Buying their own home is one of life’s biggest dreams for most people, and most of them use a home loan to transform this dream into reality. However, the tedious loan approval process and high interest rates can sometimes dissuade and discourage people.
HashChing is a company that is helping transform dreams of home ownership into reality with its hassle free and easy-to-understand loan process. HashChing is Australia’s first online marketplace that allows consumers to access great home loan deals without having to shop around.
Its services are provided completely free to consumers. HashChing connects customers directly to verified and accredited mortgage brokers that offer loans at better rates from other lenders, saving customers time, hassle and money. Competitive home loan deals can save tens of thousands of dollars in repayments. Whether customers are applying for a new home loan or refinancing, they can easily research their options through a variety of lenders and find the right product and support for their needs.
Founded in August 2015, HashChing is an award-winning company that has already received more than $16 billion worth of home loan applications. It now has a network of more than 700 credentialed mortgage brokers and over 33,000 customers under its fold.
The company’s verified brokers provide their services seven days and have saved borrowers an average of $102,800 over the life of their respective home loans. HashChing aspires to help Australians to own their dream home sooner and at the lowest possible cost. To this end, the company has begun expanding into other verticals; most recently it formed a partnership with e-conveyancing platform Titlexchange.
Developments such as this offer an unparalleled level of convenience related to home ownership by creating a single, comprehensive portal for consumers.
The Leader in Home Loan Comparison
HashChing connect brokers to a diverse range of consumers looking for a new loan or those who want to refinance their existing loan. It provides a balanced ecosystem for both brokers and borrowers and gives equal importance to both parties.
HashChing is at the forefront of technological innovation as well, and has worked hard to be the first mortgage provider to incorporate a wide range of cutting edge advancements. For example, their platform uses predictive analytics and geo-targeting for automated matchmaking between borrowers and brokers, and machine learning to rank brokers based on customer feedback.
It also utilizes other collated metrics, dynamic ratings and review interfaces, and Australia’s first virtual identity verification platform, meaning mortgage brokers can take care of strict ‘know your client’ compliance regulations without needing to meet the borrower in person. This unique suite of features improves both the customer and the broker experience, setting HashChing apart from other virtual marketplaces.
Apart from these innovations, the organization also has a strong customer support team that is accessible 24/7 via email, phone and online chat. The support team’s performance is reviewed on a weekly basis. Consumers can ask any home loan-related question on HashChing and only verified financial experts from their area respond to the questions, allowing people to make smart and informed financial decisions.
HashChing always believes in operating with an innovative mindset, and approaching every facet of the business with the underpinning mantra of ‘we can do better’.
Delivers More and Better than its Competitors
HashChing believes in delivering more than the tradition expectations of a mortgage marketplace and always keeps a close eye on emerging trends. For example, instead of simply listing mortgage rates on their platform, they partnered with brokers to supply negotiated rates. They have since taken these services to the next level by developing dynamic broker rating systems to help borrowers make the best decision for their needs. The benefits of customer reviews are also twofold. On one hand, they guide their borrowers and instruct brokers and, on the other, they continually refine and build the platform for hassle-free operation.
HashChing collects extensive data on settlements and sales which give it unique insights into the mortgage landscape and an edge in the market. This proactive approach, coupled with its unique business model gives borrowers deals that are not advertised by lenders anywhere else.
The Torchbearer of HashChing
Mandeep Sodhi, Founder & CEO, HashChing, is a visionary entrepreneur who has proven his skills by successfully executing many industry-disrupting ideas. After graduating with a distinction for his Executive MBA, Mandeep gained a wealth of experience in banking and launched two online businesses.
It was here that he saw an opportunity to drive some much needed change within the mortgage industry. Aware of first mover advantage and the untapped potential to partner with brokers, Mandeep brought HashChing to life in just over two months.
Mandeep’s impressive business strategy was proven when HashChing crossed the $5bn worth of home loan applications in just 18 months of operation. It has also been recognized through the contentment of shareholders, employees and customers who have shared their positive experiences with the media multiple times.
Mandeep was awarded the Young Business Leader of the Year in 2017 by IABCA and named as one of the top 100 cool people in technology in 2016 by Business Insider.
HashChing has serious plans for expansion and growth in the near future. It is constantly looking for new ways to expand its platform and improve the overall user experience. Currently, their biggest project involves automated banking statements to connect lenders directly to borrowers through the platform. This move will eliminate the tedious loan approval process by reducing the time and effort required to verify paperwork.