Fintech flips mortgage industry on its head with digital home loan platform

Australian fintech Verteva today announced it has rebranded to Nano and written its very first home loan via mobile, as it prepares to disrupt the mortgage industry.

The company, run by two former Westpac execs, has also begun official beta testing and welcomed family and friends to experience its home loan product and platform ahead of the company’s anticipated public launch in Q1 2021.

In May 2020, Nano secured A$33m in a Series A capital raising, funded entirely by New Zealand’s Bolton Equities. Nano plans to launch publicly in Q1 2021 and will initially offer home loan refinancing.

“We set out to execute on our build plans of writing our first home loan within six months of receiving our Series A funding,” said Chris Lumby, CXO and co-founder.  “We’re pleased to announce we achieved this at the end of October and within the original time frame,”

“Pleasingly, the first home loan was completed entirely on mobile.”.

Traditionally, an individual would meet someone face-to-face, go through a lengthy application, fill in the details they have at hand, and then return with anything they might have missed the first time.

Nano, however, leverages the power of advanced data and innovative digital technologies to optimise the home loan process. The platform evaluates properties digitally, checks credit, centralises financial health and assesses income and expenses safely and securely.

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Source: Fintech flips mortgage industry on its head with digital home loan platform