Digital lending approval platform Tic:Toc says delays in lending approvals can be traced back to failed approaches to technology as its new chairman reflects on the misplaced confidence of incumbent banks from just a few years ago.

The appointment of ASX director Yasmin Allen as chairman will stoke expectations that an initial public offer for the fintech is in the wings as the platform closes in on $2.5 billion in settled home loans from a standing start in 2017.