IDF Eurasia started Online-Ipoteka Mortgage Supermarket
The IDF Eurasia Group in Russia has announced the launch of Online-Ipoteka project, a platform for remote mortgage and collateral lending services for individuals and legal entities.
Two credit products are already available to individual customers from more than 20 Russian regions. The first is a mortgage to purchase housing in the secondary real estate market (apartment, house with land plot) at 7.7% per annum. The second is a consumer loan secured by existing housing at 9.9% per annum.
In the near future, we will update the range of offers with products for entrepreneurs and legal entities, in particular, loans for business development and the purchase of commercial real estate.
One of the first project partners is TKB BANK. According to the agreement with TKB BANK Online-Ipoteka is responsible for the marketing component, scoring customer evaluation, consulting and comprehensive support before transaction. The partner provides financing and support for the issued loans. Other partners include DOM.RF, Rosbank, UniCreditBank, with which agency service agreements are concluded.
In the future, the project will be actively scaled up due to the regular expansion of partner banks and geographical coverage of target audience. By the end of the year, it is planned to involve at least 20 credit institutions to the service. It will allow residents of all regions to use the platform’s services.
The project goal is to create an online platform Number 1 in Russia for mortgage and collateral lending based on a unique IT infrastructure. The Group’s successful international experience in digitalization of financial products has made it possible to implement the entire process online, where approval takes up to 15 minutes, and money is transferred within 1 day.
In 2020, the growth rate of the total mortgage portfolio of Russian banks exceeded 20% against the background of record-breaking volume of mortgage loans. According to the forecasts of IDF Eurasia, in 2021, the growth rate of mortgage lending can reach 13-15%. At the same time, due to the COVID-19 pandemic, the volume of online retail lending was actively growing, which even among conservative banks reached 10-15%. The combination of customer interest in mortgage lending and online services provides grounds for optimistic forecasts of market development, providing demand for online supermarket services from credit institutions.
Irina Khoroshko, CEO of IDF Eurasia in Russia:
“As a fintech company with extensive experience in data and scoring technologies, we decided to use this practice to scale our business. Our own pilot projects and professional support at each transaction stage allow us to analyze borrowers and offer them special conditions for products that they might not have received, or even face rejection if they had independently dealt with the issue. The total volume of planned investments in the project is 1.5 billion rubles. According to our forecasts, in five years the number of customers should exceed 500 thousand people, and the total amount of issued financing — 70 billion rubles. In general, the project itself is a unique example of how alternative lending services and representatives of the banking sector can mutually cooperate.”
Evgeny Ivanovsky, CEO of TKB BANK PJSC:
“We consider participation in the implementation of Online-Ipoteka marketplace as an important milestone in the development of the Bank for Fintech project. Today, this area is one of the priority and promising areas for us within the business development strategy of the TKB Banking Group. In this project, the combination of traditional banking, remote services and fintech will allow us to attract a new active audience. The Bank has been cooperating with the companies of the IDF Eurasia holding for many years, and I am sure that we will succeed in this new field.”