Fintech dwarfs Big Four at finder Awards, winning Best Home Loans & Tech Innovation
Tic:Toc, the fintech lender offering the world’s only instant home loan, was awarded Best Owner Occupier Home Loan – Variable; Best Investor Home Loan P&I Variable; and Best Tech Innovation, at the finder Awards held in Sydney last night; identifying the best value finance products across 20 categories. Tic:Toc founder and CEO, Anthony Baum, said the awards recognised the immense value Tic:Toc brings Australians. “It was so exciting for us to receive yet another source of validation for us that we’re filling a real need in the home loan market. It’s an industry that has been ripe for disruption, and we’re proud to have made such a big impact on […]
Lendi named as one of LinkedIn’s top startups
Leading online home loan platform, Lendi, has been recognised in the 2018 LinkedIn Top Startups list, honouring the 25 most sought-after startups in Australia. The LinkedIn Top Startups list celebrates the companies and people making an impact in the professional world. The list is derived from a blended score looking at factors including interest in the company, engagement with employees, job interest and retention, and is informed by the billions of actions taken by more than 575 million professionals on LinkedIn. “At Lendi, we put people at the heart of everything we do. To be featured on Australia’s first LinkedIn Top Startups list is a significant milestone for us. It […]
Max ID launches Australian-first digital technology that provides ‘safe harbour’ identity verification for property transactions in less than 10 minutes.
Max ID, an Australian Fintech facilitator and RegTech specialist, has today publicly launched a technology solution that it believes will bring a broad range of industry players a step closer to their aim of delivering simple, efficient and inexpensive same-day ‘safe harbour’ identity verification for mortgages and property services transactions. Financial institutions and non-bank mortgage lenders have long been endeavouring to provide intra-day, unconditional home loan approvals. There are a number of hurdles to achieving that outcome in Australia, including the requirement to conduct a face-to-face and in-person interview with the borrower to meet regulatory requirements. Until now that requirement has created a conflict between delivering regulatory ‘safe harbour’ outcomes, […]
Home loan refinancing jumps but many find they have to sell up
Online mortgage broking market place LoanDolphin has seen the number of loan enquiries increase fourfold to more than $1.5 billion in the last year as many home owners seek to refinance. LoanDolphin founders Ranin Mendis and Rod Dutra have been analysing their data on borrowers who submit requests for loans on their website which mortgage brokers compete for. In the last 12 months, as property prices have slipped, lending rates risen (for some) and the royal commission into banking crimped lending practices, LoanDolphin has seen a huge increase in the number of enquiries for refinancing. “Many borrowers are looking to refinance as they’re starting to feel the pinch from rates,” […]
Xinja first to use innovative IRESS home loans platform in Australian market
Xinja has moved a step closer to delivering speedy, paperless home loans with the confirmation of its ongoing engagement with IRESS to process Xinja home loans. IRESS specialises in building technology for the financial services industry and the partnership provides Xinja with a home loan workflow platform that delivers fast decisions for consumers supported by IRESS technology. IRESS is a market leader in the UK, where one in every four home loans are processed using IRESS technology. Xinja is not yet a bank, but is building an independent, 100% digital bank – or ‘neobank’ – for Australians, designed entirely for mobile. It will offer a radically new banking experience built […]
Fintech slashes loan rates
A fintech lender has announced a reduction in its fixed home loan rates by up to 0.10%. Tic:Toc’s one-year fixed live-in rate is now 3.59% and its two-year fixed home loan will match its standard variable rate at 3.64%. According to the lender, the rate cut increases Tic:Toc’s standing as holding the lowest one and two year fixed rates in the market due to the cost efficiencies in its automated assessment and approval platform. Tic:Toc founder and CEO, Anthony Baum, said the decision to reduce fixed rates was great news for home loan customers and new home buyers looking for stability for the foreseeable future. He said, “We recognised there […]
How a Single Mother and First-time Entrepreneur is Helping People Get Loans in Five Days Using Blockchain
Founder Ruth Hatherley says the technology is a component of Australian fintech start-up Moneycatcha’s overall technical architecture. In 2015, few things happened in Ruth Hatherley’s life that put her “at a bit of a crossroads”. The single mother-of-one then decided to invest all her life savings into creating a prototype of Moneycatcha. Today, Moneycatcha is one of Australia’s leading fintech startups that uses blockchain to make the process of getting home loans quicker and cheaper. The finance industry was a familiar space for the Perth resident, long before Moneycatcha, but she “never really liked it per se”. “Counting money or reading financials didn’t excite me—I have a strange relationship with […]
Homeloans to fund and use Athena’s new home loan platform
Homeloans Ltd will provide debt funding to Athena Home Loans and has joined Macquarie and SquarePeg as a shareholder of the new home loan platform, which is preparing to launch later this year with technology to link mortgage borrowers directly with super funds and non-bank lenders. Athena, founded by two former National Australia Bank executives, is targeting $1 billion of lending in its first year, a drop in the ocean compared to the $1.7 trillion mortgage market. However, the strategic partnership announced by ASX-listed Homeloans on Monday morning shows major banks, which are grappling with a loss of customer trust due to the banking royal commission, are under growing pressure […]
