Startups are crucial to any industry. They bring innovation and insight into industries that may need a fresh perspective on the business sector they work in. There are lots of startups in Ireland-320 startups to be precise. Within those 320 Irish startups are the ones that are working to digitize the mortgage process. By focusing on areas from regulatory tech to risk analysis to the mortgage process, they may change the mortgage game significantly. Let’s give you an overview of these Irish startups that are working on digitizing the mortgage process.
Fenergo
Fenergo is a software company that was founded in Dublin, Ireland in 2009. Fenergo’s services assists financial institutions in meeting regulatory compliance standards. In addition to that, Fenergo also helps financial institutions in onboarding new clients. These services include KYC compliance, legal entity data and collateral management, account opening, client servicing, and a whole lot more. [1]
Corlytics
Corlytics is a risk intelligence company that was founded in Dublin, Ireland in 2013. Corlytics helps financial institutions with their compliance, risk, and analytics. To elaborate, this company offers data analytics services, which include regulatory risk analysis and regulatory risk benchmarks for financial institutions globally. Additionally, this company helps other companies find the originating cause of regulatory fines as well as predict regulatory risk within financial markets. [1]
OnlineApplication
OnlineApplication is a mortgage origination platform that was founded in Dublin, Ireland recently. OnlineApplication focuses on speeding up the mortgage application process significantly by offering customers an online application form to fill out at their leisure. Additionally, their partnership with the online banking company Salt Edge allows lenders on the platform to access a customer’s financial data in real time so they can verify an applicant’s identity. Their streamlined application process combined with an easy to use system for lenders on the platform will certainly make waves in the mortgage industry. [2]
CreditLogic
CreditLogic is a mortgage origination platform that was founded in Dublin, Ireland in 2018. CreditLogic focuses on speeding up the mortgage application process by offering customers a way to apply for a mortgage online. CreditLogic focuses on cutting down the time it takes to apply for a mortgage by digitizing the mortgage application process. Instead of submitting countless copies of financial paperwork to a mortgage lender, you can just upload the documents directly. CreditLogic charges banks and mortgage brokers with a subscription model to have access to the platform. [3]
This article was written by Ian, an intern for Irish Mortgage Brokers and Yes.ie.
References:
[1] https://tracxn.com/explore/FinTech-Startups-in-Ireland#:~:text=Fenergo%20is%20a%20software%20company,requirements%20in%20onboarding%20new%20clients.&text=Future%20Finance%20is%20an%20online%20platform%20for%20student%20loans.
[2] https://www.irishtimes.com/business/financial-services/irish-firm-teams-up-with-salt-edge-to-simplify-mortgage-process-1.4296812
[3] https://fora.ie/creditlogic-mortgage-4585383-Apr2019/