SOUTH Australian based fintech company Tic: Toc is on a mission to disrupt the home loan industry by developing its new online platform.
In partnership with the South Australian government and Bendigo Adelaide Bank, Tic: Toc is aiming to create what they say will be the "world's first" online home loan platform which can offer customers approval in just 22 minutes.
Tic: Toc has secured a $900,000 grant through the government's Investment Attraction Agency's Economic Investment Fund, which is expected to take the company's staff count to 200 within the next five years.
Tic: Toc founder and CEO, Anthony Baum (pictured), says he is excited to see Adelaide embrace the growing fintech sector.
"Fintech is a major growth sector, both internationally and within Australia. As a proud South Australian, I find it satisfying to launch and grow a major national fintech company from Adelaide," says Baum.
"The Australian market was ready for a fully digital home loan. Australia has one of the highest take up rates of online banking in the world.
"The on-demand economy has shifted customer expectations when it comes to personal finance, but home loans have been left behind.
"We believe customers deserve a faster, easier and more transparent way to get a home loan; and Tic: Toc can deliver on this promise."
The fintech company has its current head office on North Terrace, Adelaide.
South Australian minister for investment and trade Martin Hamilton-Smith says he recognised potential in Tic: Toc's plan when he first came across it last year.
"When this was put to me in November last year I could see it was a great opportunity to grow the financial services sector in Adelaide," says Hamilton-Smith.
"This is 200 new jobs coming to Adelaide in the fintech sector backed by Bendigo Adelaide Bank."
"This is another win for IASA which has already attracted more than $1 billion in investment and created almost 6000 jobs."
Business News Australia
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