MPowered Mortgages, an innovative prime residential mortgage lender, has fully deployed its groundbreaking ChatGPT-driven chatbot tool, CriteriaGPT.
This follows an test phase, during which the chatbot successfully resolved one-third of all broker inquiries. This significant milestone means brokers no longer always need to engage MPowered’s internal support team for their queries.
Leveraging ChatGPT’s advanced technology, CriteriaGPT provides instantaneous and accurate responses to intricate questions regarding MPowered’s residential lending stipulations. With this tool, the need for human intervention is greatly reduced, offering brokers speedy resolutions to their queries.
Now post-testing, the CriteriaGPT tool is accessible to all broker partners through the MPowered website. For more intricate issues or those who prefer human interactions, MPowered’s Broker Support Team remains available.
After the national introduction of its prime residential mortgage range earlier this year, MPowered has observed a significant influx in broker inquiries. By August, they reported 10,000 live chat requests. The company forecasts that the chatbot service will handle over 60% of all broker inquiries by year-end.
Emma Hollingworth, managing director of mortgages at MPowered Mortgages, said: “We are thrilled by the overwhelmingly positive reception of our ChatGPT chatbot. Harnessing technology to streamline the mortgage process and offer instant answers to urgent inquiries is pivotal to our mission. Our commitment to providing a seamless mortgage experience, especially amid the current unpredictable market, is unwavering.”
Hollingworth added that MPowered is dedicated to modernising the mortgage process, leveraging technology to serve both brokers and borrowers better.
Echoing this sentiment, Stelios Constantinidis, head of research at MPowered Mortgages, added: “CriteriaGPT stands as a testament to our commitment to leveraging AI for enhanced broker interactions. Brokers now have the ability to receive clear, immediate answers about our lending criteria, all articulated in simple language. We are proud to be pioneers, capitalising on AI’s groundbreaking potential to elevate user experiences for brokers.”
