Moneycatcha Pty Limited’s digital platform, Regchain, has brought out a new major product called Stryd, a tool that would transform the home loan product and risk-based pricing solutions for lenders and aggregators.
Regchain’s Stryd engine is a first-of-its-kind tool that combines Consumer Data Right (CDR) data with extremely customizable lender products, pricing, and credit policies to provide completely personalized as well as automated client home loan product and price offers immediately.
The home loan origination ecosystem is hamstrung, with customers having to wait up to 42 days for their loans to be finalized, making it the main emphasis of Regchain Stryd. As client data is being gathered, Stryd automates the categorization of Consumer Data Right (CDR) data, provides a credit confidence score, as well as determines product fit. As a result, aggregators and lenders can provide customers with pertinent loan products and personalized pricing offers, maximizing lending margins while still adhering to regulatory requirements.
Additionally, all the criteria are greatly adjustable by any enterprise, therefore, Stryd can be utilized for a single product set or an entire marketplace of home loan products, allowing for a substantial competitive advantage.
According to Ruth Hatherley, the founder and Chief Executive Officer (CEO) of Regchain, their company is thrilled to deliver Stryd to financial institutions that are seeking to build their loan books through the utilization of cutting-edge tech so they may secure home loan clients more quickly.
The CEO stated that each product in their company’s library can be adjusted by each institution so that their product, credit, and pricing policies can be used in any distribution channel immediately. Regchain’s system has been built on a suite of simple-to-use Application Programming Interfaces (APIs).
Ruth Hatherley further stated that their clients will be able to remove their customers from the market unaccompanied by the need to make them go through the red tape that is now present in many organizations by swiftly integrating, testing, and deploying Stryd into their current home loan origination workflow. The company has also decided to use the widely used LIXI2 data standard, which will make it simpler for other systems to be integrated into their online mortgage workflow, as well as it will smoothen the entire origination and compliance reporting operations.
