Broker group IBNA has chosen Macquarie Relationship Banking to provide banking services for its members.

Under the deal announced last week Macquarie’s specialist insurance broking banking team will handle all banking requirements and provide services for IBNA members including lending, deposit and payments and premium funding.

IBNA Chairman Gary Gribbin says Macquarie’s expertise and specialist focus on the insurance broking industry will be a great asset.

“What will add real value to IBNA and, most importantly, our members is that Macquarie’s offering moves beyond traditional transactional banking,” he said.

IBNA members will also have access to tailored insights from Macquarie’s biennial Insurance Broking Benchmarking Report, to evaluate business performance and identify growth strategies.

Macquarie Relationship Banking’s Head of Insurance Broking Rachael Lavars said the two organisations have “enjoyed a strong relationship spanning well over a decade. I am delighted to be able to add further value to IBNA and its members.”