Broker Pulse turns four

The leading survey that allows brokers a bird’s eye view of lender performance is celebrating its fourth anniversary this month.

Momentum Media’s research arm Agile Market Intelligence (formerly Momentum Intelligence) is proud to mark the four-year anniversary of Broker Pulse.

The knowledge-sharing initiative was launched in September 2019 in partnership with eminent mortgages brand The Adviser to ensure brokers have a finger on the pulse on how their peers are rating the performance of over 30 major banks, non-major banks, and non-bank lenders through comprehensive reporting in an easily digestible format every month.

The survey – which has grown to a database of over 275 respondents a month – asks Australian mortgage and finance brokers to share their ongoing experiences with the lenders they recommend to their clients.

Collecting this information every month provides brokers and lenders with a unique understanding of the competitive market in which they operate.

Lenders actively listen to and encourage transparency between them and broker respondents.

Each month, the feedback and insights brokers supply are conveyed to lenders, who strive to improve their service and product offerings to deliver an enhanced experience for brokers and their clients.

Agile Market Intelligence and The Adviser launched the survey four years ago to champion the voice of brokers on a regular basis.

As a result, brokers can access a superior knowledge base that provides ongoing peer-to-peer insights into the collective experiences of hundreds of brokers with lenders.

The survey series aggregates broker experiences every month to shine a light on how lenders are performing in the third-party channel.

On the first day of every month, broker respondents are asked to rate lenders across several key metrics to track any changes in their performance.

Key performance indicators include measuring broker satisfaction with lenders across the application, assessment and settlement stages, their business development managers (BDM), and the number of business days taken to reach an initial credit decision (turnaround times).

Simultaneously, the survey offers lenders a window into their monthly performance as well as feedback on how they could improve their service offerings.

The results are delivered to brokers and lenders a week after the survey opens.

Several brokers have provided glowing reviews of the Broker Pulse initiative, with one broker stating that the deep insights and survey reports present an opportunity for them to review their lender preferences on a regular basis to beat their competitors while providing optimal solutions for their clients.

Another broker called Broker Pulse the leading independent repository on lender performance, adding that it plays a key role in managing best interest duty to ensure that their brokerage considers the entire panel of lenders and understands each lender’s niche.

A third broker stated that the Broker Pulse research saves valuable time in conducting their own research to stay abreast of each lender’s performance and extrapolate results.

Commenting on the four-year milestone of Broker Pulse, Agile Market Intelligence director Michael Johnson said:

A spotlight on lenders

To mark the four-year anniversary of Broker Pulse, Agile Market Intelligence will shortly launch a lender spotlight series that will deliver a comprehensive view of the performance of individual lenders over the long-term.

The profiles will track turnaround times, broker usage, satisfaction ratings, while brokers will hear directly from lenders about the factors that contributed to their performance, and strategies they would implement to improve outcomes for brokers and their clients.

Agile Market Intelligence will release this soon so keep an eye out for it.

To participate in the five-minute monthly Broker Pulse surveys and keep your finger on the pulse, click here.

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