Alterna Bank presents Canada’s first fully digital mortgage platform

Alterna Bank has just launched the first—and so far, only—end-to-end digital mortgage application in Canada with its fully online secure mortgage platform.

In a CNW news release earlier this week, the bank announced that its lending engine is specifically designed to provide “an easy-to-use, guided process that takes the stress, hassle and time out of what has previously been an arduous, confusing task for Canadians seeking financing to purchase a new home.”

The bank added that the platform—which is compatible with all digital devices currently available in the market—is aimed towards improving customer experience in the high-demand, high-volume Canadian mortgage sector.

“In the time it takes to get a traditional mortgage, you could lose out on three or four homes. Buyers are put through the wringer, forced to make multiple appointments, going from branch to branch to haggle for the best rate. It's nonsensical,” Alterna Bank CEO Rob Paterson said.

“Buyers should be spending their time finding the perfect home, not running around for the perfect mortgage. Our goal is to dramatically simplify what we believe to be an unnecessarily convoluted process by leveraging technology to save our customers valuable time and energy.”

Alterna officials said that the platform is designed to facilitate a more streamlined process through its ergonomic, user-friendly interface.

“After the credit decision, a customer portal helps walk the home-buyer through the steps toward funding their mortgage, including providing remote income verification,” the news release stated. “The pre-approval goes well beyond basic credit scores and uses a multitude of data sources to leverage business intelligence, ultimately ensuring the right customer gets the right mortgage.”

“Following mortgage pre-approval, the platform leverages the seamless workflow capabilities provided by Salesforce to assist the customer with step by step guidance for completing the application requirements and document exchange.”

Related stories:
Over 1K new, independent mortgage and credit card reviews now available
Commentary: Paying 20% down payment in full is the wiser choice today

Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate

Get help choosing the best mortgage rate

Just fill in a few details, and we'll arrange for a Mortgage adviser to help you find the best mortgage for your needs

  • How soon do you want a mortgage?
  • Name
  • Where do you live?
  • Phone number
  • E-mail address

Industry news

Submit a press release


Do you invest in commercial properties?