Futureproof is currently identifying a select group of financial institutions as Product Issuers for its initial markets of United Kingdom and Australia ahead of market launch in 2022, to be followed later by other key markets in Asia, USA, Canada and Europe.
Initial partners, who are eligible to hold reserved D Class non-voting shares of Futureproof, may enjoy preferential terms including first-to-market advantage secured by a period of licensed exclusivity.
Financial Institutions are generally market-specific, however key global partnerships are also being separately entered into for the provision of technology, reinsurance, wholesale mortgage funding, mortgage warehousing and securitization services.
Futureproof is not a retailer of mortgages or financial products as a product issuer.
Being proprietary intellectual property, the Equity Preservation Mortgage™ and our 1st Generation Futureproof products are made available under license only to regulated financial institutions:
- retail banks
- neo-banks & digital challengers
- life insurers
- credit unions
- friendly societies
- wealth managers
Partner financial institutions may write an unlimited number of Equity Preservation Mortgages™ on their balance sheet and brand Futureproof financial products.
The supporting Mortgage Insurance program is operated by Futureproof’s related entity.
Mortgage insurance may only be offered through this program.
Mortgage insurance risk may only be underwritten by our accredited partners being:
- program manager
- mortgage insurers
- international reinsurers
Licensed partners can take Equity Preservation Mortgages™ off-balance sheet through a related entity of Futureproof that operates a supporting RMBS program, using:
- mortgage warehousing
- securitization SPV
The wholesale mortgage funding program is managed by our accredited partners, being
- program manager
- local investment banks
- global investment banks
The Product Plug-in through which the Futureproof products are sold and written is a platform-enabled business operated, managed and supported by Futureproof’s professional services & technology services global partners, for:
- cloud hosting (Tier 1)
- software development & support
- platform integration
- strategic consulting & business transformation
Enterprise application providers
Futureproof’s technology platform is not an end-to-end mortgage processing platform but a Product Plug-in. It is operated as a PaaS and provided to financial institutions under a per-mortgage subscription licence.
This simpler architecture enables a product plug-in to open-banking and open-insurance systems or link to existing technology stacks via secure API’s, including:
- core banking platforms
- core insurance platforms
- wealth management platforms
- mortgage processing platforms