The bank belonging to Swiss insurer Baloise is using the tools provided by fintech to launch its own online real-estate offering – going one step further than rivals have so far.
Baloise Bank SoBa today launched its real estate application, a first in Swiss banking, the company said in a statement. The bank is a unit of Swiss insurer Baloise.
Home owners can agree to sign a new mortgage using the so-called «Baloise Hypo App» via their smartphone. They receive an offer for an interest rate having answered six questions, an offer that remains valid for one week.
The rate decision by the bank is automatic, the owners make their own valuation with the help of comparable homes and documents can be scanned.
A Letter to Conclude an Online Agreement
After the digital part of the process has been concluded, the bank will send the contract by letter to the prospective customer. The clients who agree to sign a mortgage using the application also receive a free-of-charge valuation of their home provided by IAZI real-estate specialist.
Further real-estate applications will likely follow soon. Several banks have offerings where customers can agree to take mortgages online, with the cantonal banks of Basellandschaft and Glarus taking pioneering roles.
