Fintech’s first full year attracts over 350 brokers

by Miklos Bolza28 Dec 2016
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.”
 
Related stories:
 
Hayden steps into new COO role
 
HashChing trailblazes fully-digital loan approval
 
Aussie fintechs recognised as global innovators

COMMENTS

  • by Non believer 28/12/2016 9:32:01 AM

    Like most start-up's this is just PR a BS as there is no way to verify is this true,

    A good journalist would fact check their settlements

  • by Disgruntled Former HashChing broker 28/12/2016 11:44:37 AM

    I can tell you first hand that the leads from HashChing are quite poor. I was constantly provided leads that had fake phone numbers and email addresses (sometimes both) Suggested that they build in a verification process to authenticate the phone number and email address but was told that this would scare people away from using the service.. Yes it would deter the idiots who have no intention of engaging a broker; however I just assume that they want to be able to boast that they have served up 1,000's of leads to brokers without any mention of the quality.

    I would be interested to see any feedback from some of these "350 brokers" about the quality and volume of the leads being dished out!

  • by Nate 29/12/2016 2:22:46 PM

    As a broker on this platform, I can vouch for HashChing.

    Their growth is a true testament to their hard work, Mandeep is always happy to take on constructive feedback to ensure the platform is optimised for both brother and customer.

    Congratulations to the HashChing team and know these guys will continue to grow from strength to strength.