New mortgage exchange launched

Mobiliar, Swisscom, Vaudoise, Clientis Zürcher Regionalbank and EY have launched the joint venture Credit Exchange, a stock exchange-like auction platform for mortgages.

A new auction platform for mortgages has been launched (Image: depositphotos)

Credit Exchange (CredEx) wants to link the supply of mortgages in real time with the individual demand of homeowners. This is made possible by a platform that connects all the partners involved - banks, insurance companies, pension funds - according to CredEx.

In the future, real estate owners will no longer have to contact many lenders, but only one financial advisor who will find the right mortgage via the CredEx platform. Insurance companies and banks could use CredEx to better diversify risks, the statement continues: They can also offer their customers long-term mortgages if they do not want to provide them themselves due to new regulations (stable funding ratio) or lack of access to long-term financing sources.

The lenders, in turn, gain access to a large network of distribution partners with the platform and can thus penetrate small and previously untapped markets. This also makes the new platform attractive for pension funds, which can use it to enter the mortgage business in the first place, according to CredEx.

CredEx has a strong position specifically in the area of medium-term mortgages, he said, which is a competitive advantage, especially in light of the current rise in interest rates for long fixed-rate mortgages. The company does not target end users directly, but is purely a business-to-business operation.

Clientis Zürcher Regionalbank, Mobiliar, Swisscom and Vaudoise are jointly launching CredEx; EY (Ernst & Young) is a strategic partner. The five companies accompany the further development as active members of the board of directors. CEO of Credit Exchange AG is Hanspeter Ackermann, who previously worked for Bank Cler and Credit Suisse. (ah)

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