In Australia, broker education is undergoing significant change. In the current disrupted financial services environment, where technology advancement is creating demand for new sets of broker skills, it has never been more important for brokers to feel supported in their education in the most innovative and up-to-date ways.
Westpac Group is passionate about providing brokers with the best opportunities for their learning and development, so that is why they recently partnered with Go1 to help address the issues that brokers are facing in the finance broking space, and to provide a consistent method of training to the industry.
With a vision to be one of the world’s great service companies, Westpac is helping customers, communities, and people to prosper and grow.
Westpac Group supports a range of financial brokers who represent their products and services in market at a mortgage, equipment finance and commercial level.
Currently working with over 4,000 brokers who are all required to complete CPD points annually, they wanted to make it easy for brokers to commit to their development as successful business owners and leaders.
We talked to Kylie Lano, Westpac Group’s State Manager Equipment Finance, Queensland, about how working with Go1 has helped to re-imagine and improve the delivery of learning across their organisation.
Westpac Group works with over 4,000 brokers to help them complete their annual CPD requirements. Prior to working with Go1, the company’s approach to learning was purely face-to-face, with employees having to leave the office to develop their skills at regular professional development events.
At these sessions, it was easy to recognise this type of learning was not always resonating with brokers.
“At times, brokers appeared disengaged however they knew their attendance would support their professional development and help them earn the necessary CPD points,” Kylie explained.
When it comes to education, the focus is no longer about simply sustaining a job. Brokers want clearer pathways to success, as well as transparency and control of the future. This sparked the concept of offering brokers an online solution for a more interactive and accessible way of learning.
Westpac Group saw Go1 as that solution, allowing them to build a comprehensive education platform to help support finance brokers in Australia — now known as the Broker Academy.
Through the development of the Broker Academy, brokers now have access to integrated online learning and business knowledge, covering everything from compliance to business strategy, leadership and their own wellness and effectiveness as business owners.
Brokers will benefit from regularly curated courses as determined by focus groups with industry and are now able to complete and track CPD learning at a time that fits into their busy schedules.
The Broker Academy marks a significant milestone in the development of Westpac Group’s third-party approach to ongoing education to help brokers manage current and future challenges in the marketplace.
When asked about the desired outcomes of the Broker Academy, Kylie explained one of the main focuses was dramatically lifting the bar of professional quality in the broker business.
“We want to be an integral part of the solution to help raise professional standards within our industry.”
Kylie was very impressed by the volume and diversity available in the Go1 Content Hub, expressing that alongside their own contextual learning, with so much content available, they will be able to see engagement increase with learners over time.
“The early buzz when we launched in September 2019 seemed to strongly indicate an openness to Go1 content with the 15 free courses available.”
“I love the energy and agility of Go1, and their ability to be so dynamic. When we engage with the Go1 team there’s a completely fresh way of thinking and I guess that’s the nature of Go1’s industry and business - always looking for solutions to fit our problems and solve for it.”
Kylie also found the ongoing assistance from the Go1 team to be particularly positive, as she collaborated with Go1 to help develop the Broker Academy.
We would like to thank Kylie for her time in speaking to us and look forward to hearing more about Westpac Group’s journey with Go1, as their learning programs continue to evolve.
Keen to learn how Go1 can help you improve your L&D programs? Reach out to our friendly 24/7 support team anytime for a chat.