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Bendigo launches fully digitised home loan

The non-major lender has announced the launch of a fully digitised mortgage product, powered by fintech platform Tic:Toc.

Bendigo has confirmed the launch of its Bendigo Express “instant” while-label home loan product, facilitated by digital lending platform Tic:Toc.

The bank has launched its product with a 3.89 per cent variable interest rate for owner-occupied loans with principal and interest repayment terms, and a 4.44 per cent variable rate for investment loans with principal and interest repayment terms.

Bendigo and Adelaide Bank partnered with Tic:Toc in November 2018 in a bid to access its proprietary technology to power the bank’s own instant home loan platform.

Loans are processed using Tic:Toc’s automated assessment tool, which Bendigo said “strips cost from the process and delivers higher responsible lending standards” via inbuilt regtech and digital validation of income and expenses.


Following the announcement, Marnie Baker, managing director of Bendigo and Adelaide Bank, said: “Today’s announcement is a direct reflection of Bendigo and Adelaide Bank’s continued targeted investment in innovation that matters to Australian consumers.

“The agreement with Tic:Toc supports our strategy to offer customers more choice and intuitive digital experiences.”

She added: “By partnering with fintechs, we continue to set the bar for best-of-breed solutions and outcomes for our customers, making it easier for them to engage with our bank and providing them with certainty more quickly in our fast-paced world.”

Founder and CEO of Tic:Toc Anthony Baum welcomed the launch of the Bendigo Express product, claiming that the digital offering would simplify the lending process for borrowers.  

“We created Tic:Toc because we knew there was a better way for Australians to get their home loans,” Mr Baum said.


“We’re excited Bendigo and Adelaide Bank is embracing this innovation to improve the customer experience when it can be done digitally and conveniently for more home owners and home buyers.”

Mr Baum added: “Offering our technology platform as a service for Bendigo and Adelaide Bank is our first enterprise partnership that will benefit from our automated assessment and approval technology.”

[Related: Bendigo to offer Tic:Toc tech to mortgage customers]

Bendigo launches fully digitised home loan
Bendigo Bank

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