PineappleONE Adoption Boosts Broker Efficiency, Leading to a 22.72% Increase in Loan Origination to $377 Million
Pineapple Financial Inc. (NYSE American: PAPL) reported significant success with its PineappleONE platform, designed to streamline mortgage processing. Key findings include:
- 32% reduction in deal processing time
- 22.72% growth in mortgage loan volumes, reaching $377.64 million in Q3 fiscal 2024
- 20.43% increase in revenue, totaling $736,448 in Q3 fiscal 2024
Brokers fully adopting PineappleONE saw individual loan volumes increase by an average of 28%, with some top performers reporting a 37.5% reduction in time spent per transaction. The company plans to introduce AI-driven tools to further optimize lead management and client retention.
Pineapple Financial Inc. (NYSE American: PAPL) ha riportato un successo significativo con la sua piattaforma PineappleONE, progettata per semplificare il processo di trattamento dei mutui. Le principali scoperte includono:
- Riduzione del 32% nel tempo di elaborazione delle operazioni
- Crescita del 22,72% dei volumi di prestiti ipotecari, raggiungendo 377,64 milioni di dollari nel terzo trimestre dell'anno fiscale 2024
- Aumento del 20,43% delle entrate, per un totale di 736.448 dollari nel terzo trimestre dell'anno fiscale 2024
I broker che hanno adottato completamente PineappleONE hanno visto aumentare i volumi di prestiti individuali di un'averaging del 28%, con alcuni top performer che riportavano una riduzione del 37,5% nel tempo speso per ogni transazione. L'azienda prevede di introdurre strumenti alimentati dall'IA per ottimizzare ulteriormente la gestione dei contatti e la fidelizzazione dei clienti.
Pineapple Financial Inc. (NYSE American: PAPL) reportó un éxito significativo con su plataforma PineappleONE, diseñada para agilizar el procesamiento de hipotecas. Los hallazgos clave incluyen:
- Reducción del 32% en el tiempo de procesamiento de operaciones
- Crecimiento del 22,72% en los volúmenes de préstamos hipotecarios, alcanzando 377.64 millones de dólares en el tercer trimestre del año fiscal 2024
- Aumento del 20,43% en los ingresos, totalizando 736,448 dólares en el tercer trimestre del año fiscal 2024
Los corredores que adoptaron completamente PineappleONE vieron aumentar los volúmenes de préstamos individuales en un promedio del 28%, con algunos de los mejores desempeños reportando una reducción del 37,5% en el tiempo gastado por transacción. La empresa planea introducir herramientas impulsadas por IA para optimizar aún más la gestión de leads y la retención de clientes.
파인애플 파이낸셜 주식회사(NYSE American: PAPL)는 모기지 처리를 간소화하기 위해 설계된 파인애플원 플랫폼에서 상당한 성공을 보고했습니다. 주요 발견 사항은 다음과 같습니다:
- 거래 처리 시간 32% 감소
- 모기지 대출 수량 22.72% 성장, 2024 회계연도 3분기 3억 7764만 달러 도달
- 수익 20.43% 증가, 2024 회계연도 3분기 총 736,448달러
파인애플원을 완전히 채택한 중개인은 평균 28%의 대출량 증가를 경험했으며, 일부 우수 수행자는 거래당 소요된 시간이 37.5% 단축되었다고 보고했습니다. 회사는 리드 관리와 고객 유지를 더욱 최적화하기 위해 AI 기반 도구를 도입할 계획입니다.
Pineapple Financial Inc. (NYSE American: PAPL) a rapporté un succès significatif avec sa plateforme PineappleONE, conçue pour rationaliser le traitement des hypothèques. Les principales conclusions incluent :
- Une réduction de 32 % du temps de traitement des transactions
- Une croissance de 22,72 % des volumes de prêts hypothécaires, atteignant 377,64 millions de dollars au troisième trimestre de l'exercice 2024
- Une augmentation de 20,43 % des revenus, totalisant 736.448 dollars au troisième trimestre de l'exercice 2024
Les courtiers ayant entièrement adopté PineappleONE ont constaté une augmentation moyenne de 28 % de leurs volumes de prêts individuels, certains des meilleurs performeurs rapportant une réduction de 37,5 % du temps passé par transaction. L'entreprise prévoit d'introduire des outils propulsés par l'IA pour optimiser davantage la gestion des leads et la fidélisation des clients.
Pineapple Financial Inc. (NYSE American: PAPL) berichtete über einen signifikanten Erfolg mit seiner Plattform PineappleONE, die entwickelt wurde, um den Prozess der Hypothekenbearbeitung zu optimieren. Zu den wichtigsten Ergebnissen gehören:
- Eine Reduzierung der Bearbeitungszeit um 32%
- Ein Wachstum des Hypothekenkreditvolumens um 22,72%, das 377,64 Millionen Dollar im dritten Quartal des Geschäftsjahres 2024 erreichte
- Ein Umsatzanstieg um 20,43%, insgesamt 736.448 Dollar im dritten Quartal des Geschäftsjahres 2024
Broker, die PineappleONE vollständig übernommen haben, verzeichneten einen durchschnittlichen Anstieg des einzelnen Kreditvolumens um 28%, wobei einige Top-Performer von einer Verringerung der benötigten Zeit pro Transaktion um 37,5% berichteten. Das Unternehmen plant, KI-gesteuerte Tools einzuführen, um das Lead-Management und die Kundenbindung weiter zu optimieren.
- 22.72% increase in mortgage loan volumes to $377.64 million in Q3 fiscal 2024
- 20.43% rise in revenue to $736,448 in Q3 fiscal 2024
- 32% reduction in deal processing time for brokers using PineappleONE
- 28% average increase in individual loan volumes for brokers fully adopting PineappleONE
- None.
Insights
The adoption of PineappleONE has yielded impressive results for Pineapple Financial. The 22.72% increase in mortgage loan volumes to
The 32% reduction in deal processing time is a key driver behind these improvements. This efficiency gain has allowed brokers to handle more transactions, directly impacting the bottom line. The correlation between increased efficiency and financial growth is clear, suggesting a sustainable model for future expansion.
Investors should note that while these results are promising, they represent early-stage success. The company's ability to maintain this growth trajectory and scale the platform will be important for long-term value creation.
PineappleONE's success highlights the transformative power of fintech in traditional industries. The platform's automation features, including document management and real-time updates, are driving significant efficiency gains. The 37.5% reduction in time spent per transaction for top-performing brokers is particularly impressive.
The planned introduction of AI-driven tools for lead management and client retention signals a forward-thinking approach. This continuous innovation is important in the competitive fintech landscape. However, as the company scales, it must ensure robust security measures and system reliability to maintain trust and performance.
The platform's ability to improve both broker productivity and client satisfaction creates a virtuous cycle that could lead to sustained growth. Investors should monitor the company's ability to stay ahead of technological trends and potential competitors in this space.
Pineapple Financial's success with PineappleONE reflects a broader trend in the mortgage industry towards digital transformation. The platform's ability to increase individual broker loan volumes by an average of
The increased efficiency leading to higher referral rates and repeat business is a positive indicator for long-term growth. This could result in reduced customer acquisition costs and improved lifetime value of clients, both key metrics in the fintech sector.
However, investors should consider the competitive landscape. As other fintech companies and traditional lenders adopt similar technologies, Pineapple Financial will need to maintain its innovative edge to preserve its market position. The company's future performance will likely depend on its ability to continuously enhance the platform and expand its broker network.
Toronto, Ontario--(Newsfile Corp. - August 21, 2024) - Pineapple Financial Inc. (NYSE American: PAPL), a leading Canadian fintech company, today announced early-stage success showcasing the transformative impact of its PineappleONE platform. Designed to streamline mortgage processing, PineappleONE has significantly increased broker efficiency, resulting in a substantial rise in loan volumes and revenue for the company.
Key Findings:
Pineapple Financial's internal analysis revealed that brokers utilizing PineappleONE experienced a
Additionally, the platform's automation capabilities-such as document management, automated lender submissions, and real-time client updates-enabled brokers to handle more transactions with greater accuracy. This increased efficiency led to a
Shubha Dasgupta, co-founder and CEO of Pineapple Financial, commented on the platform's impact, stating, "PineappleONE has proven to be a game-changer for our brokers. By automating key aspects of the mortgage process, we've not only reduced the time brokers spend on administrative tasks but also improved their ability to close deals faster. This early data clearly demonstrates the direct correlation between increased efficiency and our impressive loan volume and revenue growth."
Efficiency Drives Revenue:
The findings further highlighted that brokers who fully adopted PineappleONE's features saw their individual loan volumes increase by an average of
As a result, Pineapple Financial has not only grown its mortgage originations but also strengthened its market position by enhancing broker productivity and client outcomes. The success of PineappleONE has set a new standard in the mortgage industry, showcasing the potential of technology to drive both operational efficiency and financial performance.
Continued Innovation:
Building on this success, Pineapple Financial is committed to further enhancing PineappleONE with additional features aimed at increasing automation and broker support. The company plans to introduce AI-driven tools to optimize lead management and client retention, further empowering brokers to maximize their productivity and revenue potential.
"We are just beginning to tap into the full potential of PineappleONE," added co-founder and COO, Kendall Marin. "As we continue to innovate and expand the platform's capabilities, we expect even greater efficiencies and financial gains for our brokers and our company."
About Pineapple Financial Inc.
Pineapple Financial Inc. is an award-winning fintech and leading Canadian mortgage brokerage network, focusing on both the long-term success of agents and brokerages, as well as the overall experience of homeowners. With approximately 700 brokers within the network, Pineapple creates cutting-edge cloud-based tools and AI-driven systems to enable its brokers to help Canadians realize their dream of owning a home. Pineapple is active within the community and is proud to sponsor charities across Canada to improve the lives of fellow Canadians.
Forward-Looking Statements
Certain statements in this announcement are forward-looking statements, including, but not limited to, the Company's proposed Offering. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs, including the expectation that the Offering will be successfully completed. Investors can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "is/are likely to," "potential," "continue" or other similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations that arise after the date hereof, except as may be required by law. These statements are subject to uncertainties and risks including, but not limited to, the uncertainties related to market conditions and the completion of the initial public offering on the anticipated terms or at all, and other factors discussed in the "Risk Factors" section of the registration statement filed with the SEC. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's registration statement and other filings with the SEC. Additional factors are discussed in the Company's filings with the SEC, which are available for review at www.sec.gov.
Follow us on social media:
Instagram: @pineapplemortgage @empoweredbypineapple
Facebook: Pineapple Mortgage
LinkedIn: Pineapple Mortgage
Related Links:
https://gopineapple.com
http://empoweredbypineapple.com
Media Contact:
For media inquiries, please contact Alexandria Guo, Marketing Manager at Pineapple
Email: alexandria@gopineapple.com
Investor Relations Contact:
For investor relations inquiries, please contact Shubha Dasgupta, Chief Executive Officer, at Pineapple
Email: shubha@gopineapple.com
Phone: +1 (416) 669-2046
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/220622
FAQ
What was Pineapple Financial's (PAPL) mortgage loan volume in Q3 fiscal 2024?
How much did Pineapple Financial's (PAPL) revenue increase in Q3 fiscal 2024?
What efficiency improvements did PineappleONE platform bring to brokers?
What future enhancements are planned for Pineapple Financial's (PAPL) PineappleONE platform?
