Finova promises ‘no more rekeying’ with one-click AI software – Mortgage Strategy
Finova will launch AI-powered software to let brokers submit applications with one click, with no rekeying.
The tech firm said its soon-to-be-launched AI agent means brokers will not have to re-key customer information multiple times across individual lender portals as part of the mortgage application process.
Instead, AI lets brokers use information captured during the fact find process to apply directly to any lender application portal available in the UK.
Finova said the selling points of this are less duplication, reduced human error and allowing advisers to spend more time with their customers.
The tech firm said brokers currently spend around 30 minutes per application punching customer data into lender portals.
The technology will be available in beta form through Finova’s Broker Hub website from 30 September, and brokers can register for this now.
The AI agent will collect customer information directly from the broker’s CRM and fact find.
It then automatically logs into lender portals using integrated password management technology and fills in the relevant fields.
Any missing information will be flagged up to the broker in channels such as WhatsApp or Slack.
The completed application is then returned to the broker for final review and submission.
Finova chief executive Gareth Richardson said: “For too long, mortgage brokers have been burdened with repetitive administration, re-keying the same customer information across multiple lender portals instead of spending that time advising clients.
“At Finova, we believe the future of lending lies in intelligent ecosystems where information is captured once and flows seamlessly throughout the entire mortgage journey. Our new AI broker agent brings that vision to life by removing unnecessary administration while ensuring brokers remain firmly in control of every application.”
