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Brokerage officially launches white-label loan subscribe A A North Sydney-based brokerage Shore Financial has officially launched its white-label mortgage, Shore Private, powered by Australian Mortgage. The Shore Private offering has been developed and piloted by Shore Financial for the past two years. Available to Shore Financial brokers, the white label utilises artificial intelligence via the Intelligent Credit solution, powered by non-bank lender Australian Mortgage (which was recently acquired by Volt Bank). The technology can reportedly provide personalised interest rates to broker customers, and approve a mortgage in less than 15 minutes, by harnessing algorithmic-based credit assessment software, utilising live banking feeds, and automated valuations from property market data. ....
Volt Electrifies Its Mortgage Solutions With Acquisition businessinsider.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businessinsider.com Daily Mail and Mail on Sunday newspapers.
Mortgage Business 13 July 2021 Volt Bank has acquired fintech mortgage manager Australian Mortgage – formerly known as Australian Mortgage Marketplace – as it looks to roll out its digital mortgage offering. The neobank has announced that it has completed its first acquisition, acquiring 100 per cent of neo-lender Australian Mortgage (AM) and its “Intelligent Credit” solution. The deal, which settled on Sunday (11 July) for an undisclosed sum, will see Australian Mortgage’s technology power the lending component of Volt Bank’s banking-as-a-service platform and deliver the challenger bank with “a multi-channel revenue capability, purpose-built to rapidly scale lending volume”. Australian Mortgage will continue to operate its existing digital mortgage arrangements with Shore Financial and Mortgage Choice, and continue to operate under its own brand. ....
Volt co-founder and chief Steve Weston. Source: supplied. Neobank Volt has acquired alternative lender Australian Mortgage, in a bid to bring tech into an antiquated industry, and improve efficiency for brokers and borrowers alike. It means the bank will be able to offer a mortgage product for the first time one it says will allow for fully verified approval times of 15 minutes or less. Speaking to SmartCompany, Volt co-founder and chief Steve Weston says the acquisition represents a milestone for Volt. Getting mortgage approvals is a “pain point” for Australian consumers, he notes, and can take as long as 25 days. ....
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