CBA to launch Unloan, next generation of home lending

Commonwealth Bank of Australia (CBA), together with x15 ventures (x15), will soon launch Unloan – a digital-only home loan business. Customers will have their home loan approved in as little as 10 minutes, via an online application experience that leverages various digital verification methods, including Open Banking.

First announced at CBA’s Full Year Results in August, Unloan represents another step in the Bank’s strategy to reimagine its products and services to bring greater value to its customers and deliver a global best digital experience.

At the time of the announcement, CBA’s Group Executive, Retail Banking Services, Angus Sullivan, said: “CBA wants to remain a leader in Australia’s digital banking space and continues to aim to be at the global forefront of the digital experience. With more than one in four Aussie home loans with the Bank, this is a natural and fitting next step in our digital strategy, which continues to put our customers changing preferences at the forefront.

“The COVID-19 pandemic has been a profound accelerator in the shift of customer behaviour, with record numbers of customers now banking digitally. Further, despite extended lockdowns in Sydney and Melbourne, the housing market continues to remain strong, with low-fixed rates likely to buoy confidence in the upcoming spring auction season.

“As the country’s biggest supporter of getting Aussies into homes, we are reimagining the home lending process so customers can quickly get their home loan approved – with the confidence of knowing CommBank is behind it.”

Unloan will be available to early access customers later this year. For early access, join the waitlist at

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