How digital home loans are taking over 2022

Fintech CEO reflects on five years of digital mortgages in Australia and where the sector might go in 2022

How digital home loans are taking over 2022


By Mike Wood

Digital home loan pioneer Tic:Toc is gearing up for a huge 2022, in which it will celebrate its fifth year on the market.

The digital mortgage provider was one of the first to play in that market segment in Australia and has seen it grow massively.

Tic:Toc’s proposition has been based around its rapid loan approval times – under an hour in some cases – and onshore customer service operation, and CEO and founder Anthony Baum (pictured) was happy to chart the fintech’s growth since it hit the market in 2017.

“2022 is significant for Tic:Toc because, in the middle of this year, it’ll be five years since we launched the first truly digital home loan proposition in the Australian market,” he said.

“Since then, we’ve grown significantly. We’ve gone from creating a market – because the digital market was very much in its infancy when we launched – to what is now a meaningful component of the home loan ecosystem.

“If you think about where we sit today, the pure digital home loan, B2C, is in the order of 3-5% of the market and we represent about 25% of that, according to Equifax. We’re really proud to have built a business that has that market share.

“Concurrently, we’ve built our enterprise arm. We always had a passion for making our technology available to the industry and we now have customers using our tech both as a platform as a service basis and, increasingly, components of our platform on a Saas basis.

“We have about 15 customers on SaaS, including broker groups. We’re excited because we believe the industry is breaking down into brands, tech and balance sheet, and we are very much looking to play in the tech part of that.

“We don’t actually run a balance sheet ourselves: we’re not a securitiser and we’re not a self-funder. We’re about being a platform that the industry can use on a full or module basis to create better experiences, efficiencies and compliance outcomes.

“That’s where we’re at and our story so far.”

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