It aims to support brokers
MortgagX, a new platform leveraging artificial intelligence (AI) to streamline the mortgage application process, has been launched.
Designed to support both mortgage brokers and their clients, MortgagX aims to enhance the user experience through its AI-powered Mortgage Assistant.
Available through a mobile app, the virtual assistant utilises natural language processing to answer mortgage-related queries. It also provides support for clients and assists brokers by ensuring compliance with Consumer Duty obligations.
The platform features an Intelligent Fact-Find tool that simplifies data entry, it claims. By integrating with various systems, MortgagX can auto-fill client information, significantly reducing paperwork and the administrative burden on brokers, according to its literature.
MortgagX also offers integration with open banking and credit reference agencies, as well as an instant automated ID and address verification process.
“We experienced the frustrations that mortgage brokers face in an increasingly complex industry that still relies on manual processes to function,” said Ifthikar Mohamed (pictured), co-founder of MortgagX. “The platform is set to completely change the way brokers and clients experience the mortgage process.
“By harnessing the power of artificial intelligence and the latest technology, we are pushing the industry forward in ways that weren’t possible even a few years ago. MortgagX makes the mortgage process faster and more efficient without compromising on safety or accessibility. We are incredibly proud to lead the revolution in the digital transformation of the mortgage industry.”
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