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Commonwealth Bank has a very clear and well understood channel parity policy that has virtually eliminated channel conflict, Kathy Cummings has claimed.
Following growing concerns among brokers that the increasing competition between the majors is leading to greater channel conflict, the CBA executive general manager for third party and mobile banking said the bank's mutual charter agreement with its branch network encourages and rewards a "win-win" approach for CBA's brokers, customers and branches.
Speaking to the MortgageMix, Ms Cummings said central to the mutual charter agreement is CBA's CONNECT referral program.
"This program brings branches and brokers together to fulfill the total financial needs of our broker customers in regard to the cross-sell of non-home loan products."
Meanwhile, other lenders have responded to the concerns by claiming they are as transparent and supportive of the broker channel as ever - and any incidents of channel conflict have been isolated cases.
Fee-for-service "strategically worthwhile" says CBA's Kathy Cummings - Strategically it would be worthwhile for brokers to work a fee-for-service into their business models, Kathy Cummings has said.
Confidence not solely to blame, says top mortgage broker - It isn't just consumer confidence holding the new home building sector back, AFG's Mark Hewitt has said, it is also the availability of attractive finance options.
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