CrediTú revolutionizes the way people access mortgages in Chile

SANTIAGO, Chile, July 8, 2019 /PRNewswire/ -- CrediTú is a FinTech lender that has disrupted the competitive Chilean mortgage market, issuing loans in Chile to provide financing for the acquisition of real estate. Last year it explained more than a 90% increase in non-bank financial mortgage loans, despite only focusing on new homes (for now), making CrediTú the fourth largest institution in the industry, reaching a 13% market share in its first operational year. In this period, mortgage loan amounts have totaled US$ 40 million and are expected to grow to US $120 million this year.

But what does this mean for someone looking for a home? "It´s more access, better service, and convenience," says CrediTú´s CEO, Francisco Eterovic. "We provide real access to people for whom it was previously impossible to obtain, or if they could it was through much more expensive instruments," he adds. Thus, CrediTú does not fit into any of the traditional financial companies, but through its innovative digital mortgage model, it gives underserved people, from all segments, the possibility to finance a property without competing directly with banks.

The agility with which CrediTú operates has revolutionized the market. "Whereas with a bank the process can take over three months, at CrediTú a person can ask for a loan on a Monday and be signing the sales contract on a Friday", says Eterovic. This is because of its parametric model and highly automated system, which allows a faster process and response.  

Eterovic also explains that the short-term focus is placed on two areas: expanding their services in different countries, since they hope to reach Peru, Colombia, Mexico, and Brazil, and by continuing to develop digital solutions to improve internal processes and the client's experience. Eterovic continues, "we want to export this model internationally and change the traditional credit process as it is known today all over the world, transforming the way people access mortgages".

About CrediTú:

CrediTú is a regulated company that specializes in giving mortgage loans in Chile to provide financing for the acquisition of real estate. Its growth is provided by four distinctive elements:

• Access, providing financing to segments that have been unattended by the banks.
• Speed, CrediTú is faster providing quick service with automatic approvals and simplified processes.
• CrediTú gives the customer a real digital experience to accessing their new home.
• Solid alliances with lasting and powerful partners in real estate and with institutional investors.

We continually challenge ourselves to generate new financial opportunities for people who do not have the chance to access finance through the traditional banking system. We develop and use technologies to give an agile experience to clients, fulfilling people's dreams, easily, simply, and digitally.

SOURCE CrediTu