Ownest Joins the Prestigious Holt Accelerator 2020 Program

FOR IMMEDIATE RELEASE

Ownest Joins the Prestigious Holt Accelerator 2020 Program

Selected as Top 1% of All International Fintech Applications

 

Calgary, Alberta – August 6, 2019 – Ownest Financial (Ownest), an innovative provider of autonomous financing software, is pleased to announce that the Company has been selected to join the Holt Accelerator 2020 program. Ownest is one of only two Canadian companies to join this year’s program.

Ownest’s autonomous financing solution was created by the Company’s Founder and CEO, Kendall Raessler, who has more than 25 years of industry experience as a top mortgage expert in Canada. In 2019, the company launched a comprehensive mortgage point-of-sale portal for borrowers to easily self-manage a simple online application to pre-qualify for a loan – aggregated from over 22,000 mortgage products.

Since then, the software was enhanced to benefit borrowers, lenders and businesses that offer financing for their products by merging the innovative features of the mortgage portal with the functionality of a CRM and Loan Originating System. The cutting-edge, AI-driven platform automates most time-consuming, manual tasks performed by sales teams in the lending space. Ownest’s fully customizable widget-based interface drives qualified leads directly from the point-of-sale and their Pront-O app significantly reduces credit risk by quickly qualifying and intelligently screening the applicant’s borrowing capabilities. Ownest’s comprehensive platform also provides in-depth business intelligence data and is the only financing software solution of its kind that rewards partners with referral and annuity bonuses.

Kendall Raessler, Founder and CEO, stated, “We are thrilled and grateful to have been selected to join the Holt Accelerator 2020 program. Their expertise will help us achieve our aggressive growth targets.” He added, “The pandemic created an economic climate that requires leaner teams and a remote workforce. Our secure, cloud-based platform is a perfect solution to address those challenges – while creating operational efficiencies of up to 70%. Our current focus is on mortgages, but our end-to-end software solution will truly revolutionize the way people borrow and lend money. We’re very excited about the future of financing.”

“We are excited to have selected Ownest, following an extensive vetting process”, stated Jan Arp, Founding Partner, Holt Accelerator. “With over 720 international applications received this year for a coveted spot in the Holt accelerator, Ownest’s financing software capabilities stood out as a necessary innovative solution in a market overdue for disruption. I am proud to welcome Ownest as part of our 2020 family.”

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About Ownest
Ownest started in 2012 with the goal to innovate how financing is done around the world. In 2019, the Company launched its B2C software to empower homebuyers to obtain financing online by aggregating best lenders and best rates from over 22,000 mortgage products. Since then, Ownest has shifted their core focus to a cloud-based B2B SaaS model, providing their partners an AI-driven platform that quickly qualifies and intelligently screens potential borrowers. Their cutting-edge platform is designed to drive qualified leads, increase revenue and significantly streamline operations through autonomous financing while providing in-depth data-driven business intelligence. www.OwnestFinancial.com.

About Holt Accelerator
Backed by Holdun, a 5th Generation Family Office, Holt Accelerator is Canada’s most active seed fintech investor. Holt Accelerator is the only business accelerator in Canada that’s focused exclusively on fintech, including insurtech and cybersecurity. Holt tracks over 10,000 early stage fintechs globally and solicits the ones that present a best match with our Partner & Advisory network (over 300+ and growing). They have received over 1,800 applications from over 75 countries, in which they invest in the top 1% of applications globally.


Contact Information:

Kendall Raessler, CEO
Phone: 1.855.699.2400 Ext. 101
Email: Kendall@ownest.ca

 

The Five Cs of Credit and Why It Matters

The Five Cs of Credit

and Why it Matters

 

What Are the Five Cs of Credit?

The five Cs of credit is a set of criteria used by lenders to gauge the creditworthiness of potential borrowers. This type of approach weighs five different characteristics of potential borrowers and conditions of the loan, to help predict the chance of potential default and overall risk or loss for the lender.  The Five Cs are: Collateral, Credit, Capacity, Capital and Character.

Explains the 5 C's of Credit

 

Why is it Important to Use the Five Cs of Credit?

Evaluating a borrower’s creditworthiness based on the Five Cs of Credit is important because it gives the lender a better overall picture of the borrower and their ability to pay off the loan. It also takes into consideration the more “personal” side of financing by considering the borrower’s character, as opposed to simply looking at past credit history and collateral. For example, if the credit check reports a default payment, it could have been due to unique or rare circumstances, such as an illness or divorce. These types of questions will help lenders understand the borrower’s credit – looking back to the credit history and looking forward to the client’s future capacity.

Save Time: Ownest’s Software Automatically Calculates the Five Cs

One of the biggest challenge when it comes to financing is knowing the actual creditworthiness of a potential purchaser or borrower. For example, if someone is interested in purchasing a home, the sales associate spends a lot of time with the customer during the sales journey. Waiting for a mortgage approval can take 7 – 10 days, and in the meantime, your sales team is spending valuable time building a relationship with a client who may not be approved for financing.  Wouldn’t it be nice to know this information at the beginning of the sales journey?

Ownest’s Pront-O app instantly pre-qualifies and intelligently screens
applicants based on their actual borrowing ability.

 

Ownest's Pront-O app Instantly Pre-Qualify Borrowers with the 5Cs of Credit

 

The software performs a soft credit check using the Five Cs of Credit, then sorts and ranks the leads by  summarizing the information in an easy-to-read stoplight snapshot (green, yellow, red rating system). This data  empowers our affiliate and lender partners with key insight and visibility of the borrower’s overall credit profile – faster and more accurately than any other software on the market – so you know where you’ll get the best return for your sales efforts.

 

How Much Time and Money Will You Save?

 

Whether you’re a lender or a company that offers financing for your products, Ownest software can provide valuable insight and streamline your sales process. Pronto’s pre-qualification capabilities are just one of the many features of our revolutionary software. Contact us to schedule a demo today!

Request a demo of Ownest Software