some of Choice’s leading brokers, in line with Choice’s ongoing focus on peer-to-peer learning.

The events also featured a presentation from Business Futurist Morris Miselowski, who said brokers are ‘Finance Futurists’, and advised them to think about their role as assessing and providing for the future with every loan they provide.

Mr Miselowski also spoke about changes in the broking sector and encouraged them to ‘future proof’ their businesses by understanding and leveraging new technologies without forgetting the importance of their human touch.

He added: “Let’s move away from thinking about the ‘rate’ of change and look at the ‘range’ of change that surrounds us. The population in Australia is growing, life expectancy is constantly rising, our financial intimacy is growing, we’re surrounded by technology, artificial intelligence and blockchain, the list goes on.  But what remains constant is that we’re in a people’s business and people love getting advice from a person they can see and trust. Keep humanity at the front and centre of everything you do.”

read orginal article: HomeNews by Rebecca Pike18 Apr 2018

Future of Sport, Athletes and Spectators / ABC Far North, ABC WA Drive, Hong Kong 3

With the Commonwealth Games as a backdrop of sporting excellence, it’s a great time to look ahead and ponder what the future of sports, athletes and spectators might be, do, train, watch and enjoy in the next few decades and in my #FutureChat media segments this week we explored:

  • Tomorrow’s hyper advanced athletes’
  • Globalisation of sports
  • Holographic players and athletes in our stadiums and homes
  • Athlete training technology
  • Extreme / assertive sports
  • Gender rebalance in sports
  • Sport robots and games
    and asked
  • how much further can we push our bodies?
  • what the role of technology is in future sports and how close to some of these
  • imminent advancements come to doping and tampering?
    A great topic, have a listen and let me know your thoughts and what your most looking forward to in Future Sports.

ABC Far North, Kier Shorey, 16 April 2018, 10 mins 17 secs