Overview

Before applying for a mortgage, consumers wish to know the amount they are eligible for and the costs involved. Each bank has slightly different offers, therefore knowing exactly for what amount you qualify without any commitment, i.e., a contract, is a plus in user experience. FintechOS offers a B2C portal with two simulators. Hence, an un-authenticated customer (a new customer to the bank, un-authenticated in the FintechOS Portal) can know in seconds what type of loan they qualify for. It serves as a starting point to launch the mortgage application.

This page has the functionality to simulate the loan application and return to you, the applicant, a result for your loan request. It can be embedded in a bank's website to offer its clients a quick way to find out if they qualify for any of the mortgage products that are being offered. From this page, the customers can access the Mortgage digital journey containing the steps to acquiring the loan amount (selecting a mortgage type, finding a property, declaring financial data, getting an insurance for the property, signing the contract).

Business Pain Points

The Mortgage Calculator accelerator by FintechOS is aimed at resolving some of the pain points when looking to acquire a mortgage:

  • the applicant is un-aware of what are the loan's implications;
  • requires various documents before knowing what are the mortgage offers;
  • there is no pre-approval;
  • the need to create a application.

The Mortgage Calculator accelerator by FintechOS solves these pain points by offering a fully digital seamless way for your customers to find out if they are suitable for a mortgage.

Advantages of the Mortgage Calculator:

  • Time-efficient and Unassisted. The process has only a few fields that need to be completed to get an instant decision.
  • Digital. The calculator is 100% digital without the need to visit a bank to discover their offering.
  • Personalization. This accelerator is highly configurable and can be further enhanced via Innovation Studio to adapt it to any business requirements.
  • Advanced formula for calculation. The processor Business Formulas offers an intricate method to build a formula that can calculate the following:
    • the mortgage value
    • the banking products the customer is eligible for.