Wednesday, 11 October 2017 01:44

Tic:Toc powers home loan approval system with MuleSoft

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Financial services and home loan approval startup Tic:Toc has selected MuleSoft's Anypoint Platform to power its real-time home loan approval system.

Tic:Toc chief executive Anthony Baum says the company selected MuleSoft to ensure it could enter the market as quickly as possible ahead of any potential competitors.

“Anypoint Platform enables Tic:Toc to connect the various systems in the company's proprietary loan approval process through an application network, using APIs to enable Tic:Toc to quickly and securely share data, regardless of format or source.  

“Building an application network with MuleSoft has assisted us to slash home loan processing times from hours to minutes."

According to Baum, using MuleSoft’s Anypoint Platform, the company has created a unique 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.

"We were able to get up and running on Anypoint Platform quickly, thanks to MuleSoft’s partner, WhiteSky Labs, and the built-in connectors and policies offered by the platform. Because we were creating the new platform from scratch, the process involved integrating a large number of different components. These included connections with external systems that provide information such as property valuations, customer borrowing ability and credit checks.”

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Peter Dinham

Peter Dinham is a co-founder of iTWire and a 35-year veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

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