You are here: Home - News -

MPowered Mortgages’ ChatGPT tool resolves third of broker queries

  • 16/08/2023
  • 0
MPowered Mortgages’ ChatGPT tool resolves third of broker queries
Fintech mortgage lender MPowered Mortgages’ ChatGPT-backed chatbot tool allowed a third of all broker queries to be resolved with a full rollout of the tool now underway.

The lender opened CriteriaGPT to all broker partner nationwide in July, following an internal trial among its sales and underwriter teams last month.

The tool uses ChatGPT to answer complex queries around the lender’s residential lending criteria. Brokers can receive answers to “varied and complex lending enquiries quickly and accurately, without the need for human intervention”.

Brokers can access CriteriaGPT tool through its website and the broker support team is still available for queries.

The lender said that since launching it prime residential range to brokers nationwide earlier this year, inbound broker enquiries have grown significantly, with the internal broker team receiving 10,000 live chat requests by August.

It added that it expected over 60 per cent of all broker queries to be solved by the end of the year.


ChatGPT ‘unanimously positive’

Emma Hollingworth (pictured), managing director for mortgages at MPowered Mortgages, said: “We are delighted that the feedback on our ChatGPT-powered chatbot tool has been unanimously positive. It is one of the many steps we are taking to improve the service we offer brokers, using the power of technology to remove the hassle out of the mortgage process by getting instant responses to urgent questions.

“In addition to this, delivering a smooth mortgage journey for borrowers underpins everything that we do here at MPowered, which is more important now than it has ever been in the current fast-changing and uncertain market conditions.

“We will continue to use technology to both improve the service we offer brokers and the mortgage journey for borrowers, as we believe there is so much more to be done to bring mortgages into the 21st century.”

Stelios Constantinidis, head of research at MPowered Mortgages, added: “After extensive development and testing, CriteriaGPT is now enabling brokers to get clear and instant answers to their questions about MPowered’s lending criteria, all in plain English.

“We are excited to be one of the first companies using the groundbreaking advances in AI to deliver great user outcomes to brokers.”

There are 0 Comment(s)

You may also be interested in