The AI assistant, Criteria Genius, allows internal teams to query lending policies in plain language and receive instant, accurate responses. This eliminates the need to manually search through multiple documents.
The tool uses large language models (LLMs) to automate around 90% of criteria-related enquiries and has been used by mortgage lender MPowered Mortgages, which is connected to MQube, for around two years in a broker-facing capacity.
It is now gaining traction in the wider lending industry as lenders look to boost efficiency and improve the broker and customer experience.
The building society said that since Barry Carter’s appointment as CEO in 2024, it has “accelerated its adoption of technology”.
Carter said: “We’re proud to be partnering with MQube and excited by the potential of Criteria Genius to bring real benefits to both the society and our members. As a forward-thinking building society, we’re committed to adopting innovative technologies that enhance our customer experience while driving greater operational efficiency.”
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Stuart Cheetham, CEO of MQube, added: “We are thrilled that Hinckley & Rugby Building Society has chosen to adopt Criteria Genius and excited to be supporting them in creating efficiencies for their internal staff and processes.
“Financial technology is evolving rapidly and has a huge role to play in shaping the mortgage industry and transforming the broker and customer experience. It’s encouraging to see lenders such [as] Hinckley & Rugby embracing AI and technology in this way and we are excited to be on this journey with them.”
