"ANZ is committed to providing top quality service to both you and you customers," the bank says in its advice to brokers. "Our service proposition has substantially improved and we would like you to experience it." The $300 promise lasts until the end of the year.
Head of mortgage distribution Brian Robb says the bank has "upgraded our focus in this area," with measures that include having designated sales managers to deal with broker inquiries.
"We’re definitely keen on attracting more broker business," Robb says.
ANZ already has a customer charter which promises a 48 hour turn around on mortgage applications. "If we’re really serious about it, we have to look to raise the benchmark continuously."
Robb says the bank has substantially changed its processes "and how we interact in certain areas" to ensure it can meet the 24 hour-commitment and its internal target is substantially less than 24 hours.
So, how much has ANZ had to fork out on the promise so far? "It’s too early to say, but we don’t plan on paying off anybody," Robb says.
