Streamlining Finetch with Xertilox
Xertilox revolutionises mortgage and financial services by digitising and streamlining the data submission and verification process through a secure, centralised wallet.
Key Features
Digital Data Conversion: Applicants can scan and upload documents (e.g. pay slips, bank statements) to convert them into digital, verifiable data.
Integration with Official Sources: Xertilox connects to Open Banking and government databases to validate income directly from bank accounts and verify proof of address via official records.
Reusable Wallet-Based Verification: Once verified, all applicant data is securely stored in their Xertilox Wallet. Applicants simply share their Wallet ID with brokers, lenders, or conveyancers to authorise access to their pre-verified data.
Real-Time Verification: Lenders and brokers can instantly verify income, affordability, and eligibility with a single click, reducing operational steps.
Aggregated Checks: Xertilox provides consolidated checks for banks and lenders, covering all required verifications (e.g., income, affordability, compliance) in a single action.
Business Impact
Example Impact for a Lender Application Processing
Processing Time
Traditional Process
4–6 weeks
Xertilox Process
Real-time
Savings/Impact
4–6 weeks faster
Customer Drop-Off Rate
Traditional Process
30–40% due to delays
Xertilox Process
<5% due to streamlined process
Savings/Impact
Higher conversion rates
How Xertilox Solves Specific Challenges
Repetitive Data Requests
Applicants upload data once to their wallet, making it reusable across brokers, lenders, and conveyancers.
Manual Data Handling
Automated document parsing and integration with Open Banking eliminate manual steps, reducing errors and time.
High Operational Costs
Aggregated checks reduce the number of separate verifications, saving up to 75% in operational costs.
Lengthy Timelines
Real-time verifications allow decisions to be made within minutes instead of weeks.
Conclusion
Xertilox brings efficiency, accuracy, and customer empowerment to the mortgage and financial services industry. By digitising data collection, integrating with official sources, and enabling reusable wallet-based verification, Xertilox not only reduces operational costs and processing times but also creates a seamless experience for applicants.
For banks, lenders, and brokers, Xertilox transforms the traditional mortgage process into a faster, smarter, and more customer-centric journey.