2018 Innovation Name: Tic:Toc home loan transformation with MuleSoft
Awards: 29th Most Innovative Company
Applying and being approved for a home loan is a very manual and arduous process. Clients are forced to fill in lengthy forms, gather financial details from a range of sources, and wait long periods for approval. It causes frustration and confusion around one of the most important financial decisions. Tic:Toc has partnered with application network platform provider MuleSoft to power real-time home loan approvals.
With MuleSoft, Tic:Toc can quickly and securely share data across its disparate systems, regardless of format or source, to instantly calculate variables such as property valuation, borrowing capacity and credit checks. Powered by MuleSoft, Tic:Toc created a unique service that drastically reduces the time needed to apply and be approved for a home loan and radically changed the game in the financial services space. As a result, Tic:Toc slashed home loan processing times from days to minutes.