New AI-powered solution aims to streamline tedious administrative tasks
Fintech firm MortgagX has introduced AI-powered “employees” designed specifically to support mortgage brokers, aiming to streamline the home loan process by automating administrative tasks.
The latest development marks the debut of what MortgagX claims is the first agentic AI built for the mortgage sector. The technology is intended to free brokers from time-consuming paperwork, allowing them to dedicate more time to client relationships.
“Our AI employees are designed to transform the traditional mortgage process by automating repetitive and time-consuming administrative tasks,” said Ifthikar Mohamed (pictured), co-founder of MortgagX. “This gives brokers more time to focus on what matters most: their clients.”
The mortgage industry has long been associated with slow processes, often due to stringent compliance requirements and manual workflows. MortgagX’s AI employees aim to change this by supporting brokers throughout the mortgage journey, handling administrative tasks that typically slow down operations. By automating these processes, the AI tools help brokers save hours of work per case, potentially increasing overall efficiency and customer satisfaction.
Administrative work often dominates the workload of mortgage brokers, leaving less time for client engagement and business growth. MortgagX’s AI technology seeks to address this issue by automating essential tasks such as client screening, fact-finding, financial analysis, relationship management, compliance checks, and smart integrations with systems like HMRC, Companies House, insurance providers, and property portals.
In addition, the AMI – AI Mortgage Assistant provides instant responses to client queries, ensuring continuous communication. According to MortgagX, this technology not only boosts productivity but also enhances brokers’ ability to grow their businesses in a competitive market.
MortgagX’s AI employees are built to support brokers in managing the entire mortgage journey, addressing common industry pain points. The company claims that brokers using the platform could save up to eight hours of processing time per case, reduce human errors through automated data entry, improve client satisfaction by accelerating processing times, and lower operational costs by automating routine tasks. Despite these advancements, MortgagX emphasises that AI tools are designed to assist rather than replace brokers.
“The human element remains essential, particularly when understanding client needs and offering personalised advice,” Mohamed said. “But unlike conventional AI tools that merely automate tasks, MortgagX AI employees embody the principles of agentic AI. It goes beyond simply performing tasks by actually understanding, reasoning, and proactively managing complex cases.”
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