How Benjamin Schieken Built Fincast to Level the Playing Field for Home Loan Borrowers
In this episode, Benjamin Schieken, founder and CEO of Fincast, explains how his company is changing the mortgage shopping process through AI and competitive lending technology. He shares how traditional loan shopping creates friction for borrowers and limits visibility across lenders, often leading consumers to overpay on one of the largest financial decisions of their lives. Benjamin discusses how Fincast helps borrowers compare real mortgage offers without spam calls or repeated applications, while also creating better access for smaller lenders that struggle to compete with large institutions. The conversation also covers Benjamin’s journey from SaaS founder to fintech entrepreneur, lessons learned from failed ventures, the importance of trust in fintech branding, and his long-term vision to bring offline financial shopping behaviors into a transparent digital marketplace.
Takeaways
* Fincast is an AI-powered mortgage shopping platform designed to help borrowers find better loan offers.
* The platform starts with a borrower’s existing loan estimate rather than requiring multiple new applications.
* Mortgage loan estimates became standardized by the CFPB in 2016 to support easier comparison shopping.
* Traditional mortgage shopping is time-consuming, while comparison websites often overwhelm users with calls and emails.
* Fincast anonymizes and shops mortgage offers across a lender network to reduce friction and protect borrower privacy.
* According to Benjamin, 73% of borrowers who use Fincast find a better mortgage deal.
* Smaller lenders often offer strong pricing and service but struggle to compete with the marketing budgets of large lenders.
* Benjamin’s motivation for building Fincast came from a desire to create technology that positively impacts consumers directly.
* The company plans to expand beyond mortgages into other financial products such as auto loans and SBA loans.
* Trust, education, and transparency are central to the company’s branding and long-term growth strategy.
Today's guest, Benjamin Schieken, can be found at:
Website: https://www.gofincast.com/
LinkedIn: https://www.linkedin.com/in/benjamin-schieken/
Your host, Scott Turman, can be found online at:
Website: https://scottturman.com/, https://brightray.com/
LinkedIn: https://www.linkedin.com/in/scottturman/
IMDb: https://www.imdb.com/name/nm14602682/
Keywords
mortgage loans, mortgage shopping, fintech, AI lending, loan estimates, CFPB, consumer finance, refinancing, home buying, lenders, mortgage marketplace, loan comparison, interest rates, borrower savings, financial technology, loan origination, mortgage rates, lending ecosystem, mortgage refinancing, SaaS, startup growth, fintech branding, mortgage automation, competitive lending, mortgage transparency, lending intelligence, home financing, digital marketplace, consumer lending, financial products, mortgage offers, loan shopping, mortgage technology, borrower privacy, financial transparency, mortgage innovation, fintech startup, lending platform, real estate finance, personal finance