TORONTO, Jan. 19, 2023 (GLOBE NEWSWIRE) — 8Twelve Financial Technologies Inc. (“8Twelve” or the “company“) is pleased to announce that it has reached an agreement to provide mortgage solutions to Dwello.

Dwello is dedicated to providing equitable access to credit for all Canadians. Tenants can sign up for free to pay rent through Dwello’s payment platform. Your rent payments are reported to Equifax Inc., one of the largest credit reporting agencies in Canada. Over time, making payments on time helps improve credit scores, unlocking cheap deals on lending products like loans, mortgages, and credit cards.

This partnership will help Dwello tenants eventually become owners. By integrating with 8Twelve proprietary INFIN8 platform, Dwello customers are notified when they qualify for an 8Twelve mortgage. INFIN8 uses real-time analytics, AI and workflow automation to identify the best possible mortgage on Canada’s largest marketplace for bank, alternative and personal mortgage products. 8Twelve also has access to other products such as co-equity down payment programs to further facilitate home ownership.

“Tenant reporting to the office has been successful in helping tenants improve and establish their credit profile. This has resulted in better access to preferred credit products and favorable interest rates, as well as a wider range of rental properties. This initiative has benefited hard-working Canadians who would otherwise have been disadvantaged in the system due to low credit ratings or non-existent credit profiles,” said Roy MoufawadCEO of Dwello Ltd. “Dwello’s rental reporting system is beneficial for both Canadian renters and financial institutions as it gives them insight into the rental market. Additionally, landlords have found that using this platform to collect rent not only simplifies the process, but also helps retain tenants.”

“Innovation is very rapid in the real estate and mortgage industry. Until recently…