MortgageMe, Hippo offer home loan comparison services
Launched in 2019, MortgageMe aims to ease the home loan applications process by cutting out the time-consuming hassle and paperwork involved in the traditional loan application process, through its digitised application process that automates tailored submissions to major banks and lenders on the prospective property buyers’ behalf.
The new partnership enables users of the Hippo Web site to apply for home finance through MortgageMe, and compare quotes and deals offered by various financial institutions.
Hippo.co.za has been helping consumers compare insurance and other personal finance products from a range of South African brands since 2007.
“We’re proud to partner with Hippo by providing our bond origination platform and assisting to put mortgage applications directly in the hands of prospective home buyers,” says Andrea Tucker, director of MortgageMe.
“We have ensured the customer experience of applying for home finance is both simple and frictionless, promising full transparency between the applicant and banks at offer stage,” notes Tucker.
MortgageMe has taken advantage of the rapid advancements in technology, she adds, to create a home loan application process that enables tech-savvy home buyers to successfully complete an application in record-time.
The online bond aggregator is the brainchild of e4 and WeAreMonsters. e4 provides digital tools to assist financial service providers and real estate agencies in streamlining their services, while WeAreMonsters focuses on disrupting antiquated business models through the utilisation of technology and business design.
“In developing our industry-first platform, we were able to take a time-consuming, paper-based process and digitalise it with the customer experience at the centre of the process.
“We were privileged to leverage our holding company, e4’s, 20 years of digitalisation experience to build and develop the platform with ideation and concept development specialists based in Cape Town. MortgageMe has also benefited from e4’s digital onboarding services that are in place at a number of large retail banks to improve the process and make it a truly seamless and unique one,” says Tucker.
Hippo CEO Bradley Du Chenne says being technology-first was a prerequisite for the comparison business.
“We wanted a home loan service that would not only enable our customers, but make an arduous task much easier to process. This can only be achieved through the use of market-leading technology and decades of experience. Our objective was to provide our customers with a platform that empowered them to act as their own bond originator through a transparent process, using one application submitted to all four banking institutions.”
In 2018, Hippo.co.za introduced a chatbot to engage with and respond to customer queries on its Web site.