MortgagX, the AI-powered mortgage advisory solution for mortgage brokers and customers, has updated its platform to support banks along the mortgage journey.
MortgagX was formed to equip mortgage brokers with the tools to create a user-friendly experience, facilitating quicker, clearer, and more efficient interactions between advisers and their clients.
With this latest expansion, MortgagX now also serves banks and lending institutions.
The service includes a knowledge base tailored to various banking criteria and enhanced AI underwriting capabilities.
A key addition for banks is X-Plore, a digital hub that serves as a central point for brokers and clients, allowing them to access details on banking criteria.
MortgagX also introduced Source & Connect Direct, a feature that directly links clients with lenders.
By interacting with MortgagX’s advanced voice-operated AI, AMI, mortgage advisers and customers are presented with a selection of mortgage options that align with their needs, with the aim of simplifying and personalising the mortgage application process.
The firm also introduced the MX Decision Engine for automated decision-making on mortgage applications, harnessing banking criteria to performs checks, authenticate property details, and verify income information.
MortgagX said that automating these critical processes would help to minimise errors and accelerate the approval process, boosting efficiency and dependability.
MortgagX also implemented a solution whereby those making underwriting decisions can look at different characteristics, such as mobile phone bills and credit card bills.
Meanwhile, its feature SmartWrite automatically analyses up to two years’ worth of bank statements and credit histories.
Another enhancement to the MortgagX platform includes MMX Bespoke, which allows financial institutions to customise features to meet their specific needs, from risk assessment frameworks to compliance protocols.
Ifthikar Mohamed (pictured), co-founder of MortgagX, said: “MortgagX looks to do much more than act as a CRM tool for mortgage brokers – it is integral to the ongoing evolution of the mortgage industry.
“With these new additions, MortgagX is setting new standards by offering unmatched services and efficiency to all parties involved in the mortgage process.
”For lenders and mortgage advisers, or prospective mortgage clients seeking a more streamlined, intuitive, and stress-free mortgage process, the MortgagX platform is geared to facilitate and transform your mortgage experience.”
