Royal Bank of Canada has acquired Toronto-based digital mortgage qualification technology provider Pinch Financial. Terms were not disclosed.

Pinch operates a platform that verifies borrower information online to help qualify Canadians for a mortgage and submit applications to lenders.

Founded in 2016, the firm claims to have helped tens of thousands of Canadians apply for mortgages and purchase homes since inception.

Janet Boyle, SVP, home equity financing, RBC, says: “Pinch’s technology will help us accelerate our digital roadmap to deliver a quicker, more streamlined mortgage experience for Canadians.”