Century 21 Launches PropTech Platform 'Finance21' to Revolutionize Mortgage Brokering
The major real estate group Century 21 has announced the launch of Finance21, a new property technology company aimed at transforming the mortgage intermediation process in Portugal. This PropTech innovation announcement details the firm's goal to double its annual brokered credit volume from €500 million to €1 billion by 2026. The platform is designed to democratize access to housing finance by reversing the traditional home-buying journey, focusing on establishing a client's financial viability before the property search begins. This strategic shift is intended to empower buyers to make more informed and sustainable decisions.
The specific technology solutions and applications at the heart of Finance21 are extensive. The platform features API integrations with most of Portugal's national banks, enabling real-time loan simulations and fully digital credit contracting. This level of integration provides significant user benefits and efficiency improvements over traditional brokerage models. The system automates the validation of essential documents by securely accessing data from official entities, including the Portuguese Tax Authority and the Bank of Portugal. This automation streamlines the application process, reducing manual effort and the potential for human error.
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The platform's market adoption and industry integration strategy is built on a hybrid model that combines advanced technology with human expertise. While the front-end experience is digital and agile, the service is supported by a network of over 400 credit intermediaries certified by the Bank of Portugal, ensuring clients receive personalized advice for critical financial decisions. Data analytics and artificial intelligence capabilities are employed in the back-end, particularly for validating data and conducting risk and solvency analysis. These mechanisms allow for faster and more accurate, personalized loan proposals.
Security and privacy considerations are paramount, with compliance systems developed in partnership with consulting firm EY to ensure adherence to all anti-money-laundering regulations. The cost structure for the user is designed to be transparent, aligning with the company's mission to create a fairer credit process. The company is also investing in professional training and technology adoption for its network of intermediaries to ensure a high standard of service. This innovation provides Century 21 with significant competitive advantages and market differentiation. The future technology development and features will continue to focus on enhancing the user experience and process automation, contributing to the ongoing industry transformation and digital evolution in the real estate sector. Stay updated on real estate technology trends at realestate-lisbon.com.