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Fintech launches ‘instant home loan’ platform

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Lucy Dean 4 minute read

An Australian fintech has announced the arrival of a “world first” home loan platform that can approve home loans in 22 minutes.

South Australian startup Tic:Toc announced today (11 July) that it can “radically improve” turnaround times for home loan approval from 22 days to 22 minutes, with the aid of a digital decisioning and approval system but “without the need for a human credit assessor.”

The fintech is backed by Bendigo and Adelaide Bank, which will support the development of the platform while underwriting the loans.

Tic:Toc will finance owner-occupier and investor loans with a maximum LVR of 80 per cent.


Variable comparison rates start at 3.69 per cent per annum (p.a.) for owner-occupiers and 4.26 per cent p.a. for investment loans.

Digital innovation

Anthony Baum, Tic:Toc founder, said the home loan sector had been left behind in terms of innovation, despite Australia having one of the highest uptake rates of online banking globally.

“We believe customers deserve a faster, easier and more transparent way to get a home loan and Tic:Toc can deliver on this promise,” he said.

“Other ‘online’ home loan providers digitise only part of the process, so while their application may begin online, it ends in the exact same way every other traditional home loan process does.”


The managing director of Bendigo and Adelaide Bank, Mike Hirst said customers should have choices when interacting with financial institutions. “We believe Tic:Toc offers an appealing alternative for eligible home buyers and home owners.”

According to Tic:Toc, the platform is capable of assessing customers’ financial standings within three minutes through digital validation. However customers uncomfortable with digital processing can supply their details through document upload.

A “team of experts” at Tic:Toc will also be available to “offer human and non-intrusive assistance when a customer decides they want it.”

Tic:Toc said it hopes to redefine how borrowers secure home finance and “disrupt” the home loan sector on a “world stage”.

[Related: Brokerage trials new lead referral app

Fintech launches ‘instant home loan’ platform
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