MQube has made its artificial intelligence (AI) chatbot available to a limited number of lender partners, having already been utilised by more than 4,000 brokers.
The chatbot has been in operation at MPowered Mortgages for more than a year, and has automated 90% of broker criteria questions.
The AI chatbot uses large language models (LLMs) to understand a lender’s policies and provide instant, accurate responses to complex criteria questions from internal staff, brokers, and end customers.
Lenders can integrate this plug-and-play tool into their internal platforms, broker portals, and existing chat interfaces.
MQube also offers a sandbox version for lenders to test the chatbot with their policies before deploying it.
At MPowered Mortgages, the chatbot has created efficiencies by reducing the need for broker support agents to handle criteria-related questions.
This resolves more than 90% of inquiries without the need for human intervention.
Stuart Cheetham, CEO at MQube, said: “This is no ordinary chatbot but one that has the capacity to answer the most complex and detailed questions about a lenders’ criteria providing brokers and customers with answers quickly and saving them both time and hassle.
“Service levels of lenders is something that we know is a pain point for both brokers and customers and this new chatbot has been designed to support lenders in improving the service they offer by eliminating the hassle of waiting on the phone by answering complex criteria questions in an instant.”
