News Releases

EQ Bank's new Mortgage Marketplace revolutionizes mortgage shopping with a smarter, digital-first approach

TORONTO, May 3, 2021 /CNW/ - EQ Bank, powered by Equitable Bank, Canada's Challenger Bank™, announced the launch of its Mortgage Marketplace, a new digital service that will allow customers to shop over 2,000 mortgage products offered by Canadian lenders to get the best rates in the market.

Mortgage Marketplace is available at eqbank.ca and provides yet another way for Canadians to remove the headaches and nonsense of traditional banking – in this case, mortgages — while allowing access to the best digital experience possible.

"The traditional mortgage experience can be daunting, with mandatory in-person visits, lots of paperwork, and even more waiting," said Mahima Poddar, Senior Vice President and Group Head of Personal Banking for Equitable Bank. "Our new EQ Bank Mortgage Marketplace turns all that upside down and will pre-qualify customers in minutes, not days, with regular digital updates on the status of their application. We're excited to provide a smarter, transparent, and customer-first service for all Canadians, one that truly exemplifies what it means to bring about real changes that enrich people's lives."

EQ Bank's Mortgage Marketplace offers customers a customized recommendation that fits their needs -- all with a single application and a single credit check. In partnership with nesto, a digital mortgage brokerage, the easy-to-use platform and innovative algorithm analyzes the entire mortgage landscape in seconds. Customers will be given the best rates available and will be shown the best mortgage option for them, whether that's an Equitable Bank mortgage, or one from another lender.

Visitors to EQ Bank's Mortgage Marketplace will be able to apply online, review their options, speak to a nesto advisor over the phone, obtain pre-approval, and even have an advisor submit their application to the lender to get their mortgage approved. All online, in a fraction of the time a traditional application process takes.

EQ Bank was recently named #1 Bank in Canada on the Forbes World's Best Banks 2021 list and continues to lead the way in bringing about a smarter banking experience in this country. By allowing customers to earn more without the usual banking nonsense, EQ Bank is putting more money in Canadians' pockets while continuing to invest in technology that brings a value-added experience for customers. The EQ Bank Mortgage Marketplace puts the consumer first and is the perfect example of how we're making real change in the banking landscape in this country.

To check out the new EQ Bank Mortgage Marketplace, visit eqbank.ca

About EQ Bank 

EQ Bank, the digital banking platform launched in 2016 by Equitable Bank (a federally regulated Schedule I bank), provides state-of-the-art digital banking services. The Savings Plus Account reimagines banking by offering an everyday high interest rate, plus the flexibility of a chequing account, with free transactions, no everyday banking fees, no minimum balances, fast, cheap, and fully transparent international money transfers, and more—all from one account. Its Guaranteed Investment Certificates (GICs) also offer Canadians a wide range of options with competitive rates. EQ Bank continually challenges the status quo to bring better banking solutions to Canadians. To learn more, please visit www.eqbank.ca.

About nesto

Founded in Montreal in 2018, nesto is the first 100% digital and 100% free mortgage solution in Canada. Powered by exclusive technology, its algorithm can scan the entire Canadian market in seconds to offer thousands of future buyers the choice of the best mortgage rate among many lenders each year. Present across Canada, its unique digital solution aims to revolutionize the mortgage industry by streamlining the process from start to finish.

 

SOURCE Equitable Bank

For further information: Media contact: EQ Bank - Jessica Kosmack, 647-600-2512