Former CBA chief digital officer launches mortgage fintech True Savings
Former Commonwealth Bank of Australia (CBA) chief digital officer Pete Steel has announced the launch of his new venture, digital mortgage broker True Savings.
The Sydney-based fintech offers an online platform that searches the market to provide real-time mortgage comparisons for new buyers and refinancing options for existing homeowners.
Founder and CEO Steel worked at CBA for over 16 years, most recently as executive general manager of the firm’s digital operations. He left in 2020 to take up the role of senior adviser, digital transformation at Boston Consultancy Group.
Announcing the launch on LinkedIn, Steel says: “I’m delighted we’ve launched our new digital + expert True platform to help Australian families take control of their home loans.”
The company says the launch comes off the back of “months of beta testing” and claims its new True Check feature takes “less than a minute” to search for home loan options.
The news follows the acquisitions of two digital mortgage brokers last week, with US digital homeownership platform Better snapping up UK firm Trussle and RVU buying Mojo Mortgages.
Aussie neobank Volt also acquired fintech Australian Mortgage last week as it seeks to deliver a digital mortgage solution.