MPowered Mortgages has announced a comprehensive rollout of its chatbot tool, fuelled by the ChatGPT AI tech. The company has confirmed it has successfully addressed one third of all enquiries from advisors.
This tool is called CriteriaGPT and was given an initial launch to those advisors who are partnered with MPowered during mid-summer. The month before that it was tested out internally by the underwriting and sales staff employed by the lender. The tool was created with the aim of solving complex residential lending criteria queries from mortgage advisors and MPowered is claiming a significant success rate for it.
It is stating that the tool was able to provide answers to one third of the 10,000 enquiries over live chat from advisors since it launched its prime residential slate nationally. Furthermore, it claims that CriteriaGPT will be resolving 60% of such enquiries by the time 2023 draws to a close.
Emma Hollingworth from MPowered told Mortgage Solutions that the company had been thrilled by the response to it from mortgage advisors. She then went on to add that:
“It is one of the many steps that 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.”
The tool is available to advisors via the MPowered website.
From using an online CeMAP training company to making greater use of technology after qualifying, most advisors know that tech solutions can have real benefits.
