Get To Know Our CEO & Co-Founder Amin Eskooch!
Amin Has Been Working Tirelessly to Drive WiiBid's Success and Make His Vision Become Reality
WiiBid CEO & Co-Founder
We sat down with our CEO and Co-Founder Amin Escooch, to ask him about everything, from how he came up with the idea for WiiBid, to how the team have been working during the pandemic, and what his plans for the company are moving forward.
For Starters, Could You Tell Us About Yourself and Your Work?
After receiving my Bachelor’s and Master’s degree in electrical engineering, I started my career in IT at IBM. My experience working in the corporate world and in the Financial services sector, gave me an incredible amount of insight about how the industry works. My fascination with real estate and finance prompted me to start my own Real Estate investment management and private equity firm in 2015. It was during this time that I started to think about the lack of solutions addressing the difficulty of mortgage origination. Much like any other industry, to truly be an agent of change and disrupt, you would have to be from the industry to see opportunities for innovation.
How Did You Come up With the Idea for WiiBid?
Working in the Real Estate financing industry, I immediately began to see where technology could bring change and innovation to help consumers. I wanted to remove some of the obstacles that stand in the way of modernizing how things are done in the mortgage sector today.
Through my years of engineering school, one of the most important skills I learned was to automatically look for gaps in processes and how technology could bridge that gap.
In order to eliminate some of the inefficiencies and cost for my own business, I decided to get licensed as a mortgage broker. During my studies for the licensing exam, I saw that the current mortgage origination system is really not designed to be helpful to consumers, and skews heavily towards industry professionals.
That's why I created WiiBid! It connects technology and finance, with a focus on the mortgage business. WiiBid dares to reimagine the traditional model, shake up the industry, and reorganize it in a more efficient way, both from a time, and cost perspective.
By automating several steps in the process mortgage application process, WiiBid saves both time and money, whilst putting the borrower in full control of their mortgage.
If You Could Describe WiiBid in Just Three Words, What Would You Say?
Best, Fastest, and Data Security. WiiBid helps consumers find the “Best” rates, in the “Fastest” way possible, and with unrivaled “Data Security”.
Who Would Be the Ideal Candidate for Your Platform?
Anyone looking for a mortgage should consider using WiiBid. We believe, that lenders should be seeking out opportunities to lend to consumers and not the other way around. So whether consumers are looking for a bank loan, or alternative mortgage financing, they save time, energy and money by using WiiBid!
That being said, our platform is also an amazing tool for Brokers who are looking to eliminate paperwork and optimize deal flow.
Since You Launched the Platform in the Midst of the the COVID-19 Pandemic, How Have You and Your Team Been Navigating Work? Any Challenges? Any Benefits?
The pandemic has been difficult for everyone, despite this, it has also fueled innovation and acted as an agent of change. In the wake of Covid, we have seen many industries, including the Real Estate and mortgage industries, change rapidly. Some of these changes, though having been discussed for many years without action, were suddenly put in place overnight. This rapid pace has been quite phenomenal and for a disruptor like WiiBid, the behavioral changes have actually been a driving force.
Getting a mortgage online pre-pandemic was perhaps a bit of a barrier for some; we find that that is precisely what consumers are looking for now. We have been able to focus intensely on building the platform with fewer distractions from normal life, and tried to view this as an opportunity to launch and grow WiiBid.
As Auctioned Technology Is a Huge Element of Innovation Within WiiBid, What Exactly Does This Mean and Why Did You Implement This Method?
Auction theory has really grown in the past few years and so much so, that it has become an integral part of any economic discussion. The best way to discover the lowest possible cost of any product or service is to allow healthy competition between the providers of those goods and services.
WiiBid puts the consumers in charge by letting the lenders outbid each other, to offer the lowest and best rates possible.
Since WiiBid Is Such a New Platform, How Does It Feel to Be a Part of Such an Innovative Space, and to Be Creating a Technology That Is Disrupting the Mortgage Industry?
It is gratifying to see my vision becoming reality. Of course the most satisfying part of the whole experience is reading client testimonials and feedback from happy homeowners, who saved thousands, even tens of thousands or more on their mortgage.
That is the amount of savings that could help kids through school, help pay for a loved one’s medical bill, or help plan a more comfortable retirement. Meaningful impact on people’s lives gives us drive and motivation to continue on this mission.
What Should We Expect Next From WiiBid for the Rest of 2021?
Lot of excitement! We have just agreed to a partnership with Equifax which is big milestone and the seal of approval from the industry! We are bringing on larger lenders all the time, making competition more fierce, which lowers rates further, and are expanding to offer our services in Ontario.
We are also planning to start collaborating with the University of British Columbia, to work on exciting research around auction theory, as well as artificial intelligence, in order to further improve the platform; WiiBid is committed to making a lasting difference! The world is changing and the way we get mortgages should change as well.
Lots more to come. So stay tuned!
Now That You Learned More About Amin and His Future Vision for WiiBid, Why Not Submit an Application?
WiiBid is an innovative fintech company that offers a digital marketplace to borrowers with fast access to the best alternative financing deals possible.
Phone : 1-888-BID-0828
701 West Georgia, Suite 1500,
Vancouver, BC V7Y 1C6, Canada