Homechain - The Future of Loan Origination & Regulatory Compliance

Homechain empowers vendors to increase profitability by reducing the loan origination and funding process from an industry average of 42 days to 5 days and is the first truly end to end Loan Origination Platform in Australia. Regchain, our supplementary application, is an ongoing residential loanbook Risk Review tool that assists Financial Institutions in complying with and reporting to regulatory bodies like APRA and ASIC in Australia. Scrutinize out and find, what is the best metal detector for the kind of pursuing I have to do, where I live, my experience, and my spending limit.

The Advantage

Homechain delivers improvements in speed, security and efficiency in your organisation through it’s innovative automated workflow.

The attributes you will find valuable are:

Advanced accuracy – we enable retrieval and verification of data via API calls to the recommended or chosen data providers declared as ‘the source of truth’ to reduce fraud and remove the human error component.

Workflow efficiency – We have challenged and re-arranged the current day workflow for traditional home loan lending to ensure all the verification, qualification and identification is captured and verified up front to improve organisational efficiency and customer experience.

Integration capability – We are able to integrate directly with your existing document generation tool and recommend a fully digital process to gain the most benefits in terms of back office efficiencies.

Sophisticated Credit Worthiness Tool – Many credit scoring tools focus on debt servicing capabilities (DSR’s) but not on a combination of DSR & Asset Risk. Our tool enables the complete configuration of the credit rules around the components of credit score, asset information and overall DSR capability.

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On-going Risk Review Application (Regchain) – Because we have built the solution with blockchain technology, we can enable further uses of the data to provide intuitive ongoing risk intelligence about the behaviour of individual applicants, as well as an overall loan portfolio. This is significant asset to assist with ongoing regulatory reporting and compliance.

Flexibility to be used across all channels – With true omnichannel enablement, our Homechain platform is an intuitive web based application and can be provided as an interface to both direct and broker channels. It has been developed to be accessible via any device, so your lenders and brokers can use it while on the move.​

 

The Story

Whilst developing the Homechain mortgage origination platform, we recognised the common challenges for all financial institutions (FI’s) in the present day mortgage origination process.

What makes Homechain the first truly end to end digital loan origination platform is the capability to solve each and every one of these problems with a digital, superior solution. In addition, we have built the platform to integrate and communicate with the whole mortgage ecosystem. A requirement we know will be necessary of any sustainable solution in the mortgage space in the future.

The most suitable and capable technology for this ecosystem to work cohesively, efficiently and most importantly securely, is the blockchain. Knowing this, we developed a bespoke blockchain platform that operates on permission based principals, enabling the most secure, protected and efficient transactions in the finance industry. That platform is developed, hosted and supported in Australia, providing complete regulatory comfort for FI’s.

The Solution

Our best in class digital platforms Homechain and Regchain, deliver world first solutions for the mortgage origination and risk review processes in any financial institution. By engaging our innovative technology, you are future proofing your organisation against increased, fraud, risk and regulatory pressures in an unrivalled, secure and efficient manner. In addition, you can reduce your end to end processing time for a home loan application from an industry average of 42 days, to just 5 days – submission to settlement!

The Homechain solution is the first end to end automated mortgage origination processing system that integrates with a digitised settlement registry (PEXA). Homechain is a 14-step loan origination solution that covers the full end to end loan origination process from application through to settlement and is fully automated. It can allow for a manual credit assessment and decisioning step in the initial phases, to assist an institution to pilot and gain confidence in the auto-decisioning capabilities.

The Regchain system assists FI’s with regulatory compliance requirements administered by the Australian Prudential and Regulatory Authority (APRA) and the Australia Securities and Investment Commission (ASIC). The Regchain application uses the unique technical capabilities of the Homechain platform to activate ongoing and updated data analysis of relevant credit information about a borrower or asset.

The Regchain application allows real time and regular reviews of home loan portfolios or individual loans and performs comparison analysis on the data to identify and report on any variances, providing alerts when variances move beyond the FI’s risk margins. This system enables FI’s to actively engage with their clients earlier, manage their risk portfolio or even consider applying risk based pricing models.

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The People

Ruth Hatherley, Founder

 

Ruth Hatherley Moneycatcha

  • 21 years experience in Finance Industry
  • 19 years in residential and commercial finance
  • Shareholder in one the most highly decorated mortgage broker franchises in Australia
  • Western Australian media commentator & public speaker on the Australian Mortgage Market
Jonathan MacDonald, Chief Technology & Strategy Officer

 

  • 25yrs experience in Digital Industry
  • Trusted advisor to the senior executives of the world’s largest companies including Google, Apple, Microsoft and IKEA
  • Is widely recognised as a significant contributor to the most cutting edge thought-leadership platforms including Google’s Think Insights
  • One of the most in-demand thought leaders and keynote speakers in the world 

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