Uk-based firm MPowered Mortgages has reported that its AI-powered chatbot now solves 60% of broker enquiries.
The solution, known as Criteria Genius, was developed by its parent company, MQube, and allows complex criteria queries to be answered in an instant, without the need for human intervention.
This innovation has notably reduced dependence on broker support agents, thereby enhancing operational efficiency within MPowered’s Broker Support Team.
Since its launch, Criteria Genius has been utilised by over 3,000 brokers, allowing the team to handle more inquiries while freeing up valuable time for personalised broker service.
The chatbot’s increased sophistication ensures accurate responses to complex questions, utilising a user-friendly interface similar to familiar online tools like ChatGPT. Consequently, the percentage of questions resolved by Criteria Genius has doubled compared to the previous year, reflecting its growing acceptance among brokers seeking time-saving solutions in their daily operations.
MQube continues to lead in technological advancements aimed at optimising mortgage processes for their lender partners.
Their AI-driven mortgage origination platform delivers rapid mortgage offers, while Marketing Genius leverages AI and large language models to accelerate content creation for effective broker support.
Stuart Cheetham, CEO of MPowered Mortgages and MQube, stated,“Criteria Genius can answer broker questions instantly. We are delighted that brokers are embracing the chatbot as using it saves them both time and hassle.
“MQube feels strongly that lenders need to look at ways of creating efficiencies within their “in-house” mortgage processes by leveraging technological advancements. A chatbot that answers questions instantly is just one of the ways they could be doing this. Our main goal at MQube is to take the stress and hassle out of the mortgage journey for both the brokers and the customer so that getting a mortgage becomes as quick as getting car insurance.”
Katherine Stagg, Director of Stagg Mortgage Service, praised MPowered’s initiative, remarking, “It’s no wonder MPowered have seen an increase in brokers using the chatbot tool. It’s really a no brainer! Why call an advisor for straightforward related criteria questions when they can be answered quickly by Criteria Genius. All brokers should be using this tool and lenders need to embrace such new technologies that makes our lives easier and gets our customers quicker decisions and better outcomes.”
In summary, MPowered Mortgages and MQube are driving innovation in the mortgage industry through Criteria Genius, setting a benchmark for efficiency and customer service in mortgage origination processes.
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