VersaBank - President and CEO, David Taylor
President and CEO, David Taylor
Source: Medium
  • VersaBank (TSE:VB) has enlisted In2ition Realty as a beta tester of its mortgage software app, Direct-Connect
  • The app will allow prospective property buyers know on-the-spot if they have been pre-approved for a loan and for what amount
  • Testing of the app originally began in February with Canadian builder, Cortel Group
  • VersaBank will pre-load Direct-Connect at In2ition’s pre-sales offices
  • Shares in the company are currently down 0.43 per cent, with shares trading for C$6.89 and a market cap of C$145.54 million

In2ition Realty is set to begin testing VersaBank’s (TSE:VB) high-volume mortgage software app, Direct-Connect.

Once operational, the app will allow prospective property buyers to instantly know if they have been pre-approved for a loan, as well as how much they are able to borrow.

In2ition Realty is a real estate broker, specialising in new home and condo communities.

VersaBank’s President and CEO, David Taylor, is pleased to have the company on board.

“We’re very pleased to be working with In2ition, who is at the forefront of innovation in the pre-sales process in the real estate market.

“VersaBank has a proven track record of successfully identifying lucrative niche opportunities in the financial services sector and developing unique solutions that fundamentally improve the interaction around financial transactions.

“Direct-Connect is the latest such solution, which we believe can be a game changer for the real estate industry in the pre-construction sales environment,” he said.

VersaBank will pre-load the app at In2ition’s pre-sales offices.

The software is designed to streamline the arduous and often complex process of seeking approval for financing. It’s hoped that the implementation of Direct-Connect will provide a smoother and more-hassle free service to VersaBank’s customers.

Debbie Cosic, founder and CEO of In2ition, is a firm believer that keeping on top of technological trends is pivotal in the changing real estate industry.

“Innovation is a key competitive advantage in today’s real estate market, and we believe home and condo buyers will greatly benefit from the ability of Direct-Connect to significantly streamline the financial approval process at our pre-construction sales offices.

“In2ition has built a reputation for leveraging innovation to better serve our customers, and we are excited to put Direct-Connect through its paces and help VersaBank to bring a new financial solution to the market that will benefit both buyers and the real estate industry,” she concluded.

Beta testing of Direct-Connect originally began in February this year with the help of Canadian home and condo builder, Cortel Group.

VersaBank is currently down 0.43 per cent, with shares trading for C$6.89 at 1:38pm EST.

More From The Market Online

Top crypto stocks and ETFs to consider before the Bitcoin halving

Read about 10 of the highest-performing Bitcoin stocks and ETFs leading up to the cryptocurrency's April 2024 halving.

Manulife hires banking business’ first female CEO

Manulife Bank, operating under insurer Manulife Financial (TSX:MFC), will be led by its first female CEO, Katy Boshart, beginning next week.

76% of Canadians still believe homeownership is out of reach

Buying a home feels out of reach for most Canadians who don't own property, yet half of non-owners are still holding onto that goal.