Brokers embrace digital innovation in face of COVID-19

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The full impact of the COVID-19 outbreak on Australia’s housing and mortgage market remains uncertain, but mortgage brokers are embracing new ways of working more virtually to protect their business as the industry braces for national isolation, according to Connective.

Connective, Australia’s largest mortgage aggregator, has revealed that its brokers have quickly embraced new digital ways of continuing to learn and to grow their business in unprecedented times with registrations for the newly adapted digital learning and development program soaring by an average of 30% in March, with some virtual events seeing a 400% increase in registrations.

Connective quickly adapted to the challenges that COVID-19 has presented and moved its entire L&D program, along with all client meetings, into a digital environment last week. The full program of award-winning L&D content is now being delivered digitally both live and on demand, with CPD points still allocated for these sessions where relevant.

Mark Haron, Connective Executive Director, said, “We recognised that the strength of our technology platforms, our agility, and our commitment to deliver resources to allow brokers to seamlessly continue to service customers and connect with prospective clients in these unprecedented times, was going to be critical.”

“We are thrilled to see that in moving our L&D program to a completely virtual offering we’re connecting with more brokers and helping them to improve themselves and their business.

“The success of our transition is shown in our registration numbers which have well surpassed many of the live events. It’s important to us that we rise to this challenge when members need us most, and we’ve had great feedback from members on the support we’re offering, which we’re very proud of.

“We recognise the need to be there for our members through as many channels as possible, which is why we’ve always held the capability to operate in a fully digital environment. We plan on re-running some programs as a physical event at a later date, but for now we’re focused on continuing to deliver the content and insights to our members as efficiently and effectively as we can,” Mark said.

The aggregator has also provided members with regular updates and guidance on how to work remotely more effectively and developed tools including email templates for brokers to send to clients on topics including:

  1. Reassurance that brokers are open for business;
  2. Broker support available for those experiencing financial hardship
  3. The benefits of refinancing; and
  4. Instant asset tax write-off.
  5. Overview of current COVID-19 status
  6. What COVID-19 means for our industry and brokers
  7. Support available from government and lenders for you and your customers
  8. What we're doing to support you
  9. Resources available to you and your customers

“We will continue to provide our members with guidance and resources to assist them as they adapt their business to the rapidly changing COVID-19 landscape. We’ll be hosting a weekly interactive webinar on the state of the industry share updates on issues, such as the Government’s most recent economic package of $66.1 billion in economic support for households and businesses, including up to $100,000 for small and medium-sized businesses in order to pay their bills and retain staff.”

“Wherever possible, we will work to support our members in facilitating meetings online and ensuring they are as informed as possible on the evolving situation, including where we’re at, where we’re going and how we plan to get there.” said Mr Haron.

Connective has also urged its network of over 3500 brokers to stay up to date with information relating to their personal wellbeing and the wellbeing of their clients through this hard time. They will be providing regular updates and regulatory guidance as the crisis continues.

“We are and will continue to refer to the Australian Department of Health, and relevant State Departments of Health, as we observe the evolving situation. We will be passing on updates to our members, but we urge everyone to listen to the advice of these authorities and to support each other through this challenge,” said Mark.


Important Information:

Connective is hosting a weekly interactive webinar on the state of the industry during this time of uncertainty, hosted online by Mark Haron, Connective Executive Director, Director of MFAA, Deputy Chair Combined Industry Forum. This week’s webinar, open to all members of the industry will include:

The next webinar will run for an hour from 3pm to 4pm this Thursday, April 2. You can register for the webinar by clicking on the link below.

Media Contact Details:

Matthew Lee

M: 0411 193 412

P: 02 9237 2811