Mortgage marketplace HashChing is celebrating its first full calendar year of operation, reaching a number of key milestones including attracting more than 350 brokers.
The fintech has reached a total of $3 billion worth of received home loan applications and has rolled out a pilot of the first virtual identification system
for home loan approvals in Australia.
Also of note was the appointment of Siobhan Hayden
, former CEO of the Mortgage & Finance Association of Australia (MFAA
), as the company’s COO.
The firm had made great strides with on-boarding new mortgage brokers during 2016, Hayden said.
“HashChing has come a long way in alleviating the traditional pain points for mortgage brokers in Australia, and we’re looking forward to working even closer with them in the new year to make HashChing their number one lead generation platform.”
Mandeep Sodhi, the firm’s CEO, said a key focus had been streamlining the home loan process for both brokers and customers.
“We’ve pioneered a completely digital home loan application process, and this has paid off with the incredible milestone of $3 billion worth of home loan applications,” he said.
“While that first billion took us a year to accomplish, the last billion has only taken two months, so we’re scaling incredibly quickly.”
In 2017, HashChing was looking to introduce more technology innovations for a simpler home loan process, said CIO Atul Narang.
“The feedback we have received from customers is that while they appreciate the ability to compare their options, they don’t want to be overwhelmed with choice when they’re applying for a home loan.”
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