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CrediTú launches Chile's first instant approver for mortgages

- A new system that seeks to revolutionize the way mortgages are approved in Chile, obtaining financial information from customers through official data sources, has been developed in order to offer mortgage approval quickly and efficiently.

SANTIAGO, Chile, Aug. 20, 2019 /PRNewswire/ -- The Chilean lending fintech CrediTú has recently launched an automatic approval system that accelerates the way in which mortgages are granted in Chile. This is a huge technological development that will allow clients to be instantly validated and approved which will, at the end of the day, deliver a significant improvement on customer experience with a safer procedure.


Currently, 95% of CrediTú's clients are approved in less than 2 days which makes this company the only institution to provide almost immediate mortgages in the Chilean financial market. "Yet, with this new improvement, CrediTú will be able to finance customers in a couple of seconds," says Francisco Fainé, Chief Growth Officer at CrediTú.

He also explains that the automatic approval is a relevant milestone for the growth of the company. "This new development will allow us to instantly approve customers interested to finance their new home. Being present at the customer's purchase is crucial, because the automation of our process will allow the client to book a property in the same show-room after obtaining in just seconds our approval," says Fainé. This development will be available in two channels: through automatic kiosks and the company's web and mobile page.

Among some of the main benefits of this new development, there is a greater speed when obtaining approvals, more assurance that the customer information is valid, and less risk of incorrect data or fraud being entered. "Without a doubt, this system puts CrediTú at the forefront in terms of the use of technology to originate mortgages throughout the region. In fact, we expect in five years from now, at least 70% of our sales will be made through this tool," assures Francisco Fainé.

Camilo Espinosa, Chief Digital Officer at CrediTú, explains that, "The automatic approval's main goal is to offer a new experience to the client, following the examples of important foreign companies that have managed to position themselves as leaders in technology and innovation." Francisco Eterovic, the company's CEO, explains that, "CrediTú's agility in granting credits has undoubtedly revolutionized the Chilean market, and expectations are high. From an internal point of view, this project is cost efficient in human resources and is extremely disruptive as we are the first automatic approver ever launched in Chile," says Eterovic.


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