Nivo relaunches website with AI tools for brokers

Nivo has relaunched its website to give mortgage brokers more information on the costs and potential time savings of using AI to gather and check client documents.

The site includes full pricing for its Nivo Collect service, a sample checked evidence pack and case analysis, as well as a comparison with document checking tools.

Nivo Collect provides brokerages with an AI assistant that operates over email and is designed to handle the collection and checking of evidence required for mortgage applications.

Brokers email a case to the service, which identifies the required evidence before collecting documents, identity evidence and searches from applicants and chasing outstanding information.

The service then checks the information supplied against applicants' declarations and produces an evidence pack for submission. An accompanying report covers submission readiness, affordability based on the evidence provided and any issues requiring the broker's attention.

Nivo said the service does not provide advice or make credit decisions, with these remaining the responsibility of the adviser and lender.

Pricing starts from £1,000 a month, with the allowance covering the AI service, identity checks and other features. Nivo said there are no setup fees, per user licence charges or minimum terms.

According to the firm, a typical mortgage case uses between £10 and £40 of the monthly allowance.

Nivo also cited its own research based on more than 100 surveys with UK brokers and lenders, which estimated that administration takes around five hours per case at a cost of approximately £150.

The website also provides information on how client data is handled. Nivo said messages, files, checks and AI actions are recorded in an audit trail that cannot be altered, while client data is not used to train the underlying AI models.

George Lee, marketing lead at Nivo, said: "Brokers are being asked to sit through a lot of demos at the moment, and it’s hard to tell one claim from another. We wanted to make it easier for them to assess Collect, so we’ve put everything on the website: the price, a full sample of what they receive and an honest comparison with the tools we’re measured against.

"They can see what the service does, what it costs and how it could fit into their business. Getting started is just as straightforward. Collect works over email, with nothing to install and no integration project, so brokerages can be live the same day.

"We’re also clear about what Collect does and where human judgement comes in. It produces a checked evidence pack and an analysis, but it does not give advice or make credit decisions. The adviser makes the call, and the client relationship stays with the brokerage."