MQube has launched MPowered, a platform it has developed alongside brokers.
MQube has launched MPowered, a platform it has developed alongside brokers.
The platform is designed to improve ease of use and maximise the benefits of proprietary AI technology to give advisers speed, certainty, and control over how they offer mortgages, the firm detailed.
MPowered Mortgages has been launched as MQube’s own lending brand, facilitated on the MPowered platform with £2bn in lending capacity for 2021/22.
MPowered Mortgages are launching into the non-regulated buy-to-let market, offering lending to individual, limited company and portfolio landlords at competitive rates.
MQube is partnering with additional lenders and funders to provide a broad range of products on the MPowered platform.
The tool deploys AI and deep learning technology to collate and analyse data for advisers and intermediaries.
According to the firm it allows for fewer delays, less 'back-and-forth' and a legally-binding decision in a meaningfully shorter timeframe.
The MPowered platform will be a springboard to wider AI usage amongst lenders and brokers.
Stuart Cheetham chief executive and co-founder at MQube, said: “Our MPowered platform has been designed with brokers in mind using cutting edge design and data-driven techniques to remove unnecessary, repetitive steps in the mortgage application process.
“MPowered works alongside brokers to give them more time to spend on the important stuff - customer advice and originating more business.
“We strongly believe in the importance of professional advice in the mortgage industry and emphasise the critical role of intermediaries in enabling better customer outcomes.
“Our view is that everyone in the mortgage ecosystem has a key role to play - the tools they use should be fit for the 21st century.
“This level of funding is a huge vote of confidence in MQube and for the potential of data-driven mortgages in the future.
“It is clear that lenders can see the untapped potential of Artificial Intelligence and Deep Learning in the sector in providing better outcomes for customers, advisers and intermediaries.”
