LoanSnap Breaks New Ground as the First Mortgage Company to Enter Visa's Fintech Fast Track Program

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Feb 07, 2024, 09:00 ET

SAN FRANCISCO, Feb. 7, 2024 /PRNewswire/ -- LoanSnap, the inventor of SMART Loans, LoanFlow and a trailblazer in the industry, today announced a groundbreaking development in the financial industry: It is the first mortgage company ever to be accepted into Visa's prestigious Fintech Fast Track program. This unparalleled achievement marks a significant milestone in the mortgage industry, positioning LoanSnap at the forefront of fintech innovation.

By joining Visa's Fintech Fast Track program, LoanSnap stands at the vanguard of a financial revolution, leveraging Visa's vast network and resources to enhance its unique SMART Loan offerings. This inclusion not only validates LoanSnap's pioneering technology but also paves the way for transformative changes in how consumers get a mortgage. Imagine the proceeds from your SMART Loan being sent to your eligible Visa debit card in near real-time^¹ after signing your loan paperwork.

Karl Jacob, CEO and co-founder of LoanSnap, shared his excitement: "Being the first mortgage company to join Visa's Fintech Fast Track program is a powerful endorsement of our innovative and customer first approach at LoanSnap. This collaboration is a game-changer for us and the industry at large. It propels our mission to simplify financial decision-making and strengthens our commitment to enhancing financial stability and convenience for our customers."

LoanSnap's selection for this program reflects its exceptional strides in integrating advanced AI and machine learning to reshape the mortgage lending process. The company's platform, www.goloansnap.com, is designed to provide a personalized and holistic view of a consumer's financial health.

The collaboration with Visa will accelerate LoanSnap's ability to scale its cutting-edge solutions - offering a smart, efficient mortgage process nationwide. The first step will be delivering the proceeds from a home loan directly to an eligible Visa Debit Card enabled by Visa Direct's push-to-card capability. The integration of Visa Direct capabilities will further streamline LoanSnap's services, offering consumers a seamless, secure, and expedient financing experience.

"Achieving this industry first is a testament to LoanSnap's innovative spirit and commitment to redefining the mortgage space," said Jim Schinella, SVP and Global Head of Digital Partnerships, Visa. "We are thrilled to support LoanSnap in their journey and are excited about the potential impact of this collaboration on consumers and the broader financial ecosystem."

This milestone is a bold step forward for LoanSnap, reinforcing its role as an innovator and leader in the mortgage industry. With Visa's support, LoanSnap is set to expand its influence, bringing smarter, faster, more accessible financial solutions to homeowners across the United States.

About LoanSnap
LoanSnap is at the forefront of fintech innovation, dedicated to improving American financial health through advanced technology. The company specializes in SMART Loan solutions, offering personalized insights to empower consumers in their financial decisions. The company also created LoanFlow which empowers mortgage companies and independent loan officers to offer SMART Loans to their customers. For more information, visit www.goloansnap.com. For press inquiries please contact [email protected]

^¹ Actual fund availability depends on receiving financial institution and region.

SOURCE LoanSnap, Inc