UNO started life back in 2016, we set out to reimagine how mortgage broking could work.
Our founder, Vincent Turner, had built software for mortgage brokers and banks and it was clear that the market was ready for online mortgage broking. UNO was not the first online mortgage broking but we were online from day one and went on to invest millions of dollars in iterating our online platform in the early days however we also always understood that customers want help with their home loan from experts, that service was critical.
Over the following years the category continued to grow and with covid in 2020 the acceptance by customers of online generally for service based businesses became the norm.
In late 2020 after 5 years of building it started to become clear that to us that the areas where online mortgage brokers were competing (price, technology, ease) were becoming tables stakes and to stand out we needed to reconsider our strategy.
What a lot of people don’t understand is that all mortgage brokers (online or not) are essentially dealing with the same set of lenders. The idea that one broker has access to better pricing than another is basically a falsehood and with the emergence of online lenders in some cases the ‘best rate’ will be with a lender who won’t work with brokers at all.
Around this time UNO decided that our customers, whilst wanting a great deal (of course, who doesn’t? ), really wanted great service.
At this time we decided that to truly stand out UNO needed to deliver what we termed Unparalleled Service. We made being Australia's Online Mortgage Broker, without compromising on service, our number one objective, but how would we measure this?
UNO, like plenty of other brokers, already used 3rd party rating & reviews platforms like Product Review or Google to get ratings but most people don’t understand that these platforms tend to show companies in a better light than what they are as you only send your best customers there to give you a review.
No one gets a customer who had an issue and says ‘please leave us a review on Google’
The gold standard for truly understanding customer satisfaction is Net Promoter Score (NPS). NPS is globally recognised, you can read more about NPS here if you like.
Early in 2021 we implemented an automated NPS measure at 4 key moments in our customer journey, asking EVERY customer the standardised NPS question
‘Would you recommend us to a friend or family member?’
As somewhat expected our NPS was pretty average, not much better than the banks who (surprise surprise) have some of the lowest NPS scores around.
Over the next 15 months we took every bit of feedback (piped in real time to our management team and founder) and refined our service. We made hundreds of small changes to our service, process, communications and behaviours and this was the result.
NPS, as a measure of whether we are delivering Unparalleled Service to our customers, continues to be our true north.
We don’t claim to be the first or largest Online Mortgage Broker, we only care about what our customers care about which is
Are you providing me with the best possible service?
Using the globally recognised measure of Net Promoter Score (NPS) we remain focused on building the best Online Mortgage Broker in Australia.