Salestrekker 2.0 has the ability to distinguish finance broker accreditations to:
Recognise premium lender agreements (vs. standard);
Understand which brokers have a BID (Best Interest Duty) exception.
The result is that, if lender accreditation are set up correct the system will provide more accurate personal and asset finance rates and commissions.
Premium Lender Agreements
Finance brokers can have their lender accreditations accompanied with the acknowledgment that they have a premium status with given lenders.
When adding asset finance or personal loan lender accreditation, users need to select an option "Premium or Finance Broker" in the accreditation screen:
All lenders with premium accreditations will be visible in the accredited lender list:
BID Exceptions
By having a home loan accreditation, system will automatically assume that a finance broker falls under a BID regime. However, this might not be the case, as many Asset Finance/Commercial lenders require brokers to hold Home Loan accreditations as well. To counter this issue, we have added another checkbox on Home Loan lender accreditations that needs to be selected on all Home Loan accreditations in order to take a desired effect:
Note - if any Home Loan accreditations don't have this selected, system will assume that broker falls under BID regime, eg:
Typically only users with Master Admin permissions (i.e. aggregator staff) can add accreditations. This however can vary depending on the head group.