MortgagX launches 'AI employees' for mortgage brokers

Financial technology firm, MortgagX, has announced the launch of "AI employees" for mortgage brokers.

The new AI solution aims to target challenges and pain points that brokers face daily. It is tailored to meet the specific needs of mortgage brokers and integrate into existing mortgage workflows, from handling initial client consultations to finalising loan applications.

This includes key processes such as fact-finding, product sourcing, document management, and compliance checks. 

In essence, the solution is designed to play a supporting role in the day-to-day activities of mortgage brokers by taking manual processes, compliance concerns and paperwork out of the equation.

Some of the core features that brokers will benefit from when using the platform include automated fact-finding, bank statement and credit file analysis, real-time client updates, compliance checks, integrations with major systems like HMRC, Companies House, and property portals, and an AI mortgage assistant that can answer client queries in real-time.

The technology aims to reduce the time spent per case by up to eight hours, alongside reducing errors and cutting costs.

In comparison to a traditional AI solution, MortgagX says its latest offering is "more comparable to an actual assistant, rather than a piece of software".