Contact Martin

Telephone: +61 8  8271 6448
Fax: +61 8  8373 3158

SA-based fintech firm launches world’s first online home loan

Tuesday, 11 July 2017

The State Government has partnered with SA-based fintech company Tic: Toc and the Bendigo Adelaide Bank to bring 200 new jobs and investment in banking to South Australia.

Tic: Toc has announced today it will launch the world’s first complete online home loan platform, creating new jobs in SA including relocations from Perth and Sydney to Adelaide to radically expand its 14-person Adelaide office.

This will be the world’s first online home loan platform offering customers home loan approval in just 22 minutes, instead of 22 days.

Backed by Bendigo and Adelaide Bank this new fintech venture will take online banking to a new level. The State Government approved a $900, 000 grant to Tic: Toc through the Investment Attraction Agency’s (IASA) Economic Investment Fund, without which this venture may have gone interstate.


The Tic: Toc online lending platform uses a digital system to assess and approve an online application in real-time, without the need for a human credit assessor.

This allows Tic: Toc to radically improve turnaround times from the typical 22 days to just 22 minutes, as well as pass on the cost savings of digitisation to the customer via competitive interest rates and no application, settlement or valuation fees.

By delivering the first genuinely online and fully automated home loan, Tic:Toc hopes to redefine the way customers secure home finance, and disrupt the home finance landscape on a world stage.

The world leading fintech company has its head office on North Terrace, and is expected to create up to 200 full-time positions over the next five years. Bendigo and Adelaide Bank backs Tic: Toc is underwriting the loans and supporting the application’s development.

Quotes attributable to Minister for Investment and Trade Martin Hamilton-Smith

In the past fortnight we’ve seen big and costly campaigns from the banks claiming the lights are out in SA, that there’s no investment here. Today’s announcement is yet another example that shows this campaign has absolutely no foundation and shows yet again the level of innovation coming out of this state.

When this was put to me in November last year I could see it was a great opportunity to grow the financial services sector in Adelaide.

The firm’s foundation management team has worked all over the world including London, Hong Kong and interstate, however half it’s members originate from and were educated in Adelaide.

This is 200 new jobs coming to Adelaide in the fintech sector backed by Bendigo Adelaide Bank, which disproves claims by the big four banks that Adelaide is not a red hot investment destination of choice.

This is a case of jobs and migration from other states in SA. Tic: Toc and Bendigo Adelaide Bank are proving the big four banks have it wrong when they talk down SA.

Management and operational jobs will be created both at Tic: Toc and Bendigo Adelaide’s offices and the investment will result in a $209million contribution to GSP by 2025-26, achieving gross impact on GSP of $758 million over 10 years in 2015-16 values.

This is another win for IASA which has already attracted more than $1billiion in investment and created almost 6000 jobs.

Quotes attributable to Tic: Toc founder and CEO, Anthony Baum

The beauty of being a digital business is we can base ourselves anywhere in Australia, and deliver the same great service to all our Australian customers.

Fintech is a major growth sector, both internationally and within Australia. As a proud South Australian, I find it satisfying to launch and grow a major national fintech company from Adelaide.

The Australian market was ready for a fully digital home loan. Australia has one of the highest take up rates of online banking in the world. The on-demand economy has shifted customer expectations when it comes to personal finance, but home loans have been left behind. We believe customers deserve a faster, easier and more transparent way to get a home loan; and Tic: Toc can deliver on this promise.

Other ‘online’ home loan providers digitise only part of the process, so while their application may begin online, it ends in the exact same way every other traditional home loan process does.