The Intermediary – February 2025 - Flipbook - Page 71
T E C H N O L O GY
Opinion
big thing
space
Eliminating paperwork
1 One of the most significant pain
points in the mortgage process is
the sheer volume of paperwork
involved. AI agents can automate
the collection, processing, and
validation of documents, ensuring
that all necessary information is
accurate and compliant with the
latest regulations. This reduces the
risk of errors while also creating a
paper-free workflow that is faster and
more efficient.
2 Traditionally, loan approvals
Faster approvals
can take days or even weeks,
as brokers manually review
credit histories, income
statements, and borrower
profiles. AI agents, however,
can analyse this data in real-time,
significantly reducing approval times.
By automating the underwriting
process, these systems enable lenders
to provide instant decisions, which
enhances the overall borrower
experience.
3 admin
Reducing
From lead generation to
compliance management, AI agents
take over the repetitive and timeconsuming tasks that brokers
oen dread. This allows
professionals to reclaim
their time and focus on
strategic activities, such as
building client relationships
and exploring new business
opportunities.
4Fraud is a major concern
Fraud detection
in the mortgage industry,
with billions of pounds lost
each year due to fraudulent
applications.
AI agents can detect anomalies
and paerns in data that might be
missed by human eyes. By identifying
potential red flags early in the
process, these systems help protect
both lenders and borrowers from
financial losses.
IFTHIKAR MOHAMED
is director at WIS Mortgages
and Insurance Services
5 AI agents are not just beneficial
Borrower experience
for brokers and bankers – they
also enhance the mortgage journey
for borrowers, too. Through
virtual assistants and personalised
recommendations, these systems
provide borrowers with real-time
updates, answer their questions, and
guide them through the mortgage
process in a bespoke way. This creates
a more transparent, efficient, and
user-friendly experience.
Why AI agents matter now
While other industries have embraced
technological advancements quite
quickly, the mortgage sector has been
slower to adapt. This has created
a unique opportunity for early
adopters of AI agents. With few
competitors in this space, mortgage
professionals who integrate this
technology now can gain a significant
competitive edge.
By adopting AI agents, brokers
and bankers can address their
most pressing challenges, such as
inefficiencies, errors, and compliance
issues. More importantly, they can
position themselves as innovators in
an evolving industry. As the demand
for faster, more transparent, and
more personalised mortgage services
grows, AI agents will play a key role in
meeting these expectations.
The mortgage industry is at a
turning point, and AI agents are
leading the charge toward a brighter
future. By automating tedious tasks,
reducing errors, and enhancing the
borrower experience, this technology
will transform the way mortgages are
processed and managed.
For brokers, bankers, and lenders,
the message is clear: embracing AI
agents is no longer optional – it’s
essential to staying competitive in a
rapidly changing landscape. ●
February 2025 | The Intermediary
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