Ireland has been slow to accept the digital transformation of mortgages. That is, until the development of fintech in Ireland gave the Irish mortgage industry the boost it needed to jump into the digital transformation of mortgages. Not long ago the mortgage industry was bogged down by absurd amounts of paperwork, meetings, regulations, underwritings, and a whole lot more issues. The rise of fintech in Ireland has done away with a lot of the past issues of the mortgage industry. In place of having to fill out large amounts of paperwork, fintech have developed online applications to do that task instead.
Instead of having to apply to multiple mortgage lenders individually, mortgage platforms such as OnlineApplication.ie are being developed to provide customers one point of access for all their mortgage needs. There is a clear demand for online mortgage origination platforms, as shown by the company CreditLogic raising 1.5 million euros in a new round of funding as of Wednesday 22 July.  These new mortgage application platforms will streamline the mortgage application process and may potentially draw in more customers into the mortgage industry due to their online-based approaches.
Additionally, the advent of risk intelligence companies such as Ireland’s Corlytics have significantly helped mortgage companies analyze where their regulatory fines are originating from. This way financial institutions across the globe can find the causes of their regulatory fines and fix them so they don’t get fined again. 
Other Irish fintech companies help other corporations with onboarding new clients. One such notable example is Fenergo, which helps companies with onboarding new clients in a variety of ways. Fenergo helps companies get new clients through the use of account opening, client servicing, collateral management, and a lot more stuff besides that. 
All of these Irish fintech companies, as well as many more, have helped the Irish mortgage industry enter the digital age. By streamlining various aspects of the finance and mortgage industries, this fintech companies have made it easier than ever for new customers to enter the mortgage market. That alone is a whole new source of customers and potential revenue for the mortgage industry. As more and more fintech companies enter the mortgage market, more and more improvements to the mortgage market will be made gradually over time. This streamlining of the mortgage process will be a boon for both customers and mortgage professionals within the industry as it grows over time.
This article was written by Ian, an intern at Irish Mortgage Brokers and Yes.ie from the USA.