Pepper Money selects Covecta to deploy agentic AI for faster broker decisions
Pepper Money expects the technology to free up operational capacity and support volume growth.
Pepper Money has selected Covecta to deliver agentic artificial intelligence (AI) across its first and second charge mortgage operations under a multi-year agreement.
Covecta’s platform will automate screening and support underwriting and post-completion review, starting with decision in principle (DIP), full mortgage application screening, pre-completion review and post-close review processes.
Pepper Money expects the technology to free up operational capacity and support volume growth, speeding up broker turnaround times and supporting more complex cases.
Laurence Morey, CEO at Pepper Money, said: “Pepper Money has always focused on supporting customers whose circumstances may not fit the high street, and that depends on combining specialist expertise with the right technology.
“Our partnership with Covecta is about improving how we work, creating more capacity for our teams, and helping us deliver a faster, more consistent experience for brokers and customers that supports good customer outcomes.
“Importantly, it allows our people to stay focused on the areas where human judgement and experience matter most.”
Scott Wilson, founder and CEO at Covecta, said: “Pepper Money is exactly the partner we built Covecta for.
“Pepper Money is a sophisticated specialist lender that values pace, rigour and broker & customer outcomes in equal measure.
“UK financial services has been held back by slow moving incumbents and horizontal AI platforms that simply do not understand regulated FS workflows. Covecta closes that gap.”
Wilson added: “Working with Pepper Money, we are showing what is possible when key parts of the mortgage workflow, from DIP to Full Mortgage Application Screening to Pre-Completion Review, are reimagined around purpose-built agents.
“This is a defining moment for UK specialist lending, and we are proud to be doing it with one of the most respected lenders in the market.”
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