How one fintech is changing the mortgage industry

Customers choosing home loans have traditionally either negotiated directly with banks or worked with a broker to secure the best loan that particular broker could find them.

But with hundreds of lending products on the market and many brokers working with panels that limited them to a small subset of loans, consumers lacked the information to ensure they were getting the best rates and product features.

Fintech Hashching has turned the process on its head by negotiating and de-branding a range of home loan products, which are then referred to brokers along with customer prospects.

Because customers choose loans based on their attributes and aren’t told which organisation the loan comes from, brokers can’t rely on simply steering customers to banks they are familiar with – or that provide the biggest commissions.

Customers rate brokers based on their service and outcomes – providing clarity for buyers and positioning the company as a disruptive force in an industry that has long been more top-heavy than most.

As chief operating officer of Hashching, Siobhan Hayden has helped guide the firm – founded by a team of ex Westpac bankers – from the seed of an idea into a disruptive force in the mortgage broker business by using social-media conceits to restructure the relationship between banks, customers, and brokers.

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Source: How one fintech is changing the mortgage industry | Information Age | ACS