Skip to main content
Contact Us 1-800-596-4880

22 minute home loan decision

$2.15B in new

21 integrated technology systems


Eliminating paper-based home loan processes

Tic:Toc, an Australian fintech company, launched in July 2017 to transform the traditional home loan process and give Australians more control with a smarter home loan. Tic:Toc focuses on removing inefficiencies in the home loan approval and fulfillment process — enabling customers to abandon paper-based processes and easily submit loan applications online to receive instant decisions on their applications. 

The challenge with delivering instant home loan decisions, however, lies in the complexity of the traditional process. For example, for just one step of the process — validating a property purchased via a home loan — an applicant has to provide their property address, the bank then identifies an appraiser to visit the property, the appraiser provides the property valuation to the bank, and the bank follows up with the customer on any gaps. 


Integrating data to improve the home loan process

For Tic:Toc, delivering with a seamless, instant, home loan application experience required: 

  • Integrating core system data from e-form applications, valuation and verification services, the credit bureau, scorecards, and more  
  • Offering real-time document generation and home loan decisions
  • Delivering their new product to market quickly to gain a competitive advantage


Delivering an instant, real-time loan decision

To automate the home loan process, Tic:Toc used APIs to unlock data from an e-form application as well as 21 other systems.

Using APIs, Tic:Toc drastically reduced the amount of information that customers have to provide and automated previously manual tasks, such as validating the customer’s identification and financial background as well as the property valuation. 

With Tic:Toc, customers can simply enter the property address, then the Tic:Toc technology integrates that data on the back-end with a property database to instantly calculate the property value via their automated valuation model. The same automation approach was mirrored for other stages of the application process. 


Reducing the loan application process from 22 days to 22 minutes 

As a result of this approach, the company was able to launch an innovative home loan experience, where customers can receive full home loan approval in as little as 22 minutes, compared to the 22-day industry average. Since its launch, Tic:Toc has received home loan applications valued at more than $2.15 billion. 

TicToc mobile app

“Using MuleSoft’s Anypoint Platform, we have created an innovative service that drastically reduces the time needed to apply and be approved for a home loan. By taking an API-led approach to connecting the systems required to evaluate loan applicants, we’ve eliminated the manual submission process and radically changed the game in the financial services space.”

Anthony Baum

Anthony Baum
CEO, Tic:Toc

Due to the success of Tic:Toc’s solution, the company has ‘white-labeled’ the solution so that third-party partners can use Tic:Toc’s proprietary technology to power their own instant home loan. Tic:Toc will be releasing additional enterprise solutions in the future — enabling other institutions to benefit from the efficiencies Tic:Toc’s automated credit decision and reg-tech solutions offer.