People power: The changing face of customer-owned lenders
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The mutuals have undergone a huge amount of change in the past year, with lenders merging, new tech being released, and brokers highly rating their experiences with them.
In December 2020, as Australia was closing off one of the most disruptive years on record, the Customer Owned Banking Association was holding its annual conference. It was here when the deputy chair of the Australian Prudential Regulation Authority (APRA), John Lonsdale, warned that change may need to come in the mutual bank space in order for the sector to survive.
Noting that the coronavirus pandemic had resulted in a (somewhat short-lived) economic downturn and increased the need for lenders to have a digital offering, Mr Lonsdale suggested that a large number of the small banks – and not only mutuals – have business models that were “challenged” in the current environment.
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Mortgage Business LATEST PODCAST: Tracking mortgage sentiment By Robyn Tongol 21 December 2020
The Mortgage Business Uncut podcast is your weekly analysis of the biggest themes shaping the Australian mortgages market.
Join Alex Whitlock and Annie Kane as they talk to the head of strategy at Momentum’s research arm, Momentum Intelligence, about the work being undertaken to gauge sentiment towards the mortgage process.
Whether it be understanding what brokers think of the banks, tracking sentiment around the ease of use in the application process, or navigating what borrowers and non-borrowers think of the mortgage process, Momentum Intelligence has been hard at work this year collecting and analysing data to help keep the third-party channel informed and ahead of the curve.