FundMore Launches Freemium Platform to Bring Bank-Grade Compliance to Canada’s Non-Bank Lenders as OSFI Raises Red Flag

FundMore today announced the launch of a new product, a free underwriting, CRM, and compliance platform for private lenders, MICs, among others.

OTTAWA, ONTARIO, CANADA, May 12, 2026 /EINPresswire.com/ -- Days following Canada’s banking regulator naming non-bank financial institutions the second-highest threat to the country’s financial system, FundMore, the AI-first loan origination platform behind some of Canada’s most sophisticated lenders, today announced the upcoming launch of a new freemium product, code named Fathom, a free underwriting, CRM, and compliance platform purpose-built for the private lenders, MICs, and alternative mortgage originators who are now under more regulatory scrutiny. Public beta opens summer 2026. A waitlist is live today at https://blog.fundmore.ai/fathom.

The problem FundMore is solving is significant, it's a $401B blind spot. In its 2026–2027 Annual Risk Outlook, released on April 14, the Office of the Superintendent of Financial Institutions (OSFI) flagged non-bank financial institution (NBFI) risk as the second-largest threat to Canada’s financial system, behind only real estate-secured lending. The regulator warned that the “opaque nature” of private capital markets can mask structural weaknesses and that highly leveraged exposures could intensify losses in a stress event.

The numbers explain the concern. Non-bank residential mortgage debt in Canada has grown to more than $401 billion, a 19% jump since 2020. Provincial regulators are tracking the same trend. In Ontario alone, the Financial Services Regulatory Authority of Ontario (FSRA) counts 65,233 private mortgages worth $32 billion, with delinquency rates running roughly 11 times higher than the headline bank figure. Over 50% of Canadian mortgages will renew between January 2026 and the end of 2027, and OSFI expects that wave to push more borrowers into the alternative channel.

OSFI is also drafting a new Credit Risk Management Guideline to tighten how lenders manage credit risk, with industry consultation open through July 29, 2026. For non-bank lenders that have historically operated on spreadsheets, email, and cobbled-together point solutions, the compliance bar is about to rise considerably.

FundMore Fathom brings the same underwriting, compliance, KYC, AML, and fraud detection infrastructure currently powering Canada’s leading financial institutions to the non-bank lending tier, with no upfront cost to anyone lending privately.

The platform includes:

1. AI-powered underwriting for file Q&A, risk assessment, scenario analysis, compliance checks, and pricing.
2. KYC and identity verification through integrated partners, meeting FINTRAC obligations out of the box.
3. Document gathering, classification, fraud detection, and OCR through AWS based enterprise-grade AI driven infrastructure.
4. Property valuation, title search, and compliance insurance delivered through FundMore’s partner network.
5. End-to-end Customer engagement and marketing automation from initial discussion through signing.

FundMore’s mission with Fathom is deliberate: get compliance-forward infrastructure into the hands of every non-bank lender in Canada before the regulatory floor rises, not after.

“OSFI just told the country that opacity in non-bank lending is a systemic risk, and they’re right,” said Chris Grimes, CEO of FundMore. “The problem isn’t that private lenders are reckless. The problem is that the infrastructure that keeps bank-tier lenders compliant, auditable, and fraud-resistant has been priced out of reach for everyone else. We’ve spent five years building that infrastructure for institutions that have processed more than $60 billion in mortgage applications on our platform. Fathom puts the same robust compliant stack in the hands of every Canadian individual or lending corporation.”

“If OSFI’s new Credit Risk Management Guideline lands the way we expect it to, every non-bank lender in this country is going to need documented underwriting rigor, traceable decisioning, and proper KYC by next year. We’d rather give the industry a head start than watch lenders scramble to retrofit compliance under a deadline.”

FundMore Fathom runs on the same platform that currently consolidates legacy underwriting systems, doubles underwriting capacity, and delivers 70% efficiency gains at Canada’s leading financial institutions. The platform holds SOC 2 Type 2 certification (since 2021), NIST 800 compliant, and is pursuing an ISO 42001 AI certification. That track record matters because the alternative lending sector has historically lacked the technology budgets of federally regulated institutions. Fathom closes that gap. Originators get institutional-grade tooling without institutional-grade implementation cycles or price tags.

Key dates
- May 12, 2026: Waitlist opens at fundmore.ai
- Summer 2026: Public beta opens to waitlist members
- July 29, 2026: OSFI Credit Risk Management Guideline consultation closes

About FundMore
FundMore is a cloud-native, AI-first loan origination platform serving Canada’s leading mortgage lenders. Customers include EQ Bank, Meridian Credit Union, and Highclere, among other leading Canadian lending institutions. The platform has processed more than $60 billion in mortgage applications. FundMore is headquartered in Ottawa with a growing presence in the United States.

Brad Cartier
FundMore
+1 613-552-4712
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