Tim Boyle / Getty Images Moneysupermarket is launching a new 50-50 joint venture, Podium, that aims to digitise the mortgage application process. It comes amid a wave of investment into startups looking to digitise mortgages in Britain. Moneysupermarket's MD of Money said: "Why we think we can succeed is we have scale and search traffic." LONDON — UK financial comparison website Moneysupermarket is launching a new joint venture aimed at digitising the mortgage market, which is still a largely phone and paper-based market in Britain. Moneysupermarket, which is listed on the London Stock Exchange's FTSE 250 index and has a market cap of £1.6 billion, announced on Thursday that it is setting up a 50-50 joint venture with two entrepreneurs who built key comparison engines for credit cards and loans that are used by Moneysupermarket.See the rest of the story at Business InsiderNOW WATCH: Expanding Warren Buffett’s value investing approach to the socially responsible sectorSee Also:The crypto boom has faded but this charting company is still basking in its glowGet ready for a boom in crypto sports sponsorship: 'We're in discussions with over 70% of the Premier League'Steve Cohen has reportedly backed a crypto hedge fundSEE ALSO: The UK's biggest estate agent is working with Google's former UK MD to build an online mortgage broker DON'T MISS: Over £45 million has gone into 'PropTech' in the last week alone as Habito and Yopa raise cash SEE ALSO: Goldman Sachs has invested in a UK startup that tells you when to switch mortgages