Four years and counting as broker bank of choice

Good things might come in threes, but when it comes to industry recognition, surely four is better. At least that’s how Wendy Brown, head of broker sales at Macquarie Bank, must be feeling.

Macquarie Bank clinched the number one spot in MPA’s Brokers on Banks survey for the fourth time running in 2025, an achievement that Brown calls “a great testament to the work our teams are doing ... this win is a vote of confidence for our whole team and espe­cially resonates as it’s voted for by brokers”.

As she discusses the win with MPA, it becomes clear that the relationship Brown and Macquarie Bank have with brokers is particularly strong. Though, to be honest, the data speaks for itself – while 70% of home loans originate via the third party channel sector-wide, that number is closer to 90% for Macquarie Bank.

But not content to rest on their laurels, Brown and the Macquarie Bank team have spent the last 12 months refining their ‘always on’ approach to feedback to get to the heart of what brokers need. The mani­fold ways the team has achieved this include upfront valuations, digital ID verification and integrated liabilities matching, all of which serve to streamline the application process and speed up approvals.

This strong emphasis on understanding what brokers truly want resulted in Macquarie Bank not only taking home the Brokers on Banks gold but also coming out on top across four survey categories, namely brand trust, online platform and services, product range and turnaround times.

Brown says: “We’re pleased to hear that the enhancements we’ve made to the broker and customer experience, including a range of new technology and features for brokers and their support staff, are being well received.

“All of these categories tie back to our partnership approach with the broker market – any updates we make are made with brokers front of mind, and we look forward to working with our broker partners in the year ahead.”

Going for brokers

Brown clearly holds the broker channel in high esteem and sees it as a critical compo­nent of the mortgage finance supply chain.

“We truly believe that the broker industry delivers positive outcomes for customers because of the depth of knowledge that a broker brings to the home loan journey,” she says.

“There’s no doubt that a strong, vibrant broker industry benefits the home loan market – from increased competition to greater accessibility for homeowners.

“For customers, this means that regardless of where or how they live, brokers can provide consumers with access to a broad range of products and services that best suit their specific needs. From a Macquarie perspec­tive, by listening to broker feedback and acting on it, we continuously improve our offerings, which ultimately provides a better experience.”

When it comes to advocating for the value of brokers, the bank likes to make its voice heard. This, notes Brown, is particularly prevalent in Macquarie Bank’s ‘Speak to your broker’ advertising campaigns.

The simple things, too, like staying open for business over busy holiday seasons and making continual improvements to the broker portal, go a long way in fortifying the broker-lender relationship.

Brown says, “We have a strong feedback mechanism with brokers, and this has been instrumental to how we do business at Macquarie and our ability to innovate.

“We also use a range of data insights to gain a deeper understanding of our clients and brokers, delving into their needs and wants, so that we continue to be a true partner to the channel.”

Peace of mind

Technology is great, but instilling confidence in brokers that they are sharing sensitive information in a secure environment is a critical component of maintaining trust and credibility. Brown says this has been a key area of focus in developing Macquarie Bank’s broker portal. For instance, in the past year the bank introduced a real-time live chat platform with its assessment teams, as well as secure access to the broker portal for support staff so they can safely collabo­rate with brokers.

But the application that Brown is most proud of is Macquarie Authenticator, a sophisticated verification mobile applica­tion designed with the safety of brokers and customers in mind.

Brown teases more innovations in the pipeline. “We’re dedicated to continuing to innovate in this space and will be launching into the market exciting new functionality that allows brokers and their support staff to securely upload additional documents directly to our assessment teams.

“This now means that brokers and their teams can keep track and manage applica­tions through to settlement with total trans­parency all in the one location – the Macquarie Broker Portal.”

Eye on the prize

At the centre of everything Macquarie Bank does – whether leading the pack in broker technology, listening to and acting on broker feedback, or delivering market-leading turnaround times – is its commitment to making the bank the best of the best in the broker channel.

Clearly, this has not gone unrecognised, given the lender’s remarkable Brokers on Banks winning streak. Is win number five on the agenda?

In Brown’s view, Macquarie Bank will simply keep doing what it does best.

“As we look ahead to 2025, we’ll continue to strategically identify opportunities where we see that technology can drive the biggest impact and efficiency gains for brokers and their support staff.

“Our North Star this year is to continue driving efficiencies for brokers and their businesses by investing in cutting-edge tech­nology to streamline the application process and speed up approvals with one-touch files.

“I’d like to thank all of our broker partners out there for their ongoing support and the time that they provide in sharing their valu­able insights with our teams.”