MortgagX Announces Groundbreaking Expansion of Its AI-Powered Mortgage Platform for Banks and Lenders

20 January 2025

MortgagX, the AI-powered end-to-end mortgage advisory solution for mortgage brokers and customers, has announced a significant expansion of its platform capabilities. By adding new features to the platform, MortgagX is now helping banks and lenders with cutting-edge tools that promise to deliver the fastest and most efficient mortgage journey in the UK.

Tailored Solutions for Every Mortgage Stakeholder

Since it began, MortgagX has looked to innovate the mortgage industry by providing powerful tools for mortgage brokers and a seamless experience for homebuyers.

The platform has supported easier, faster, and more transparent interactions between mortgage advisers and clients by using advanced technology solutions like intelligent fact-finding,intelligent screening, and intelligent sourcing.

With the latest update, MortgagX is now ready to cater to banks and lenders, too. From a comprehensive knowledge base for different bank criteria to smart underwriting capabilities,the new and improved platform has plenty to offer lenders and customers alike.

X-Plore: Your BDM Sidekick

One of the new tools available to banks is X-Plore, an advanced speech-based AI assistant that provides quick access to reliable mortgage and criteria information. This criteria hub acts as a single access point for both brokers and customers to review detailed bank criteria. X-plore makes it easier for everyone involved in the mortgage process to make informed decisions quickly, supporting a more understandable and efficient way of working.

Source & Connect Direct: A Direct Path to Your Perfect Mortgage

Another update that MortgagX has also rolled out is Source & Connect Direct. This a forward-thinking solution connects clients directly with lenders, streamlining the product sourcing process and speeding up the mortgage journey. After engaging with AMI - MortgagX’s advanced speech-based AI assistant - customers receive a list of mortgage products tailored to their specific needs. This helps to simplify the mortgage search while also personalising the experience to the individual’s requirements.

MX Decision Engine & a different perspective to underwriting :Automation for Accuracy and Speed

The new MX Decision Engine on the MortgagX platform is a big leap forward in automated decision-making within the mortgage application process. By using bank criteria, this tool conducts essential checks, verifies property information, and confirms income details with precision. By automating these important steps, the MX Decision Engine reduces errors and speeds up the approval process, bringing efficiency and reliability to new heights.

MortgagX has introduced an innovative solution called "Underwriting with a Different Perspective," which reimagines traditional underwriting by incorporating unconventional data points, such as mobile phone usage, credit card bills, and income-expenditure patterns. Designed to function as a wrapper around existing underwriting systems, this solution integrates seamlessly with a bank's infrastructure. By leveraging intelligent sourcing and advanced client data integration, MortgagX ensures regulatory compliance, improves risk assessment accuracy, reduces manual effort, and significantly accelerates decision-making.

SmartWrite: Intelligent Risk Assessment

SmartWrite, another new feature found on the MortgagX platform, is set to redefine underwriting practices. By analysing two years of bank statements and credit scores, this tool offers a full view of a client’s financial health automatically, allowing for a more accurate assessment of potential risk factors. This ensures that decisions are based on thorough and insightful financial analysis, protecting both lenders and borrowers.

MMX Bespoke: Tailored Solutions for Banking Excellence

The other new feature on the MortgagX platform is MMX Bespoke, which looks to address the many unique challenges financial institutions face in the modern market. MMX Bespoke allows lenders to pick and choose what features they need to meet their specific requirements. This approach creates a truly tailored solution, from risk assessment frameworks to compliance protocols, ensuring that every institution can benefit from the technological advancements of MortgagX.

MortgagX: A Commitment to the Future

MortgagX is more than just an app-based CRM for mortgage brokers; it is a part of the evolving future of the mortgage industry. With these new features, MortgagX is becoming a guiding force in the industry by providing unparalleled service and speed to all stakeholders in the mortgage process.

Whether you’re a banker, lender or prospective mortgage customer, the MortgagX platform is designed to help you work through the mortgage process in a more simple, intuitive and stress-free way. For more information on how MortgagX can transform your mortgage experience, please contact the team at https://mortgagx.ai using the following details: 0203 011 3227 or ami@mortgagx.ai.