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MPowered Mortgages opens ChatGPT function to brokers nationwide

  • 21/06/2023
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MPowered Mortgages opens ChatGPT function to brokers nationwide
Mpowered Mortgages has rolled out its chatbot, CriteriaGPT, to all of its broker partners nationwide.

This is the Beta version of the technology and follows an internal trial among its sales and underwriter teams last month. 

The chatbot uses ChatGPT technology to answer criteria queries and can respond in a human-like manner. 

The lender said this will remove the need for human intervention while still providing brokers with quick and accurate answers. 

Brokers can apply to be part of the lender’s testing programme by registering their interest online or getting in touch with their local business development manager (BDM). Feedback from the testing will help to improve and develop the technology ahead of a whole of market rollout. 

The testing is expected to conclude in July, with a full product deployment in Q3. 

Stuart Cheetham (pictured), CEO of MPowered Mortgages, said: “At MPowered Mortgages, we are constantly looking at ways we can both improve the broker journey and the time it takes to get a mortgage offer, using AI driven technology.  

“One of the main reasons for a broker contacting a lender is to get a detailed understanding of lending criteria. So, I’m delighted to announce this development which is aimed at making brokers’ lives easier.” 

He added: “ChatGPT is the latest innovation in chatbot technology, and perfectly augments our own in-house proprietary AI which is live in the market. We’re delighted to be working with brokers to test how we can integrate this into our lending enquiries process, with the aim of delivering an enhanced tool to all brokers very soon. 

“AI is already driving innovation in the mortgage market, and we know few have the capability to drive this forward like MPowered.” 

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