Pineapple Financial Inc. Introduces the Mortgage Industry's First-of-its-kind, All-in-one Deal Management System, PineappleONE

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Apr 04, 2024, 08:05 ET

TORONTO, April 4, 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 PineappleONE, the first all-in-one deal management system that allows brokers to originate, manage, and submit mortgage deals to lenders and see all of the details of their mortgage deal in one time-saving view.

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

Unlike the other five deal origination platforms in the Canadian mortgage industry, PineappleONE manages the entire deal process seamlessly from one system, eliminating the guesswork for brokers when selecting the right lender pool and submission agent. With a click of a button, the system automatically generates lender-specific notes, saving time and ensuring accuracy when submitting mortgage deals to lenders. It also automatically merges documents into a package, ensuring lenders get precisely what they need to approve the deal.

PineappleONE combines advanced automation systems to create an intuitive experience. The system is designed to evolve with the broker's behaviour, recognize their preferences, and learn from their actions. It transforms how Pineapple brokers interact with lenders and clients by automating daily tasks, reducing errors, providing the ability to email and call clients directly from the deal application, and unifying critical functions to maximize speed and efficiency.

Built from the ground up over the past year by Pineapple's award-winning technology team, the system is expected to increase the Company's gross revenue, which will significantly impact net profit margin in the next twelve months.

"With industry-leading automation, an intuitive workflow, and built-in compliance, PineappleONE will help our brokers submit deals faster and improve their acceptance rates, thereby driving more revenue," said Pineapple President and COO Kendall Marin. "Using this system, our brokers will get 100 percent of the required conditions when choosing a lender. Our innovative document management system, Doc Genius, instantly generates accurate conditions in the application and syncs the documents to the client portal based on the selected lender and their products.

"I am very proud of the work our technology team has achieved over the past year to build out this incredible system at an unparalleled pace."

Pineapple Chief Strategy Officer Christa Mitchell added, "Once again, Pineapple is at the forefront of innovation in the Canadian mortgage industry. PineappleONE is a significant competitive advantage and will further enhance our agent recruitment efforts as we expand across Canada in 2024."

Pineapple CEO Shuha Dasgupta stated, "Engineered with the latest mobile-first functionality, PineappleONE ensures that brokers can complete their mortgage deals anywhere, giving them back valuable time to build their book of business and spend cherished time with their families."

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.