When service equals success

IN Partnership with

Personal service combined with technology is keeping a rare breed of traditional business lending alive for Equity-One’s broker and business clients

WHEN EQUITY-ONE was established in Melbourne over 20 years ago, the non-bank lender, which connects SME borrowers with investors via its ASIC-registered Managed Investment Fund, had a clear vision for delivering simple finance products together with traditional and personal service. Despite facilitating over $2 billion in finance since then, and welcoming new parent company Westlawn in 2022, the fund has not forgotten these roots. In fact, at a time when lenders are fast embracing the benefits of technology, Equity-One believes personal service is as critical a differentiator as ever.

Based in Melbourne, Equity-One is a public non-listed financial institution with almost 30 years’ experience specialising in both investment and finance. Equity-One is a commercial lender providing secured investments, attractive interest returns to investors, and fast and competitive finance solutions to borrowers.

Find out more

Dean Koutsoumidis, Equity-One

Equity-One’s vision has always been to provide finance for SMEs that are bank quality but may not be bank ready. The fund does this by providing these businesses with fast decisions on first and second mortgages as well as commercial loans, on interest-only terms of between one month and three years. A key differentiator for Equity-One is the way it aims to service these customers and the brokers who introduce them. The non-bank lender aims to bring the best of old-fashioned service into a digital age, across a range of levers like loan writer access, pricing, loan terms and settlement time frames.

Dean Koutsoumidis, Equity-One

Koutsoumidis founded the fund and has served as managing director ever since. He says Equity-One’s service culture has been driven by its management team, who have established a unique repertoire of skills and experience that enables the company to be attuned to customers and present in each interaction. “As a non-bank lender, we need to have perpetual relevance for our customers,” Koutsoumidis says. “The formula they look for is a combination of pricing and the ease with which we can deliver the settlement for them. Our brokers, too, depend on us for a seamless transaction for their clients. This is still as important today as it was when we started business,” he says.

Equity-One’s focus on customers and service has seen it take a nuanced approach to the application of technology over the last few years. When digital and non-digital procedures are used well hand in hand, the team believe they can create both a smooth lending process and a better customer experience. “It is well known the technological advancements in the last decade have significantly benefited the industry, such as the digitisation of application submissions, identity verification and the introduction of electronic signatures, as we gradually step away from wet ink,” Koutsoumidis says. “While we have benefited from the digitisation of lending processes, we take the time to consider what remains ‘traditional’ and what is digitised; just having a digital option doesn’t mean it’s always the best choice for every situation. Equity-One is very mindful of how we incorporate digital procedures into our operations so that we don’t eliminate traditional methods that still offer value.”

Digital literacy is one factor Equity-One weighs when deciding how to utilise technology. Fluency with digital varies widely and can make it difficult for some to gain an advantage from digital options. “Often, we find getting on the phone is the most efficient way of establishing contact,” Koutsoumidis says. “If brokers have a scenario, they often tend to prefer a call rather than an email.” However, Equity-One adopts technologies where it matters so it can remain adaptable through change, whether that’s a global pandemic, growth in its team or coming together with Westlawn. “With a changing economic climate, we need to be responsive to external policies and events that shape how services are delivered to both borrowers and brokers. Our approach is to not see digital as an opposing force to a traditional one; instead, it’s about finding a balance between processes better suited for digital formats and those that are more effective when dealt with by our staff,” Koutsoumidis says.

“We’ve stayed true to our vision and style of service delivery. We offer simple solutions lending and personalised service for brokers and clients”

“Often, we find getting on the phone is the most efficient way of establishing contact. If brokers have a scenario, they often tend to prefer a call rather than an email”

Personal service combined with technology is keeping a rare breed of traditional business lending alive for Equity-One’s broker and business clients

For Equity-One, this means being clear on the role of technology. “Technology, and the efficiency it provides, are simply tools; they are not what we represent,” Koutsoumidis says. “Our relationships with our brokers and the outcomes we offer their clients are still the front and centre of our focus.” Equity-One’s approach is in demand. The 2024 State of Customer Experience Survey from CPM and Swinbourne University of Technology found that most Australians see customer service excellence as “high-quality consistent information and access to knowledgeable human representatives”. While open to the benefits of digital channels, 77% of Australians said their preferred contact channel for complex enquiries was speaking to a human on the phone. A company website or FAQ page was the preferred channel for 44% of those surveyed if they had a simple enquiry.

58%

Australia’s rising customer service expectations

Source: CPM and Swinbourne University of Technology 2024 State of Customer Experience Survey

When Equity-One became part of finance and insurance firm Westlawn, this heralded opportunities for both groups. For Equity-One, one particular advantage was a potential expansion in the distribution of its products through Westlawn’s NSW branch network across the Northern Rivers region of the state. While there are plans to expand its product set in the future, for now, Equity-One’s focus is on growing its presence in all states of Australia. “There is a strong demand for dependable non-bank lenders who can combine experience with an outlook for opportunity and growth,” Koutsoumidis says. Just as in the past, future growth will underpinned by a commitment to each broker and customer the company serves. Koutsoumidis says that will be the same whether the service is digital or in person. “We aim to fund a transaction in as timely a manner and in as seamless a way as possible. While the method of communication and execution of documents has evolved to become digitised, and therefore more efficient in some cases, the core mission remains unchanged,” Koutsoumidis says. “All we try to do is be relevant to our brokers and borrowers one deal at a time.”

IN Partnership with

Custodians of tradition

Making technology count

Relied on for relevance

Published 14 Oct 2024

Advertising

Authors

E-newsletter

Australian Broker Talk

Events

White papers

Webinar

Australian Broker Talk

Resources

Sector Focus

Power Panel

Independent Feature

Executive Team Profile

Exclusive Leader Profile

Business Update

Business Focus

Big Deal

Premium Content

Technology

Reverse Mortgages

Investment Loans

Specialist Lending

SME

Commercial

Specialty

Best In Mortgage

News

RSS

Sitemap

About us

Conditions of Use

Terms & conditions

Firms

People

Advertising

Authors

E-newsletter

Australian Broker Talk

Events

White papers

Webinar

Australian Broker Talk

Resources

Sector Focus

Power Panel

Independent Feature

Executive Team Profile

Exclusive Leader Profile

Business Update

Business Focus

Big Deal

Premium Content

Technology

Reverse Mortgages

Investment Loans

Specialist Lending

SME

Commercial

Specialty

Best In Mortgage

News

RSS

Sitemap

About us

Conditions of Use

Terms & conditions

People

Firms

Advertising

Authors

E-newsletter

Australian Broker Talk

Events

White papers

Webinar

Australian Broker Talk

Resources

Sector Focus

Power Panel

Independent Feature

Executive Team Profile

Exclusive Leader Profile

Business Update

Business Focus

Big Deal

Premium Content

Technology

Reverse Mortgages

Investment Loans

Specialist Lending

SME

Commercial

Specialty

Best In Mortgage

News

RSS

Sitemap

About us

Conditions of Use

Terms & conditions

People

Firms

100

2016

2024

92%

56%

83%

49%

78%

58%

76%

Access to correct information

Consistent information across digital and human interactions

Accessing knowledgeable representatives

Access to human representatives

Q: How important are the following factors when it comes to delivering excellent customer service?

Digital interaction

Human interaction

Consumers prefer human service over digital

“Equity-One are a long-standing player with an approach to lending that has been tried, tested and refined,” says managing director Dean Koutsoumidis. “We’ve stayed true to our vision and style of service delivery. We offer simple solutions lending and personalised service for brokers and clients.”

38%

62%

Source: Qualtrics Global Consumer Trends Report