RealTime IT News

Basis100 Sets Up TD Bank with Lending Tool

[Toronto, CANADA] Basis100, an e-commerce technology provider for the financial services industry, has signed a servicing agreement with TD Bank Financial Group to supply TD with mortgage origination technology.

The Basis100-powered solution allows TD to interact directly with consumers through a growing number of Internet portals.

"With 2.7 million online customer accounts worldwide, TD is currently positioned at the forefront of the global online financial services arena," said Chuck Hounsell, senior vice president, e-Bank Canada, TD Bank Financial Group.

"An increasing number of mortgages are beginning on the Internet. Basis100's technology platform enables us to extend our market reach. It supports the steps involved in securing a mortgage from application through to facilitating adjudication by the lender in question."

Basis100's mortgage software uses OME Technology, and provides many lending institutions with Web-based pre-qualification, and application submission capabilities.

The combination of technology and business application software allows consumers to input a mortgage application online, view the different options available to them, and then apply directly to the financial institution of their choice.

The new TD service can be accessed through several consumer portals such as E*TRADE Canada and Canada's largest multi-lender mortgage Web site theMortgage.com.

In Canada and abroad TD Bank Financial Group serves approximately 13 million customers in five key areas: personal banking, commercial banking, wealth management, discount brokerage services, and investment banking.

It ranks among the top three financial services firms in the world as measured by online accounts.