Newrez advances AI initiatives

Company taps Microsoft for improvements

Newrez advances AI initiatives

Newrez has joined forces with Microsoft to leverage artificial intelligence (AI) to enhance customer engagement, streamline operations, and analyze real-time feedback.

The partnership, which began in late 2023, includes generative and predictive AI initiatives for customer engagement, operational efficiencies, and real-time customer feedback analysis, according to Newrez.

Newrez chief information officer Kedar Sathe commented on the potential of AI in reshaping their customer service approach and operational framework.

AI will help us reimagine how we serve our customers and run our business,” Sathe said in a media release. “We have access to a tremendous amount of data regarding customer behavior, products, and markets – we have only begun to scratch the surface on the applications of this technology to fundamentally change the mortgage customer journey.”

Through the tie-up, Newrez will have access to Microsoft Azure OpenAI Service, be able to analyze customer data, personalize recommendations, provide 24/7 customer support through AI-powered chatbots and virtual assistants, and even spot potential issues before they become big problems.

Read more: Seasoned broker now embracing artificial intelligence

“The projects in this initiative empower our customers to engage us at any time and place while allowing Newrez to operate more effectively and efficiently,” Sathe added.

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