Meet OwnHome
OwnHome’s mission is to help creditworthy aspiring homeowners overcome the largest barrier to home ownership in Australia: the deposit hurdle
How did Tiimely's solutions help?
| Problem | Solution |
|---|---|
OwnHome needed a solution that would allow them to really understand and validate their borrowers' financial positions, without the burden of build | OwnHome augmented their application with Tiimely's Decide solution to automate the assessment and decisioning process, whilst leveraging our Data Consolidation and Enrichment capability |
Getting to market fast, to help customers get into home ownership sooner
Supporting customers with getting a home loan in a highly regulated and ever-evolving environment was key to OwnHome’s future and longevity. Assisting with the deposit friction for customers, as well as helping pave the path to home ownership is part of OwnHome’s reason for being.
The goal was to make the home loan application experience for applicants as simple and swift as possible. Xapii is at the core of this, helping OwnHome to understand and validate the financial transaction information of applications.
Xapii’s flexibility has allowed OwnHome to automate their systems in a way they need to supercharge their lending platform with a high-fidelity view into applications.
A major benefit of Xapii Decide is the efficiency gained from Tiimely's industry (and world) leading exception-based underwriting - this means the platform does the heavy lifting on the majority of straight-through analysis and assessment of applications.
This means the OwnHome team can spend the majority of their time, applying their knowledge and experience to assess rules that are flagged, exceptions, and really the things that humans should be focused on when making a credit decision.
Xapii Decide x OwnHome
How it works
Step 1
Customer submits application to OwnHome. Their application is assessed in real-time, based on the OwnHome credit policy that has been configured in the back-end. With managed integrations, OwnHome can access contextual data points from some of Australia’s most trusted data providers, whilst upholding the highest in customer privacy standards.
Step 2
Xapii Decide consolidates, categorises and enriches the customers’ data to provide real-time lending outcomes. Every step is driven by customer consent.
Step 3
Credit assessors only action rules triggered, so they can make an informed decision and deliver a decision quickly to the customer.
OwnHome success metrics
75% time reduction per application
Average 2 days from submit to decision
300% increase in applications assessed per week
We were in the market for a tool that let us dive deep and really understand our borrowers, we just couldn't go past Tiimely is what we constantly heard in the market. And from the moment that we met the Tiimely team, we were drawn to their deep curiosity for understanding their customers’ needs.
Other case studies
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Bendigo and Adelaide Bank
Bendigo and Adelaide Bank launched their first online-only home loan, Bendigo Express, in 2019 through Tiimely’s white-labelled mortgage solutionView Case Study