Using the intuitive and easy-to-use idutch portal, borrowers and referrers alike can enter the high-level details of their deal.
If required, an idutch team member will make contact with the borrower to discuss the deal in greater detail and obtain any further information or documents.
Idutch will then on-board the client and assist in making the file ready for auction.
Step 2: Deal is Matched
Once the borrower has been authenticated by idutch, our Proprietary Smart-Matching Fintech will quickly and accurately identify the most suitable non-bank lenders for that specific deal.
In doing so, the idutch algorithm draws on many variable lender metrics, including leveraging, asset classes, product types, region, book size, specialisations etc.
Our lender data is not simply collected and stored. Rather, it is constantly updated to ensure that results are always accurate and timely.
Our intimate and long-standing relationships with our non-bank lender network allows idutch to deliver outcomes that extend far beyond raw data.
Step 3: Blind Bid
After the deal has been matched, idutch notifies the matched non-bank lenders through our online lender portal.
The matched non-bank lenders then are given 24 hours to confirm their interest and submit a high-level first round blind bid.
This bid is based on the interest rate only, with the other deal metrics remaining fixed (fees, term etc).
This way, all non-bank lenders are on an equal playing field and bidding down only on interest rate.
Step 4: Finalists
idutch selects the most competitively priced bidders to progress to the final auction.
The least competitive bidders are eliminated at this stage.
Step 5: Auction
The finalists are notified of their advancing to the final auction and are then given access to a data-room.
The data-room has all of the important information regarding the deal that idutch has assisted the client in preparing.
An auction date and time is set and the finalist non-bank lenders are notified. The auction is started, with the lowest bid from the blind bids being the opening bid.
During the auction period (usually 48 hours), non-bank lenders bid down on interest rate in a fight for your business.
The bidders know how many other bidders they’re bidding against, but don’t know their identity. This is to protect borrowers against collusion and potential price-fixing.
Borrowers have access to the live auction results through their idutch borrower portal.
Step 6: Winning Rate
Once the auction has ended, the bidder with the lowest rate wins your business.
Idutch then works with the winning bidder and the borrower to progress to formal loan documents.