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Until 2010, the decade-old mortgage market in Turkey was inefficient and predatory due to a lack of transparency and low financial educational levels. Konutkredisi.com.tr (Turkish for “home loan”) is the country’s first online loan brokerage platform, offering both mortgage and unsecured personal loan products from 16 of Turkey’s 21 major banks. Konutkredisi has become an important partner for borrowers and lenders alike. As Turkey’s home loan market is still emerging, Konutkredisi’s platform seeks to educate consumers in addition to allowing them to compare products easily. At the same time, Konutkredisi has helped banks improve conversion rates and find new customers.
Konutkredisi has helped customers to secure over 3,500 mortgages and nearly 4,000 personal loans. The platform covers 70% of the available mortgage products in Turkey. A call center connects consumers to consultants who work with them to select products and ensure efficient bank processing. Konutkredisi’s services are free for consumers. Banks pay a commission for each closed loan in exchange for higher closing rates. Nearly 35% of mortgage customers referred by KonutKredisi take out a mortgage within three months, compared to 5-10% of walk-in branch customers. Additionally, Konutkredisi provides banks with data-driven insights to improve loan funnel efficiency and conversion rates.
As the first and only full-service online brokerage in Turkey, Konutkredisi has a first-mover advantage to become the exclusive provider of branded personal finance content. The company has integrated with 16 banks and the entrepreneurs continue to seek new partnerships in order to expand their product offering.
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