We are fintech disrupters
"Our core mission is simply to improve people’s lives in retirement. This requires the development of ethical and low risk mortgage products to better meet the financial needs of retirees – most of whom are asset-rich and cash-poor.”
Why Futureproof?
For most retirees, their homes are their most substantial asset. Yet the only way to access this capital is either through selling their home or taking out a reverse mortgage – both of which do deplete property wealth.
Futureproof was established by insurance, banking, and financial services experts who wanted to develop a next-generation mortgage-based financial instrument that could better support the aging population throughout retirement.
Futureproof Financial Group Limited is an unlisted public company with principal offices in Hong Kong, a product team based in Sydney, a licensing and corporate team in Channel Islands and a commercial and insurance team in London.
Futureproof is a portfolio company of IMS Digital Ventures, a leading VC and SaaS venture builder, focused on global scaling of tech-led businesses.
"Futureproof is focused on developing new smart mortgages that are fit-for-purpose to better meet the retirement and aged care funding needs of customers. As a fintech disrupter of the US$20Bn a year equity release industry, we aim to dispatch traditional equity release products, notably reverse mortgages, to the waste bin of bad ideas...forever!"
Platform technology as an enabler
Our impact
For Pre-retirees
In preparation for a better retirement, pre-retirees can use the tax-free income derived from their home capital to fund voluntary contributions to superannuation or pension plans and to fund embedded products offered by the lending institution on our SaaS product platform (such as deferred annuities and insurance bonds) without using after-tax savings and with no impact on the customer’s personal cashflow.For Retirees
Due to increased economic uncertainty, financial pressures and increasing user-pay models of healthcare, retirement and aged care, retirees now need a reliable source of long-term income. With Futureproof, asset-rich retirees now have a new funding option to secure a fixed term annuity while preserving their home equity, giving them tax-free income for an active retirement, fund essential products and services whilst aging-in-the-home or pay care fees of residential aged care, yet pass all home wealth down to their family.For Governments
Governments across the world are struggling to implement effective retirement and aged care funding policies. There are few policy options other than means-tested universal levies, forcing retirees into reverse mortgages to meet funding shortfalls or US style user-pay models. Home capital is the only untapped asset class of sufficient size and depth to address the growing retirement funding gap by introducing a new source of capital, without worsening inter-generational unfairness.For Partners
The Equity Preservation Mortgage® can responsibly monetise home equity to provide long-term income and drive substantial new capital inflows into capital markets through mortgage lending, asset management, and RMBS securitisation.
Partners can embed their existing banking, insurance and financial products (such as deferred annuities, wellness products, in-home care service packages, health insurance, long-term care insurance and aged care) on our SaaS product platform to bundle, fund and cross-sell with the Equity Preservation Mortgage®.
What the Equity Preservation Mortgage® aims to achieve
Traditional equity release mortgage products like reverse mortgages are capital intensive, carry high risks and costs for lenders under standards like Basel II and III and Solvency II, as well as having many disadvantages for borrowers leaving them without sufficient assets to fund later needs in retirement.
Supported by a new Parametric Insurance protecting the lender from credit risk and without borrower serviceability risk on each mortgage, the funding profile of the Equity Preservation Mortgage® is uniquely different from riskier traditional equity release mortgage products. For lenders, this makes off balance-sheet mortgage funding, forward flow funding of mortgage books and RMBS securitisation of Equity Preservation Mortgages® lower risk, simpler to structure, less expensive and more attractive to funders and investors in the capital markets.
Our new mortgages will create an entirely new asset class of sufficient size and depth while keeping the home equity entirely intact for the owner.
This will significantly impact fiscal policy and government spending by opening up a new source of capital to fund retirement and aged care without worsening inter-generational unfairness. As the dependency ratio of taxpayers to retirees further declines, there will be increased fiscal pressure to find better solutions for retirement and aged care funding.
Awards and partnerships
Our product innovation and financial technology has been recognised by FinTech communities and accelerators across the globe.
Approved Business Intermediary
Futureproof is in global B2B collaboration with the world’s largest innovation thought-leadership, professional services and technology group, Accenture – a trusted partner of hundreds of financial institutions world-wide.
Futureproof is one of only 20 global fintechs selected by Jones Day for FinAccelerate in Silicon Valley and the only non-US fintech to ever be selected for this prestigious program. 