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Here’s How Blockchain May Shake Up Mortgage Lending

Blockchain is poised to overhaul the mortgage industry, as service providers attempt to harness the currency’s power to reduce cost and streamline processing.

By Lynn Pollack | August 31, 2021 at 09:16 AM

Global firm Zventus recently revealed that it would launch a blockchain lab for the financial services industry with a specific focus on “modernizing the mortgage sector.” The firm said the initiative will develop new products, services, and solutions to enhance the loan process to make loan processes more secure and economical.

Zventus says its Mortgage Blockchain Lab, which brings together mortgage domain experts, tech partners, and universities focused on blockchain R&D and delivery, could reduce costs for financial services firms by up to 50% per loan. It is targeting the creation of 1,000 new blockchain tech jobs by 2024.

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