Anonymous Financial Services
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Next Challenge: What is your idea for a sustainable and cost-effective alternative to mineral oil? |
NOTE: This challenge is only for solvers in Canada, the United States, or the United Kingdom.
Today, the process of applying for and getting a mortgage requires many in-person interactions with physical forms and people. You may have to enter personal information on hard copy forms at a bank, where that information is entered into a computer program that you sit and wait on until the bank's advisor walks the customer through the results. If you use a mortgage broker, you fill out those same forms, which are sent to providers. Those providers return offers, and you take those offers to the bank to once again wait for results to be generated.
We understand that process is tedious, and want to make it easier to completely digitally, from first step to last. Help us craft the perfect, all-digital mortgage process so people don't have to take time out of their busy schedules to repeatedly be at a bank during normal business hours.
Consider these steps in the mortgage process:
- Pre-approval
- House hunting
- Purchase agreement
- Loan application
- Loan processing
- Mortgage underwriting
- Loan approval
- Closing
Tell us how you would make the mortgage process completely digital. Specifically, answer these questions in detail:
- For the steps listed above, how would you make each of them fully digital?
- For each, explain how your digitized process improves upon the current process.
- OPTIONAL: If you have been through the mortgage process, what part of the experience felt most difficult, cumbersome, or frustrating because it lacked digital options?
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Submissions will be graded on the following criteria:
- Meets Deliverables
- Creativity
- Clarity
will share $1,000
will share $400
will share $200
| $142.90 |
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Amy Fernandez University of Central Florida | |
| $142.90 |
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Dan Russo Fairleigh Dickinson University | |
| $142.90 |
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J C University of Alberta | |
| $142.90 |
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Shawn Hillier College of the Holy Cross | |
| $142.90 |
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Jennifer Miller Walden University | |
| $142.90 |
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Joey Latimore University of Houston-Downtown | |
| $142.90 |
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Raympond Sheen Massachusetts Institute of Technology | |
| $36.40 |
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K B Ferris State University | |
| $36.40 |
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Jonathan Marshall Louisiana Baptist University | |
| $36.40 |
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Jackie Christianson St Catherine | |
| $36.40 |
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Andrea Markowski University of Oregon | |
| $36.40 |
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Grace M. Florida State University | |
| $36.40 |
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Dyllan Hancott Yorkville University | |
| $36.40 |
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tianyi peng University of Waterloo | |
| $36.40 |
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Matthew Gaiser Queen's University | |
| $36.40 |
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Dr. Janelle Christine Simmons Liberty University | |
| $36.40 |
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Philis John | |
| $36.40 |
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Emily Hsiao University of California at Berkeley | |
| $11.80 |
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Dhruv Prajapati Drexel University | |
| $11.80 |
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Tabitha Dianne McCarl | |
| $11.80 |
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Garrett Hancott Yorkville University | |
| $11.80 |
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Gene Yang University of California, Santa Cruz | |
| $11.80 |
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Daniela O. University of California, Irvine | |
| $11.80 |
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Saurabh Jain Indian Institute of Technology - Kharagpur | |
| $11.80 |
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Donald Norris Jr University of Phoenix | |
| $11.80 |
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Yash Patel Bryant University | |
| $11.80 |
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Nikhil Patil McMaster University | |
| $11.80 |
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McCartney K University of California at Berkeley | |
| $11.80 |
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Stacey Chanthavong University of Central Florida | |
| $11.80 |
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Vartika Parekh | |
| $11.80 |
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Animesh Raj University of Petroleum and Energy Studies | |
| $11.80 |
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Karl R Georgia Institute of Technology | |
| $11.80 |
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Adam Ryzner University of Bath | |
| $11.80 |
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Morghan Miller North Hennepin Community College | |
| $11.80 |
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Lauren Sailes flemming |