Peter White is the Managing Director of the FBAA and first started as a volunteer with the FBAA in 2003 as the State President for NSW, then National President and Chairman of the Board of Directors. Peter’s banking and finance career spans over 40 years covering retail banking, Head of Private Banking, Associate Director of Marketing and Distribution in Investment Banking, established RAMS Home Loans first sales office in 1993, first CEO for Wizard Home Loans (Mark Boris’s foray into broking) and has run several mortgage management and broking businesses of his own. A strong and passionate advocate for industry, Peter spends a large amount of time with regulators and government as well as being a Registered Lobbyist in his own right and is the leading advocate for Mental Health Awareness in our finance industry. In conjunction with our fellow association in Canada the CMBA, Peter established the IMBF (International Mortgage Brokers Federation) which is a collaboration of industry associations in 5 and soon to be 6 countries and is a world's first of its kind. He also sits on the Small Business Association of Australia's Advisory Board and is a champion and campaigner for mental health and the needs of Parents of Special Needs Children via his private foundation charity “The Sanity Space Foundation Ltd” www.thesanityspace.org .
This panel, the last of the day, looked at how fintech intermediaries fit in an industry that’s getting tougher and heading towards consolidation.
Peter White emphasised the role of brokers as a central intermediary, noting that they are driven by the National Consumer Credit Code. They don’t give advice they give assistance by law.
Michael Burke noted that things are getting tougher but there is still a major role for intermediaries, but margins and revenues aren’t as high as many hoped.