New AI chatbot launched for advisors

July 4, 2023 by Brendan O'Neill

Mortgage Advisors

A trial version of a brand new chatbot for mortgage advisors powered by artificial intelligence has been launched by MPowered Mortgages. The new chatbot will be available to all advisors across the country.

Called CriteriaGPT, the new tool is fuelled by the ChatGPT AI technology and is currently available as a beta version. The purpose of this tool is to provide advisors with answers to any questions that they might have concerning the criteria for the slate of residential mortgage loans offered by MPowered, without the need for them to speak to a human contact within the company.

Some scepticism about this development may be justified from mortgage advisors, but MPowered has insisted that the tool can cope with even complex criteria-related questions. It is stating that advisors will be able to get more rapid and accurate responses to their questions than if they had to wait to talk to a person within the company; this will enable them to progress applications more efficiently.

Any advisors who want to take part in the testing of the chatbot can contact their local business development manager (BDM) or MPowered over the internet. The lender is stating that it will use the opinions of those advisors that try it during the beta stage to make improvements before giving it a full rollout.

MPowered CEO Stuart Cheetham said that the company was always seeking to help advisors get loans for their clients more quickly.

Advisors, especially those who use an online CeMAP training company to gain their qualifications, should feel comfortable using brand-new technologies that may revolutionise the industry.