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CBA-owned fintech launches home-buying app

A fintech firm fully owned by the Commonwealth Bank has released an app that looks to simplify the process for customers buying a home.

X15 Ventures (X15), a wholly owned subsidiary of the Commonwealth Bank of Australia (CBA), was launched this week to deliver digital solutions for Australian consumers and businesses.

Leveraging CBA’s franchise network, security standards and balance sheet, the new entity is partnering with Microsoft and KPMG High Growth Ventures to harness their platform and engineering capability and advisory services, respectively.

One of the first businesses to launch within the X15 portfolio of businesses is Home-in, which is live for select customers.

It is a virtual home-buying concierge that allows buyers to navigate the purchase and mortgage process via a platform of accredited service providers.These include conveyancers and utility companies, and a dedicated home buying assistant, who will respond to queries.

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The app aims to help users access team members from across the home-buying spectrum (from lender, to lawyer, and buying assistant) through one platform, and store property documents in a centralised location.

The app will be offered to CBA home loan customers via the lender when they begin their home-buying discussion. Non-CBA customers can also access the app.

The platform reportedly has the capability of receiving data from CBA’s home loan systems (with customer consent), after which customers are onboarded and can see the progress of their home loan application.

Home-in is available for select customers as part of a closed beta phase, with customers invited to register their interest.

CBA and X15 also launched an app for small-business owners called Vonto, which draws data from various platforms and online business tools used by small-business owners and presents the data and analytics on the Vonto platform.

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[Related: CBA-owned fintech unveils small-business app]

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Malavika Santhebennur

Malavika Santhebennur is the features editor on the mortgages titles at Momentum Media.

Before joining the team in 2019, Malavika held roles with Money Management and Benchmark Media. She has been writing about financial services for the past six years.

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