Login
iscover
One Aussie fintech operator has launched the world’s first complete online home loan platform, backed by Bendigo and Adelaide Bank and the South Australian government.
Tic Toc is an end to end online home loan platform that provides customers with mortgage decisions in just 22 minutes, instead of as much as 22 days in some cases.
The fully automated digital home loan platform will not only slash turnaround times, but also pass on the cost savings of digitisation via competitive interest rates and no application, settlement or valuation fees.
Tic Toc founder and CEO Anthony Baum said the opportunities in property and mortgages for the digital economy are endless.
“The beauty of being a digital business is we can base ourselves anywhere in Australia and deliver the same great service to all our Australian customers,” Mr Baum said.
“Fintech is a major growth sector, both internationally and within Australia. As a proud South Australian, I find it satisfying to launch and grow a major national fintech company from Adelaide.”
Mr Baum said the Australian market is ready for a fully digital home loan.
“Australia has one of the highest take-up rates of online banking in the world. The on-demand economy has shifted customer expectations when it comes to personal finance, but home loans have been left behind.”
Mr Baum said other online home loan providers only digitise part of the lending process.
“While their application may begin online, it ends in the exact same way every other traditional home loan process does,” he said.
Tic Toc’s head office is in Adelaide and it is expected to create up to 200 full-time positions over the next five years.
Bendigo and Adelaide Bank is supporting Tic Toc by underwriting the loans and supporting the application’s development.
You are not authorised to post comments.
Comments will undergo moderation before they get published.