Pineapple Financial Inc. Introduces Intuitive Mortgage Document Management, Doc Genius, for PineappleONE

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Apr 11, 2024, 08:05 ET

TORONTO, April 11, 2024 /PRNewswire/ - Pineapple Financial Inc. (NYSE American: PAPL) ("the Company" or "Pineapple"), a tech-focused mortgage brokerage with an integrated network of partner brokerages and agents across Canada, today announced the launch of Doc Genius, an intuitive, end-to-end document management system that seamlessly connects the highly-secured client portal to the deal conditions in the PineappleONE mortgage application, thereby streamlining the entire process.

Pineapple Financial Inc. | NYSE American: PAPL (CNW Group/Pineapple Financial Inc.)

"Doc Genius unlocks game-changing efficiency by automatically selecting the right conditions and lender requirements, saving time for Mortgage Brokers and clients," said Kendall Marin, Pineapple President and COO. "No more waiting for lender instructions—just seamless submissions and excitement."

Mr. Marin explained that Doc Genius empowers Pineapple brokers to effortlessly communicate to their clients vital details necessary for expediting the mortgage process and, at the same time, elevates client satisfaction by providing comprehensive guidance supplemented with engaging visuals and practical samples, ensuring a seamless experience without unnecessary delays.

Doc Genius serves as a comprehensive solution, offering guidance to Pineapple brokers and clients to generate the necessary documents to fulfill mortgage requirements while ensuring compliance. The need to manually email clients regarding outstanding conditions becomes obsolete, as Doc Genius autonomously follows up until all requisite files are collected. Moreover, it ceases document requests automatically once all conditions are satisfied, providing continuous updates to brokers throughout the process.

At the same time, PineappleONE consolidates all deal information into a single interface, providing insights such as the total number of conditions, outstanding conditions, completion percentage, and whether documents have been forwarded to the applicant's lawyer, thereby guaranteeing that lenders receive precisely what is required for swift deal approval.

"Doc Genius leverages PineappleONE to discern the intricacies and geographic specifics of homes across Canada," explained Mr. Marin. "Recognizing the variances in guidelines and conditions across provinces, this integration ensures precision and accuracy in our responses."

Pineapple CSO Christa Mitchell added, "Throughout this year, our award-winning technology team has achieved remarkable milestones, including the launch of AI-generated broker websites featuring Maui, our pioneering all-in-one deal management system, PineappleONE, and now, Doc Genius. This unparalleled innovation is attracting brokers to Pineapple."

Pineapple CEO Shubha Dasgupta stated, "As of today, Doc Genius has streamlined the document collection process, delivering a sweeter mortgage experience for brokers and their clients. Soon, Doc Genius will incorporate artificial intelligence to recognize document types and add more automation to PineappleONE."

Mr. Dasgupta said he believed that PineappleONE would likely increase the Company's gross revenue, which, in turn, would significantly impact Pineapple's net profit margin in the next twelve months.

About Pineapple Financial:

Pineapple is an award-winning fintech and leading Canadian mortgage brokerage network, focusing on both the long-term success of agents and brokers as well as the overall experience of homeowners. With approximately 700 brokers within the network, Pineapple creates cutting-edge cloud-based tools and AI-driven systems to enable its brokers to help Canadians realize their dream of owning a home. Pineapple is active within the community and is proud to sponsor charities across Canada to improve the lives of fellow Canadians.

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Safe Harbor Forward-Looking Statements

Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "is/are likely to," "potential," "continue" or other similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations that arise after the date hereof, except as may be required by law. These statements are subject to uncertainties and risks including, but not limited to, the uncertainties related to market conditions and the completion of the initial public offering on the anticipated terms or at all, and other factors discussed in the "Risk Factors" section of the registration statement filed with the SEC. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's registration statement and other filings with the SEC. Additional factors are discussed in the Company's filings with the SEC, which are available for review at www.sec.gov.

SOURCE Pineapple Financial Inc.