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Announced today, the latest Broker Pulse: Commercial Lending program will create engaging content that showcases the expertise of commercial brokers, reinforcing their role as key players in the financial landscape.
The monthly voice of broker program interviews hundreds of mortgage and finance brokers, alongside commercial brokers, to collate their expertise and experiences to create a community-driven knowledge base for brokers, lenders, media, and regulators.
Partnering with the Commercial & Asset Finance Brokers Association of Australia (CAFBA) and technology and data provider Lend, the new initiative will seek to build a reliable and consistent platform of insights for brokers to benchmark their commercial activity and for lenders to compare their proposition to the third-party channel.
Following the success of the Broker Pulse: Residential Lending program, which has highlighted lender service levels through broker feedback since 2019, this new initiative promises to bring significant changes to the commercial broking sector.
Michael Johnson, director of Agile Market Intelligence, emphasised the program’s potential: “Our goal is to create a feedback-rich environment that drives improvements across the industry and highlights brokers as leaders in lending and business confidence."
Benchmarking broker activity
The program will provide CAFBA with important industry data and sentiments, enabling them to advocate effectively for brokers’ interests and influence policymakers and regulators.
The monthly report will benchmark settlement activity across a range of commercial loan categories while capturing commercial broker sentiments and indicators for forward estimates on loan settlements, business confidence, and health.
CAFBA CEO David Bushby welcomed the industry information the program would deliver: “CAFBA is a highly effective advocate for the interests of its member brokers. Access to this program’s data will take that to a new level as we utilise it in our dealings with decisionmakers to identify educational and professional development needs of our members and to better understand the issues that are important to them.”
Service level insights
A key feature of the Broker Pulse: Commercial Lending program is delivering useful insights to lenders. This information will help close feedback loops with lenders, encouraging better performance and competition, ultimately improving client service and driving market innovation.
“In an increasingly competitive marketplace, commercial brokers need visibility over which lenders are ‘open for business’ and offering brokers the best service levels … this new program gives us the ability to offer brokers and lenders a clear, bird’s-eye view of the entire market, every month,” said Johnson.
Commercial product trends
A critical part of this program involves leveraging aggregated product demand and trend data from Lend. This data will offer the ability for lenders and brokers to monitor trends in key product categories as the appetite and competition among commercial lenders evolve.
The Lend platform creates additional revenue streams by unlocking the customer’s lifetime value and offering real-time market intelligence across various products and verticals. This levels the playing field between brokers and financiers, allowing brokers to make more informed decisions and speed up loan approvals with higher conversion rates.
“This is about putting brokers and their customers at the centre of the conversation by enabling brokers to do what they do best. Guiding their customers to optimal financial outcomes through informed and supported decisions and data. We are excited by this and it stands very much for what Lend is all about,” said Andrew Beckett, head of broker and third-party distribution at Lend.
Bushby added: “Access to the program’s data will also better equip our members in their dealings with their clients and lenders, as product category trends and lender appetite are revealed. The more information brokers have, the better they are able to ensure their clients are offered the best and most appropriate finance options.”
Getting involved
By participating in the monthly surveys once every three months, brokers can remain active members and enjoy benefits such as insightful reports and monthly prize draws.
These insights can help brokers benchmark performance, inform their teams, and improve interactions with lenders.
For further details, visit brokerpulse.com.au
About Agile Market Intelligence: Agile Market Intelligence specialises in creating impactful programs by combining market research best practices with a focus on people. Their initiatives aim to foster conversations and drive change across various sectors.
About CAFBA: The Commercial & Asset Finance Brokers Association of Australia (CAFBA) represents commercial and asset finance brokers, advocating for their professional growth and industry recognition.
About Lend: Lend is a technology company that today provides a market-leading broker CRM to commercial and asset finance brokers. Lend’s community-based approach to developing broker technology has rapidly positioned it as the leading technology solution for commercial and asset finance brokers.
For more information, contact:
Michael Johnson
Director, Agile Market Intelligence
David Bushby
CEO, CAFBA
Andrew Beckett,
Head of Broker & Third Party Distribution, Lend
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