MAB says that applying AI at the beginning of the sales process will reduce potential delays and enable advisers to offer an enhanced service to their clients
Mortgage Advice Bureau (MAB) has added new MQube lender, MPowered Mortgages, to its panel.
The partnership will also see the two firms using technology to embed Artificial Intelligence (AI) into the sales process, which they say will “remove or greatly reduce repetitive tasks from the mortgage application process”.
MAB says that applying AI at the beginning of the sales process will reduce potential delays and enable advisers to offer an enhanced service to their clients.
The AI system aims to match customer requirements to lender’s products through data collection, automation and categorisation, leading to better conversion rates and increased sales.
Last week MPowered Mortgages expanded its distribution through TMA Club. TMA members now have access to MPowered Mortgages’ range of specialist buy-to-let solutions as well as its in-house platform, MPowered.
MPowered’s buy-to-let rates start from 2.94% on a range of two, three and five-year fixed rates, with loans available from £50,000.
Its broker platform deploys AI and deep learning technology to collate and analyse data for advisers and offer an automated application process.
Peter Brodnicki, CEO of Mortgage Advice Bureau, said: MQube’s commitment to using AI and deep learning throughout the mortgage process matches our ambition to provide advisers with state-of-the-art tools which help them achieve the best outcomes for customers. We have a long-term mindset with this partnership and so we’re excited to continue supporting MQube and MPowered as the mortgage application process evolves even further.
Emma Hollingworth, distribution director at MPowered, added: By embedding AI and deep learning directly into the sales process, our aim will be to help Mortgage Advice Bureau brokers release more time on advising clients and bringing in new business. We’re looking forward to working with Mortgage Advice Bureau to evolve the mortgage process with AI and deep learning technology.
