Highlights from 2018's major bank research
Due to the 2016 Third-Party Lending Report where ANZ finished third out of the four major banks, ANZ was able to redeem a vast number of areas where brokers thought they were under par and finish on top in 2017.
The Third-Party Lending Report is the report to turn to in regards to the performance of the banks. Brokers fill out a survey on the performance of the banks in regards to a set of metrics. These metrics are ranked from 1-5 with 5 being the highest, this score from the broker has an effect of the amount of flows a broker can bring to a bank if they feel their performance is declining.
The increase in sentiment from brokers had a direct impact of the volume that the brokers brought in, increasing from $33.8bn in 2016 to $37.52bn in 2017 as well as an increase in the broker channel with an increase in 52% in 2016 to 56% in 2017.
From the survey done in 2017, the increase in broker sentiment had a correlation with the increase in flow of broker volume. The increase from the 2016 to 2017 Third-Party Lending Report showed that providing the banks broker sentiment led to lenders knowing the areas to work on which has in turn led to the increase in volume from brokers with the fixes in place.