QED Credit Services launched

QED Risk Services has become one of Australia’s best known consultancy groups in the credit industry. The team’s many years of experience in the credit industry has been instrumental in assisting nearly 200 businesses, of all shapes and sizes, to gain their Australian Credit Licence in 2010.

Throughout this work, QED Risk Services realised that there are a large number of brokers and broker-businesses in the industry that, for various reasons, either do not want their own ACL or are not quite ready – but, at the same time, are not altogether keen on becoming a Credit Representative with their aggregator.

To accommodate this segment of the industry, QED Credit Services has been granted its own ACL, allowing it to appoint Credit Representatives to provide credit assistance to consumers on its behalf.

Brokers that meet QED Credit Services’ strict approval criteria will be able to be appointed as Credit Reps and be free to aggregate with whichever approved aggregator they please. QED Credit Services will educate brokers about their compliance obligations and will then monitor brokers to ensure their business remains compliant.

QED Credit Services Director, Greg Ashe, said “There’s been some hesitation about these third party models, because it’s a little bit ‘outside the square’. But we believe it’s actually a win for all industry participants. The broker gets what they want and the other links in the chain, lenders and aggregators, get the security of an extra layer of compliance monitoring that wasn’t there prior to 1 January. We charge a flat fee for the service that we provide and all other existing commercial arrangements between lenders, aggregators and brokers remain unaffected.”

Call QED Credit Services on 1300 817 662 to find out about how to apply to join the group.

Posted on: Thursday, 30 December, 2010

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