Innovation Snapshot
Innovator:Finmo Financial Technologies (Finmo)
Location:Calgary, Alberta

Getting rid of the paperwork!

Applying for a mortgage is often one of the most complicated tasks a future homebuyer will undertake. Entrepreneurs, Greg Williamson and Carter Zimmerman came together to change that, and the idea for Finmo Financial Technologies was born.

Finmo’s digital platform for mortgage applications allows lenders to offer safe and secure digital transactions for homebuyers. Prospective buyers enter their information into an electronic mortgage application, which lenders then use to make a decision. All necessary documents go back and forth digitally, and the application is signed off with electronic signatures.

In 2020 Finmo was working with over 2,500 mortgage brokers, helping to complete 35,000 mortgage applications.

On October 27, 2020, Lendesk announced that they were acquiring Finmo. As Williamson says in the news release, “when considering who would be the best partner for Finmo, Lendesk was the obvious choice. The leadership has an intense drive to improve the broker-lender relationship, just as we have been focused on helping brokers better assist their clients. By combining these technologies, the mortgage experience will be improved for everyone involved.”

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