New AI-powered tool offers brokers instant answers to lending criteria queries
Fintech lender MPowered Mortgages has unveiled a voice-activated digital assistant designed to provide brokers with real-time answers to lending criteria questions.
The tool enables brokers to call a dedicated phone line and ask questions, receiving instant responses without the need to speak with a human agent. The system operates similarly to voice assistants like Alexa or Siri, streamlining brokers’ access to key information.
MPowered Mortgages has invited brokers from its network to participate in a soft launch of the technology. Feedback from this trial phase will be used to fine-tune the system before it is made available to the wider market. Brokers interested in joining the soft launch can register online.
“Our highly experienced team of AI engineers are constantly finding ways that they can use AI to improve brokers’ experience with us, and this is the latest of our innovations,” said Stuart Cheetham (pictured), chief executive of MPowered Mortgages. “Brokers can now simply pick up the phone, dial the dedicated number, and receive instant support on MPowered’s residential lending criteria. It’s like having a lending expert on speed dial.”
Brokers have welcomed the development, including Natalie Anderson, a mortgage and protection adviser at Connect Mortgages, who noted the tool’s potential benefits for brokers working outside traditional office hours.
“Let's call a spade a spade, AI is the buzzword at the moment,” Anderson stated. “With that being said, I believe this concept could be adopted by all lenders.
“In theory, it would enable brokers to receive answers at any time, day or night. Even during office hours, brokers would gain from receiving instant responses instead of waiting for staff or leaving messages for callbacks. This could also reduce pressure on staff while improving broker satisfaction. However, many brokers might worry if adopting this system were to lead to job losses for staff members.”
The voice-enabled assistant is the latest addition to MPowered’s suite of AI-powered solutions. Developed by mortgage technology company MQube, the parent company of MPowered Mortgages, the assistant builds on MQube’s existing AI tools, including Criteria Genius, a chatbot designed to answer complex lending criteria questions.
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