Neobank partners with FMS for digital mortgage

Challenger bank 86 400 has partnered with mortgage software provider FMS to utilise its eSign solution for mortgages.

Last month, neobank 86 400 announced the official launch of its home loan product suite, which aims to reduce the time taken to write and settle a loan via its digital solution.

The neobank has stated that its paperless digital home loan solution process is up to six times faster than the big four banks, achieved through its partnership with a range of software companies.

Mortgage processing and administration service provider FMS has now announced that the company’s eSign solution has been utilised by challenger bank 86 400 to deliver its paperless mortgage experience.

The technology creates the necessary loan documentation at the loan approval stage and delivers it to the borrower in order to obtain electronic signatures, which is said to reduce processing times by minimising the rate of manual signing errors.

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Source: Neobank partners with FMS for digital mortgage – The Adviser