Royal Bank of Canada is expanding its digital mortgage capabilities with the acquisition of Toronto-based fintech Pinch Financial.
Pinch has built an online mortgage qualification platform that verifies borrower information digitally, helping Canadians streamline applications and connect with lenders faster. The technology is designed to modernize one of banking’s most paperwork-heavy processes, making mortgages more accessible to digital-first consumers.
Janet Boyle, Senior Vice President of Home Equity Financing at RBC, said the deal strengthens the bank’s ability to support clients on their path to home ownership while advancing its digital roadmap.
“Pinch’s technology will help us accelerate our digital roadmap to deliver a quicker, more streamlined mortgage experience for Canadians,” Boyle said.
Founded to simplify the mortgage journey, Pinch focused on making qualification faster, more transparent, and easier to navigate online.
“This acquisition gives us the opportunity to bring our technology to more Canadians while being part of a team that shares our vision for innovation in financial services,” said Andrew Wells, CEO of Pinch Financial.
The move reinforces RBC’s strategy of using emerging technologies to deliver more personalized and efficient financial services, as competition intensifies across Canada’s digital lending market.
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