Australian neobank Volt has acquired fintech lender Australian Mortgage to speed up the mortgage approval process as part of its banking-as-a-service offering. The deal will see Volt cut turnaround times for mortgage approvals from weeks to as little as 15 minutes.
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Volt acquires Australian Mortgage
“Bringing in a lending component to our BaaS platform completes our transition from a fintech start-up to a full-service challenger bank with a multi-channel revenue capability, purpose-built to rapidly scale lending volume.” said Andrew Clouston, Volt chief customer and partnerships officer.
